’10 million USD donated to support global trade initiatives”

The United Arab Emirates (UAE) has announced a generous donation of USD 10 million to three WTO trust funds, aimed at benefiting developing members and least-developed country (LDC) members. The donation, announced by Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, is intended for the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy (WEIDE) Fund.

This announcement came as the 13th Ministerial Conference began in Abu Dhabi. Dr. Okonjo-Iweala, the Director-General of the WTO, expressed profound gratitude for the UAE’s contribution, emphasizing the country’s commitment to fostering sustainable and inclusive trade. The donation is set to enhance fisheries sustainability, facilitate trade for least-developed countries, and empower women entrepreneurs.

The Fisheries Funding Mechanism aims to provide technical assistance and capacity building to assist developing and LDC members in implementing the Agreement on Fisheries Subsidies. The EIF Trust Fund aims to help least-developed countries participate and benefit from international trade opportunities. Additionally, the Women Exporters in the Digital Economy (WEIDE) Fund, scheduled to be launched during the conference, will support women-led businesses in developing countries to adopt digital technologies and expand their online presence.

Sheikh Abdullah expressed his pleasure in announcing the USD 10 million grant to support these important funds, underscoring the UAE’s commitment to advancing global trade initiatives. This donation reaffirms the UAE’s pivotal role as the host of the Ministerial Conference, where such impactful initiatives can make a tangible difference on a global scale.