Sudan is keen to see more CFC investments
Mr. Abbas Yassin Omer Bakhit, Governor of CFC for Sudan/Minister Plenipotentiary & Charge d’Affaires, a.i., Embassy of the Republic of the Sudan, accompanied by Ms. Rasha Beshir Ahmed Yousif, Agricultural Attaché of the Embassy, visited CFC Secretariat in Amsterdam to meet Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC). They discussed the activities of the Common Fund for Commodities as well as ways of future cooperation between Sudan and CFC at this challenging time of aftermath of COVID-19 pandemic and war in Ukraine.
Following an introductory presentation on CFC, Ambassador Belal briefed the delegation on the current discrepancy between CFC’s financing resources and the increased demand for CFC investment. CFC MD elaborated on how CFC is overwhelmed with the demand for its services and as such, would like to see greater support infrastructure so that CFC could live upto the expectation of the member countries.
Ambassador Belal also shared information on the ongoing initiative on the formulation of a fund entitled Agricultural Commodity Transformation (ACT) Fund (formerly referred to as ‘CIIF’) designed to enable CFC to contribute more for alleviation of poverty. Once the ACT Fund is formed, member countries are welcome to join this impact investment fund as anchor investors.
Mr. Bakhit appreciated the CFC for taking the initiative of launching this ACT Fund and assured to support both the process and construct through necessary coordination with all member states. He further appreciated for the good work of the CFC and hoped that further collaboration could be explored in the days to come. Mr. Bakhit assured to disseminate CFC’s Call for proposals as well as success stories to the concerned in his country. Sudanese CDAai expressed their desire to see more investments from CFC to Sudan and assured their government’s support for the CFC in its drive to do more for the people of Africa and beyond.
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.