CFC and UN-OHRLLS Strengthen Cooperation on Commodities and Development
New York, 20 April 2026 — Ambassador Sheikh Mohammed Belal, Managing Director/CEO/USG of the Common Fund for Commodities (CFC), met with H.E. Ms. Rabab Fatima, Under-Secretary-General and High Representative for the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, on the margins of the Financing for Development Forum in New York.
At a time when poverty is re-emerging and smallholders are struggling to make ends meet, both sides emphasized the importance of strengthening partnerships to better leverage the CFC as a practical financing instrument. With over three billion people dependent on commodities, institutions like the CFC remain uniquely positioned to deliver targeted support that boosts productivity, strengthens value chains, and raises incomes for smallholders and agri-SMEs, particularly in the most vulnerable economies.
In this context, Ambassador Belal highlighted the urgency of focusing on the “Absolute Sixteen” (A16)—countries that are both Least Developed Countries (LDCs) and Landlocked Developing Countries (LLDCs)—which face a compounded set of structural challenges, including high trade costs, limited market access, and heightened climate vulnerability . He underscored that targeted interventions for the A16 can deliver outsized development impact by addressing the most acute constraints in global commodity systems.
Ambassador Belal stressed that development finance must reach those at the very base of the value chain:
“Only by empowering smallholders and commodity-dependent SMEs—especially in the A16—can we close widening inequality gaps and build real economic resilience.”
USG Fatima reaffirmed the centrality of commodities in addressing structural vulnerabilities faced by the countries under her mandate and expressed strong support for innovative approaches such as the A16 framework. She emphasized that sharpening focus on this group can help unlock more effective, targeted, and coordinated development responses:
“Commodities remain central to the development prospects of LDCs, LLDCs, and SIDS. Innovative frameworks such as the Absolute Sixteen provide an important lens to better understand and address compounded vulnerabilities. Strengthening institutions like the Common Fund for Commodities is essential to building resilience, enhancing productive capacities, and advancing sustainable development.”
USG Fatima further encouraged the CFC to develop and submit a concept note on the Absolute Sixteen initiative, noting that OHRLLS stands ready to explore this proposal and advance concrete collaboration opportunities based on its strategic and operational potential.
Both sides agreed that re-centering commodities in development finance discussions—while elevating targeted initiatives such as the A16—and scaling up collaboration between the CFC and OHRLLS will be key to addressing structural challenges and advancing inclusive and sustainable development for the most vulnerable countries.
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