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.
AMSTERDAM-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.
The Board endorsed two regular projects covering the cotton sector and the development of sorghum value chain in East Africa. The approved regular projects and fast-tracks projects are:
Regular Projects:
-East African Sorghum Value Chain Development Project (CFC/FIGG/460). MEDIA ADVISORY
-ProCotton: Decision Support Systems for Producer Organizations to Improve Productivity and Marketing of Cotton (CFC/ICAC/40). MEDIA ADVISORY
Fast-Track Projects:
-Multi-Stakeholder Meeting on Cotton (CFC/CFC/29/FT/FA)
Development of Smallholder Irrigation Schemes for Rice Contract Farming in DR Congo (CFC/FIGR/16/ FT)
-Potentials and Constraints for Aromatic Plants and Essential Oils Production and Marketing in Africa (CFC/FISGTF/30/FT)
-Workshop on Enhancing Participation in the Value Chain and Establishing Links to the Market for -Tropical Fruit Smallholders in Africa (CFC/FIGTF/31/FT)
-An International Seminar on Strengthening of R&D Collaboration for Jute, Kenaf & Allied Fibres Development (CFC/IJSG/26/FT)
The Managing Director in his statement to the Board said that during previous years, the Fund has largely exceeded the yearly financial resource allocation targets as established by the 3rd five-y ear Action Plan.
He noted that in this funding cycle, since voluntary contributions from CFC Member-Countries are limited and cannot exceed the 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.
"However, we expect that in July 2011, the Consultative Committee will recommend approval for a larger share of project proposals with CFC contributions of USD 10-12 million," said Amb. Mchumo.