Opening Remarks by the Chairperson of the Governing Council at its 32nd Annual Meeting

Mario Oyarzábal, Chairperson of the Governing Council of the Common Fund for Commodities, Governor of CFC for the Argentine Republic AT THE THIRTY-SECOND ANNUAL MEETING OF THE GOVERNING COUNCIL 9 DECEMBER 2020 Ambassador Sheikh Mohammed Belal, Managing Director Excellencies, Distinguished Delegates Ladies and Gentlemen, It is with great pleasure that I welcome you to the second day of the Thirty-S. [...] Although the COVID-19 has not yet substantially affected the production of most of the commodities and their prices have been inside the range of the previous years, the projections for the future are extremely uncertain. [...] In many cases such price volatility amounts to a redistribution of incomes generated by the commodity sector to the disadvantage of the primary commodity producers in the poorest countries. [...] The growth of the impact investing community creates unprecedented opportunities to mobilize public and private resources towards the achievement of the SDGs, and the CFC may play an important role by uncovering new projects and new opportunities to invest in the CDDCs through commodity value chains. [...] With the world experiencing unprecedent challenges and the COVID-19 imposing additional obstacles for the achievement of the 2030 Agenda, we have to make extra efforts to meet the expectations of CFC Member Countries.