News and events
News overview
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The Executive Board Approves Proposal for CFC Reform Process
The Board agreed that the implementation plan for reform calls for the establishment of an open-ended Committee of Member States. This Committee is to be led by Member States and a firm decision on the future role, mandate and long-term financial sustainability of the Common Fund is expected to be finalized in 2012.
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Financing for Coffee and Cotton Projects Approved by the Board
The Board endorsed regular projects to rehabilitate the coffee sector in Democratic Republic of Congo and to develop national classing systems for cotton in Kenya and Mozambique.
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WRC Innovation Award for CFC bamboo project in Sichuan Province
When a major earthquake in 2008 devastated the Sichuan Province in China, leaving nearly 5 million people homeless, CFC quickly approved a proposal for a fast-track pilot project, to assist the affected population to rebuild homes utilizing bamboo, which is a sustainable natural resource in China. The project, co-sponsored by INBAR, the ICB partner, was one of over 70 entrants in the World Innovation Competition, sponsored by the World Reconstruction Conference (WRC), where the project won one of the three top WRC Awards given out at the conference in Geneva.
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Financing for Cotton and Sorghum Projects Approved by Executive Board
The Executive Board of the Common Fund for Commodities approved a series of regular and fast-track projects at the recent meeting held in Amsterdam. In his statement to the Board, Amb. Mchumo said that in this funding cycle, since voluntary contributions from CFC Member-Countries are limited and cannot exceed the 3rd five-year Action Plan's targets, CFC intends to reduce new commitments for 2011 and 2012 and accordingly, the set-target of USD 18.3 million will be reduced in 2011.
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CFC & UNCTAD Host Special Event on Commodities and LDCs at UN LDC-IV in Istanbul
The Common Fund for Commodities, jointly with UNCTAD's Division on Africa and LDCs, held a Special Event in Istanbul at the 4th United Nations Conference on the Least Developed Countries (UN LDC-IV) May 8 on: "Commodity Dependence and the Impact of Multiple Crises on LDCs: Mapping the Exposure to Market Volatility and Building Resilience to Future Crises."
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LAC Initiative to Tackle Poverty and Climate Change Launched in Ecuador
The CFC financed project, ‘South-South Initiative to Develop an Integrated Bamboo based-Development Alternative in Latin America ' is one of three funded initiatives contributing to INBAR's new regional programme, targeting economic development and climate change adaptation in Latin America and Caribbean, in partnership with the European Union, the World Bank and local institutions in Ecuador and Peru. The launching kick-off takes place, April 28, 2011 in Olon, Ecuador.
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International Seminar on Jute and Allied Fibres in Dhaka
The Common Fund and the International Jute Study Group (IJSG) will organize an international seminar on R&D drivers in the jute and allied fibres sector in Dhaka, June 8-9 2011.
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Commodity Price Volatility and Food Security
Soaring food prices have again brought international attention to the world agricultural production, its risks and resulting limits to economic growth and development, as well as social, economic and political consequences of food markets instability. The Common Fund has prepared a position paper on the topic.
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Commodity Dependence is a Development Problem
The 2nd Global Commodities Forum (GCF) co-sponsored by Common Fund and hosted by UNCTAD took place in Geneva recently with key addresses from chiefs of several international agencies, who reiterated that this year's theme: "Volatility in International Commodity Markets"- -was timely, as prices of food and raw materials continue to rapidly rise. At the Forum, Managing Director, Amb. Mchumo said, the challenge is to find practical workable solutions to the perennial problems of the commodity economy, since there's not much disagreement in the international community that commodity dependence is a development problem.
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CFC and UNCTAD host Global Forum on Commodities in Geneva
The 2nd Global Commodities Forum (GCF), organized by UNCTAD will take place at the Palais des Nations in Geneva from 31 January to 1 February 2011. Supported by the Common Fund for Commodities and other partners, the forum is a high-level neutral and integrated platform.