Bangladesh Ambassador to the Netherlands Sheikh Mohammed Belal has been elected new Managing Director of Common Fund for Commodities (CFC).
This is a proud moment for Bangladesh, Ambassador Belal told UNB confirming the outcome.
There were six candidates for the post that came down to four before going for votes, he said.
The Common Fund for Commodities is an autonomous intergovernmental financial institution established within the framework of the United Nations. It forms a partnership of 101 Member States plus nine institutional members.
Membership of the Fund is open to all States Members of the United Nations or any of its specialised agencies, or of the International Atomic Energy Agency, and intergovernmental organisations of regional economic integration which exercise competence in the fields of activity of the Fund.
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.
The first commodity development project was approved in 1991.
Earlier, the Governing Council at its 27th Annual Meeting elected, by acclamation, Parvindar Singh as Managing Director for a four-year term from January 1, 2016 until December 31, 2019.