The World Federation of Diamond Bourses (WFDB) will invest in the Natural Diamond Council (NDC) to fund activities aimed at fostering stronger growth in the natural diamond sector.

WFDB is providing financial support as part of the initiative while working together with NDC to boost consumer education and access to natural diamonds through the direct reach of WFDB and its member bourses.

According to WFDB President Yoram Dvash, WFDB values NDC’s increasingly relevant role in promoting the natural diamond narrative in the market. 

Dvash said, “Today’s consumers have more choices than ever before and are heavily influenced by social media and digital platforms. It is crucial to present the natural diamond industry in a creative and authentic way. NDC is successfully doing just that, and we want to support this very important work.”

The partnership can also help protect livelihoods that depend on the sector, especially in regions for whom natural diamonds provide resources for education, health and social infrastructure, added WFDB Vice President Moshe Salem. 

NDC CEO David Kellie said, “We believe that together we can find many ways to collaborate that will benefit the industry as a whole. Collectively, we see considerable growth opportunities ahead, and we will redouble efforts to inspire and move consumers.”

At the World Diamond Congress in March, Kellie had revealed that the NDC had lost nearly half of its financial funding following the outbreak of the Ukraine crisis last year. He then enjoined the industry to help build prosperity for the future by supporting the council in its efforts to grow consumer demand for diamonds.