Consultations with Chairperson of the CFC’s Governing Council for 2023
H.E. Dr. Eniola Olaitan Ajayi, Ambassador of the Federal Republic of Nigeria to the Kingdom of the Netherland, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. During the visit, Ambassador Ajayi was accompanied by Ms. Adepeju Adewoye-Onana, Personal Assistant to the Ambassador. Ambassador Belal was accompanied by Ms. Annemarie den Tex, Legal Adviser to the Managing Director.
Ambassador Belal thanked Ambassador Ajayi for her dedicated leadership as Chairperson of the Governing Council. Accordingly, Ambassador Belal updated the Chair on the status of the activities of the CFC and sought help in making the Agricultural Commodity Transformation Fund (ACT) Fund a success. During the discussion, following a presentation on agenda items to be considered and procedural aspects of the Governing Council, Ambassador Belal briefed Ambassador Ajayi on the agenda items to be considered at the forthcoming 35th Annual Meeting of the Governing Council on 21-22 November 2023. The prospects and challenges of CFC was duly highlighted as demand for CFC’s investments has reached a new high, but resource allocation remains static, at best.
The Chair appreciated CFC’s initiative for the ACT Fund and hoped that it will work to bring more resources so that CFC could do some justice to its heightened demand. The meeting, inter alia, also touched upon issues of potential of nutraceuticals as they went over the publication of the Common Fund for Commodities (CFC) in partnership with the United Nations Conference on Trade and Development (UNCTAD), on “Harnessing the potential of nutraceutical products for export diversification and development in Landlocked developing countries: Assessment of comparative advantages and binding constraints.” .
Ambassador Ajayi appreciated the workings of the CFC and acknowledged proactive measures for hosting two successive webinars on 15 September and 17 October 2023 to celebrate the 34th anniversary of the establishment of CFC and to commemorate the International Day for the Eradication of Poverty respectively.
The meeting was concluded with the expression of mutual assurances to keep engaged for a fruitful Governing Council meeting in November 2023.
