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Common Fund for Commodities

The Common Fund for Commodities (CFC) is an intergovernmental financial institution established within the framework of the United Nations. It is a vestige of the proposed New International Economic Order. The CFC finances commodity development projects in developing states.

The CFC was established in 1989. It was set up by a 1980 Andean Community, the Caribbean Community, the Common Market for Eastern and Southern Africa, the East African Community, the Economic Community of West African States, the Eurasian Economic Community, the European Union, the African Union, the Southern African Development Community, and the West African Economic and Monetary Union. The five states that have joined but then withdrawn from the CFC are Australia, Canada, Japan, New Zealand, and Turkey.

External links

  • Common Fund for Commodities
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