India willing to share its best practices in the commodity sector with the CFC
H.E. Ms. Reenat Sandhu, Ambassador of the Republic of India to the Netherlands, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. H.E. Ms. Reenat Sandhu came to visit CFC, for the first time, to know more about the activities of the CFC and its impact on the ground.
Ambassador Sandhu was accompanied by Mr. Satya P. Pinisetty, First Secretary at the Embassy. Ambassador Belal was accompanied by Ms. Annemarie den Tex, Legal Adviser to the Managing Director.
During the discussion following an introductory presentation on CFC, Ambassador Belal briefed Ambassador Sandhu on the current as well as probable future initiatives of the CFC. Ambassador Belal requested Ambassador Sandhu to bring much needed focus on the issues surrounding commodities as India being one of worlds leading producer and consumer of commodities. Highlighting the ongoing challenges following the enduing pandemic, war in Ukraine and challenges of climate change, Ambassador Belal shared the realities of developing world who suffers most of the vulnerabilities.
Ambassador Belal also briefed Ambassador Sandhu 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.
Ambassador Belal also congratulated India for leading the world in brining much needed focus on the production, trading and consumption of millets as India successfully hosted a resolution with the United Nations to declare 2023 as the Year of Millets. The primary aim of this initiative is to increase the awareness of millets’ health benefits among the general public. The UN General Assembly’s decision to observe 2023 as the International Year of Millets was backed by more than 70 countries including India. CFC expressed its readiness to work with the Government of India to bring home the messages of the 2023 International Year of Millets.
Before taking leave, Ambassador Sandhu 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 and necessary investment required for such impacts, as best as she could. Ambassador Sandhu also highlighted how the government of India has been working to implement much needed technological transformation in the Indian agriculture.
Congratulating Indian leadership and its people for all new innovations and technologies in India, Ambassador Belal sought India’s help implement some of successful best practices from India in other parts of the world as well. Indian Ambassador expressed her willingness to support CFC in bringing some of those ideas in the workings of the CFC. Ambassador Belal also urged Ambassador Sandhu to disseminate the information on CFC’s call for proposals with business chambers, Ministries, and enterprises so that qualified SMEs/enterprises could submit quality projects from India for consideration by the Executive Board of CFC, and to attend potential entrepreneurs from India to the CFC webinar sessions arranged for potential applicants to the CFC call for proposals.
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.