DHAKA, Nov 30, 2023 (BSS) - Bangladesh's Sheikh Mohammed Belal has been re-elected as the Managing Director of the Common Fund for Commodities (CFC).

Belal has been re-elected at the 35th Annual Meeting of the Governing Council of CFC, said a press release.

The election took place on November 22, 2023 while Belal will serve a four-year term in office from April 2024 upon completion of his current term.

Belal was first elected Managing Director of the Common Fund for Commodities (CFC) in the CFC's Governing Council on December 4, 2019 and officially assumed his post on April 8, 2020.

Prior to his appointment at CFC, Belal was the Ambassador of Bangladesh to the Netherlands with concurrent accreditations to Bosnia and Herzegovina and Croatia from March 2014 to February 2020.

He has also held a number of leadership positions at OPCW, ICC, PCA and served the government of Bangladesh in various diplomatic capacities.

The CFC is an international organization that provides financial support to projects along the commodity value chains in its member countries.

The organization's goal is to promote sustainable development and alleviate poverty by supporting businesses, cooperatives, and institutions involved in commodity production and trade.

The 35th Governing Council meeting brought together representatives from member countries and international organizations.

The CFC's work is essential to the development of commodity-producing countries, and the role of the Managing Director is crucial in ensuring the organization's success, said the organization.

The election of the Managing Director is seen as an important event that will shape the future of the CFC and its impact on the lives of people in member countries.