Ethiopia reiterates its strong support for CFC
H.E. Ms. Hirut Zemene Kassa, Ambassador of the Federal Democratic Republic of Ethiopia to EU and Benelux region, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. H.E. Ms. Hirut Zemene came to visit CFC, for the first time, to know more about the activities of the CFC and its impact on the ground, especially on the African continent.
Her Excellency was accompanied by Mr. Ayikelkel Birhanu, First Secretary, Multilateral Organs in The Netherlands. Ambassador Belal was accompanied by Ms. Annemarie den Tex, Legal Adviser to the Managing Director.
CFC welcomed Ambassador Zemene with a presentation showing how poverty remains stuck around commodities and how the global economic system also made it difficult to ease the commodity dependency trap in landlocked developing country (LLDC) like Ethiopia. Ambassador Belal requested Ambassador Zemene to help CFC with her country’s success stories and thereby help CFC to improve the format and character of CFC projects. Ambassador Belal also requested Her Excellency to introduce CFC to potential stakeholders so that CFC could scale up its work globally. Ambassador Belal wished to see more working relations and partnership with countries like Ethiopia where commodities are of vital importance to its economy and food security.
Ambassador Belal further briefed Ambassador Zemene on the ongoing initiative on the formulation of a fund titled CIIF (Commodity Impact Investment Facility), and thereby enabling CFC to contribute more for alleviation of poverty. Once formed, CIIF could also be an avenue for member countries to join this impact investment fund as anchor investors.
Before taking leave, Ambassador Zemene assured that she will do her best to bring good project ideas from her country and the region as well as promoting the idea of impact investment as best as she could. Ambassador Belal urged Ambassador Zemene to disseminate the information with business chambers, Ministries, and enterprises so that qualified SMEs/enterprises could submit quality projects from Ethiopia for consideration by the Executive Board of CFC.
Ambassador Belal assured to pursue more innovative outreaches in the days to come to make the services of CFC available to as many people as possible in the commodity dependent developing world, with a heightened sense of innovations and creativity.
