The Hague, 10 December 2025 – The Common Fund for Commodities (CFC) successfully concluded the Thirty-Seventh Annual Meeting of its Governing Council, held from 9 to 10 December 2025 in The Hague, the Netherlands. The meeting brought together delegations from 76 countries, with 38 Member States delivering national statements and six regional groups intervening, underscoring broad engagement and strong collective ownership of the Fund’s strategic direction.
A Landmark Governance Milestone
A defining outcome of the meeting was the activation of the amended Agreement Establishing the Common Fund for Commodities. Adopted without opposition, the decision brings into force amendments approved by the Board of Governors in 2014, marking their long-awaited entry into effect after eleven years.
This milestone reflects a decisive collective commitment by Member States to strengthen the Fund’s governance, modernise its institutional framework, and enhance its capacity to deliver development impact in commodity-dependent economies.
Opening of the Session
The meeting was formally opened by H.E. Ms. Mirjam Blaak Sow, Alternate Governor of the CFC for the Republic of Uganda and Chairperson of the Governing Council. In her opening remarks, she welcomed participants and reaffirmed the CFC’s mandate to empower commodity-dependent communities while advancing inclusive and sustainable development across global value chains.
High-Level Addresses and Strategic Leadership
The Governing Council featured a series of high-level interventions, beginning with remarks by Dr. Martin Fregene, Director of the Agriculture and Agro-Industry Department at the African Development Bank (AfDB), representing the Chief Guest and keynote speaker, Dr. Sidi Ould Tah, President of the African Development Bank Group.
The session also included a keynote video message from Ms. Maryam Bukar Hassan, United Nations Global Advocate for Peace, who emphasised the importance of placing people and communities at the centre of development strategies.
The annual address by Ambassador Sheikh Mohammed Belal, Managing Director of the CFC, highlighted the Fund’s progress throughout 2025 and reaffirmed its commitment to sustainable, inclusive, and people-centred commodity value chains—an approach he described as “humanising the value chains.”
Operational Highlights: 2025 Performance
The Governing Council reviewed the CFC’s operational performance and noted several significant achievements:
- 496 projects financed to date, with a total project value of USD 357.21 million, delivered through grants, loans, and equity investments, including participation in nine agricultural impact investment funds.
- 21 new projects approved in 2025 under the 25th and 26th Open Calls for Proposals, representing a total project value of USD 161.3 million, with USD 21.02 million financed directly by the CFC, alongside extensive administrative and legal support.
These results reaffirm the CFC’s role as a catalytic financier, supporting value creation, resilience, and inclusive growth in commodity-dependent economies.
Governance, Appointments, and Strategic Direction
The Governing Council approved key financial and administrative decisions essential to maintaining the Fund’s strong governance and operational stability.
Member States unanimously elected H.E. Ms. Caroline Kitana Chipeta, Ambassador of the United Republic of Tanzania to the Kingdom of the Netherlands, as Chairperson of the Governing Council for the forthcoming term—reflecting broad confidence in her leadership.
By consensus, the Council also approved the Strategic Framework 2025–2035, providing the CFC with a clear and forward-looking roadmap for the decade ahead. Developed through extensive consultations within the Open-Ended Working Group, the process was led by Mr. Tom Fabozzi (Ireland) and H.E. Ms. Mmasekgoa Masire-Mwamba (Botswana). The Framework sets out shared priorities to guide the CFC’s strategic focus and institutional evolution amid emerging global development challenges.
Appointments of Executive Directors, Alternate Executive Directors, and Vice-Chairpersons of the Governing Council were also confirmed, underscoring Member States’ continued commitment to collaborative leadership and effective stewardship.
Looking Ahead
The Governing Council agreed that its Thirty-Eighth Meeting will be held in The Hague on 2–3 December 2026, while welcoming expressions of interest from Member States wishing to host future sessions.
The meeting concluded with closing remarks by H.E. Ms. Mirjam Blaak Sow, followed by expressions of appreciation from Ambassador Sheikh Mohammed Belal, who thanked delegations for their constructive engagement and spirit of cooperation.
The Common Fund for Commodities reaffirmed its commitment to supporting commodity-dependent communities and advancing sustainable and inclusive development across global value chains.
CFC Side Event: Empowering Smallholders for Climate-Resilient Value Chains
On the margins of the 37th Governing Council, the CFC convened a high-level Side Event titled:
“Empowering Smallholders to Drive Climate-Resilient and Sustainable Commodity Value Chains.”
The session addressed the central role of smallholders in global commodity production and the persistent challenges they face in accessing finance, technology, markets, and data—challenges intensified by evolving sustainability regulations such as the EU Deforestation Regulation (EUDR).
Distinguished Speakers and Contributors
The event featured keynote and expert contributions from:
- Mr. Henrique Choer Moraes, Deputy Head of Mission, Embassy of Brazil to the Netherlands
- Dr. Cheryl Barr Kumarakulasinghe, Deputy Undersecretary, Ministry of Plantation and Commodities, Malaysia
- Mrs. Wang Yan, General Manager, Bank of China (Europe) S.A., Rotterdam Branch
- Prof. Ajay Bailey, Chair in Geographies of Health, Inclusion and Development, Utrecht University
UNCTAD contributions included Dr. Mussie Delelegn and Dr. Andrzej Bolesta, who presented insights from the CFC–UNCTAD study on productive capacities and sustainable development.
Project Showcases
Practical examples from the field were presented by:
- ETG, highlighting regenerative agriculture initiatives in Malawi and Mozambique
- Planting Naturals (Goldtree Ltd.), showcasing certified organic and fair-trade palm oil production in Sierra Leone
- Akhuwat Foundation, the world’s largest Islamic microfinance organisation, supporting millions of smallholder families
Advancing Inclusive Transitions
The Side Event fostered dialogue on climate-smart agriculture, traceable supply chains, inclusive financing, and regenerative production—emphasising collaborative approaches to ensure sustainability transitions are equitable, effective, and development-enhancing for smallholders across the Global South.
