Financial and Technical Assistance for Agri-Commodity Sector Available at CFC
THE HAGUE 15 May 2024 – The Embassy of the Philippines in The Hague conveys the call of the Common Fund for Commodities (CFC) on Philippine SMEs/enterprises/businesses, cooperatives and institutions to apply for support for their commodity development activities. Interested agriculture-related companies, businesses and other institutions can submit their investment proposals to CFC on or before 1 October 2024.
The CFC provides a range of financial and technical instruments in support of business activities contributing to sustainable development of the commodity sector in developing countries. These instruments include loan financing support, working capital or trade finance focusing on the following areas: agritech applications, agroforestry, agro-ecology themed innovative productivity practices, regenerative technologies, and expediting digital and green recovery, among others.
“We are keen to see Philippine SMEs avail of the financial and technical assistance being offered by the CFC to developing countries’ agri-commodity sector, providing them opportunities for increased agricultural productivity, income and visibility in the international market,” Ambassador J. Eduardo Malaya said.
Ambassador Malaya is the Chairperson of the Executive Board of the Common Fund for Commodities for term 2024.
Since its establishment in 1989, the CFC has assisted 440,000 farmers from 104 different countries, including the Philippines, with a total of 455 projects approved, 60,000 hectares of land cultivated, 70 commodities financed and 10,895 agri-commodity jobs supported.
The CFC has supported 11 agricultural projects in the Philippines through the years, including a current project with Kennemer Foods International Inc., an agribusiness company based in Davao City specializing in growing, sourcing and trading fermented cacao beans. With its collaboration with the CFC, it has reported an increase in sales of 26% and remains the largest exporter of cocoa beans from the Philippines allowing farmers to make necessary investments for planting cocoa.
Those eligible to apply for CFC support are public and private entities that operate in commodity value chains or provide financial services to micro, small and medium sized businesses operating in these value chains, and have a proven relevant track record of sound financial operations in their current and/or proposed activities over a period of at least 3 years.
To know more the procedures on how to prepare and submit investment proposals, the CFC will host an “Open Call Webinar” on 5 September 2024 (10:00-11:00 CET/ 4:00 - 5:00H PH time). Registration is available at https://www.common-fund.org/call-for-proposals. Other previously conducted webinars are likewise uploaded in the said link.
The CFC is an autonomous intergovernmental financial institution undertaking impact investments in the agricultural sector. It was created within the auspices of the United Nations Conference on Trade and Development.
For more information on the CFC’s Call for Proposals, please check the Frequently Asked Questions on CFCs Call for Proposals, and visit https://www.common-fund.org/call-for-proposals or email This email address is being protected from spambots. You need JavaScript enabled to view it.. END