Philippines Reaffirms Commitment to Common Fund for Commodities with Voluntary Contribution

(L-R) Philippine Ambassador J. Eduardo Malaya, Managing Director Sheikh Mohammed Belal and Ugandan Ambassador Mirjam Blaak Sow

THE HAGUE 26 February 2025 - The Philippine Government made a voluntary contribution to the Common Fund for Commodities (CFC) for the formulation of its Strategic Framework 2025-2035. The contribution in the amount of USD 15,000 was presented by Philippine Ambassador to the Netherlands J. Eduardo Malaya on 24 February at the Embassy of the Philippines, and received by CFC Managing Director Sheikh Mohammed Belal in the presence of CFC Governing Council Chairperson Mirjam Blaak Sow, Ambassador of Uganda to Belgium and The Netherlands.

“The contribution is a re-affirmation of the country’s steadfast commitment to the CFC’s mission to alleviate poverty, foster economic growth in developing countries, and to create a future of “equity and opportunity” for smallholder farmers around the world,” Ambassador Malaya said.

Managing Director Belal conveyed his deep gratitude to the Philippines, citing that the “tangible financial contributions have been particularly impactful, providing much-needed support to further CFC’s objectives.”

The donation was made during a preparatory meeting for the 79th Meeting of the Executive Board on April 8 and 9 to be chaired by Ambassador Malaya who is also the Board’s Chairperson.

In a press release, CFC stated that, “The Philippines is a nation that has consistently stood as a lighthouse of generosity, leadership, and vision in our collective efforts. It is a profound statement of solidarity and commitment to enhancing the development of SMEs and agri-commodity communities. This act of generosity is a shining example of the spirit of collaboration that defines our mission. The Philippines’ contribution sets a precedent and serves as an inspiration for other Member States. CFC encourages all member states, in the developing or developed world, to follow this exemplary lead, not merely as a duty, but as a shared commitment to global development.” 

President Ferdinand E. Marcos played a crucial role in the establishment of the CFC. The idea was first agreed upon in Manila in February 1976 by the Group of 77 and was proposed during the United Nations Conference on Trade and Development (UNCTAD IV) in May 1976 in Nairobi, Kenya. The Philippines’ subscription of 50 million USD initiated the establishment of the mother resolution of the CFC – the so-called “Integrated Programme for Commodities.”

Since 1993, the CFC has supported 11 agricultural projects in the Philippines, including the recent financing of the development project with Kennemer Foods International Inc., an agribusiness company based in Davao City specializing in growing, sourcing and trading fermented cacao beans. Other projects involved were the development of commodities such as seaweeds, hard fibres, logs, meat, coconut, sugarcane, coir, abaca and cocowood.

Composed of 101 Member States, the CFC is an autonomous intergovernmental financial institution established within the framework of the United Nations. The Agreement Establishing the Common Fund for Commodities was negotiated in the United Nations Conference on Trade and Development (UNCTAD) from 1976 to 1980 and became effective in 1989. END

For more information, visit https://www.thehaguepe.dfa.gov.ph  or  https://www.facebook.com/PHinTheNetherlands/.