Philippine Ambassador Re-elected as Chair of Common Fund for Commodities Executive Board
Ambassador J. Eduardo Malaya and Managing Director Sheikh Mohammed Belal
THE HAGUE 07 October 2024 - Philippine Ambassador to the Netherlands J. Eduardo Malaya was re-elected as Chairperson-designate of the Executive Board of the Common Fund for Commodities (CFC) for term 2025 during the 78th Meeting of the organization’s Executive Board (EB78) on 2 October in Amsterdam.
Ambassador Malaya, who is the current Chairperson of the Executive Board, was nominated by Sri Lanka for his “proactive work and valuable contributions in the international organizations in the Netherlands, including the CFC.” The nomination was seconded by Uganda, Indonesia, and three other Member Countries.
CFC Managing Director Sheikh Mohammed Belal stated that the reappointment of Ambassador Malaya, by consensus, as Chairperson-designate is a “clear testament to the trust and confidence that the members have in his leadership, dedication and strategic vision.”
During the EB78 meeting, the Executive Board approved eleven (11) innovative, sustainable agricultural projects worth USD 10.7M that are designed to benefit smallholder farmers, cooperatives and companies in developing countries.
The Executive Board also endorsed the development of “Strategic Framework 2025-2035” that underscores confidence in the future of the CFC and its vital role in nurturing “agri-preneurs,” raising productivity, and addressing poverty in the Global South.
In his opening statement at the Meeting, Ambassador Malaya emphasized the need for concerted action among Member Countries to make CFC’s financing services and technical assistance more accessible and available to the agri-commodity communities in developing countries. “The CFC's vision to transform the commodity sector into a contributor to poverty alleviation and sustainable development is both ambitious and necessary. While the organization has made significant strides in this direction, realizing the full potential of this vision requires new resources and expanded capacity,” the Ambassador said.
CFC Managing Director Sheikh Mohammed Belal stated in his remarks that the “CFC’s work is significant in achieving a resilient, gender-inclusive agri-commodity communities with economic stability and environmental harmony through the promotion of sustainable farming and technological innovations in agriculture.”
The Board also approved the nomination of the Philippines’ Norman William S. Kraft to the CFC’s Consultative Committee for term 2025-2026. He is the Director for Program Monitoring and Information Systems and Management of the Department of Agriculture – Agricultural Credit Policy Council. The Committee is composed of nine independent experts from various regions and serves as the advisory body of the Executive Board on technical and economic aspects, particularly on the review and approval of project proposals.
The in-person meeting, with online participation, was attended by some 60 Executive Directors, Alternate Executive Directors and other officials who are either based in their respective capitals or foreign missions in The Hague, Brussels and Geneva, representing the 24 Constituencies of the CFC.
Composed of 101 Member States, the CFC is an autonomous intergovernmental financial institution within the framework of the United Nations that provides a range of financial and technical instruments in support of business activities contributing to sustainable development of the agri-commodity sectors in developing countries. The Executive Board is one of the governing bodies of the CFC that is responsible for the conduct of operations of the Fund. (https://www.common-fund.org/). END
CFC Managing Director Sheikh Mohammed Belal
For more information, visit https://www.thehaguepe.dfa.gov.ph or https://www.facebook.com/PHinTheNetherlands/ .