Statement by the Managing Director during Item 2 of the 74th Session of the FAO’s Committee on Commo

So, we came here with a humble appeal to all of you, to take a walk back to the root of the problem. [...] Recognizing this situation and in line with its mission of promoting sustainable development in the CDDCs, during this pandemic the CFC reinforced its commitment to support the Small and Medium Enterprises working in the commodities value chains in developing countries. [...] With the ELF, the CFC aims to give healthy businesses access to short-term liquidity to help them endure the immediate effects of the crisis. [...] The quick operationalization of this new Facility reflects the primary concern of the CFC about the short term and long-term impact of the pandemic on CDDCs. [...] The ELF will allow the CFC to support the vitality of SMEs in the commodity sector of CDDCs, so that they can overcome the pandemic, and expand their presence in the global markets once the recovery sets in.