The Hague, 22 September 2021 -- Ambassador J. Eduardo Malaya called on the Common Fund for Commodities (CFC) Managing Director H.E. Ambassador Sheikh Mohammed Belal at the CFC Headquarters in Amsterdam to discuss cooperation between the Philippines and the CFC.
Ambassador Belal briefed the Ambassador on the CFC objectives, functions and operations, and the completed and operational projects in the Philippines.
Ambassador Malaya affirmed the Philippines’ strong support for the programs and initiatives of the CFC, particularly its project financing and technical assistance to the agricultural sector designed to increase productivity and help eradicate poverty.
Since 1993, the CFC supported 11 agricultural projects in the Philippines, 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.
Established in 1989, 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.
With 101 Member States and nine institutional members, the CFC is dedicated to help addressing poverty alleviation by strengthening the income-generating capacity of commodity producers and sustaining economic growth and development. The CFC website can be accessed through https://www.common-fund.org/.
The Philippines is currently the Vice Chairman for the Asian and Pacific Group of the CFC.
Ambassador Malaya was accompanied by First Secretary and Consul Ma. Theresa M. Alders, and Kieren Batiles, Assistant. END
