Sudan wishes to see CFC’s investments
08 August 2024, Amsterdam: Mrs. Omaima Mahmoud Ahmed Alsharief, the newly appointed Governor of CFC for Sudan & Minister Plenipotentiary, Embassy of Sudan in The Hague, accompanied by Dr. Rasha Beshir, Agricultural attaché, visited the CFC headquarters to have a meeting with Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC).
After exchange of pleasantries, Ambassador Belal provided Mrs. Alsharief with an overview of the current and potential future initiatives of the CFC. In light of the present global challenges, Ambassador Belal emphasized the importance of fostering stronger working relationships and partnerships with countries moving forward. He also underscored the significance of capacity-building initiatives beyond the conventional scope of the CFC's projects, drawing lessons from the Covid-19 pandemic. Ambassador Belal highlighted the growing demand for CFC investments, which is outpacing the available financing resources. He emphasized the need for greater support of the member states to meet the heightened demand.
Furthermore, Ambassador Belal discussed the introduction of the Agricultural Commodity Transformation (ACT) Fund, previously known as CIIF, at the LDC5 Conference in Doha. He shared the CFC's roadmap for poverty alleviation in the Least Developed Countries (LDCs), Land Locked Developed Countries (LLDCs), and beyond. Member countries were encouraged to join the ACT Fund as anchor investors and promote it to the private sector.
Mrs. Alsharief emphasized Sudan's significant agricultural potential during the discussion and highlighted the opportunity for substantial growth. She expressed the desire for increased CFC investment in Sudan to support smallholders, enabling them to raise their incomes and alleviate poverty.
Ambassador Belal urged Ms Omaina to be a in a state of readiness to begin expedited recovery work once situation stabilizes in Sudan and proposed to work for a specialized trust fund for Sudan so that poor smallholders in Sudan regain their livelihood fast and forever.
Ambassador Belal encouraged Mrs. Alsharief to disseminate relevant information on the CFC’s call for proposals so that qualified SMEs/enterprises, both within and outside of Sudan, could submit high-quality projects for consideration by the CFC's Executive Board.
The meeting concluded with mutual assurances of support and a commitment to follow up on necessary actions in the coming days.