The Executive Board of the Common Fund for Commodities met in Amsterdam, The Netherlands, from 18 to 19 October 2016 to review operational issues, financial and administrative matters and make recommendations for approval of the Governing Council, the highest policy-making body of the Common Fund.
Mr. Nagi Iskander Awad Masoud, Agricultural Attaché Counsellor, Economic Affairs, Embassy of Sudan, Chairperson of the Executive Board for 2016 opened the meeting. The Managing Director welcomed all Executive Directors, Alternates and Advisers. He further welcomed Mr. Aly Toure, Chairman of the Governing Council, Mr. Lee Choon Hui, Chairperson of the Consultative Committee, and Mr. Walid Mehalaine, who represents the OPEC Fund for International Development (OFID), as Observers to the meeting. H.E. Ms. Rahma Salih Elobied, the Ambassador of Sudan to The Netherlands, made a statement in which she expressed her confidence in CFC’s capability to provide accessible finance for commodities in the future.
Over the course of the two days, the Executive Board reviewed 32 agenda items and approved 5 regular project proposals for financing.