UAE provides first contribution to EIF Interim Facility to enhance LDC trade capacities
WTO: UAE provides first contribution to EIF Interim Facility to enhance LDC trade capacities
The United Arab Emirates has contributed USD 4 million (CHF 3.4 million) to the Enhanced Integrated Framework’s (EIF) Interim Facility to help promote economic resilience and growth among the world’s least-developed countries (LDCs). The UAE’s contribution was confirmed at a ceremony held on 17 September at the WTO attended by Director-General Ngozi Okonjo-Iweala, the UAE’s WTO Representative and Minister Plenipotentiary Abdelsalam Mohamed A. Al Ali and the EIF Executive Director Ratnakar Adhikari.
UAE provides first contribution to EIF Interim Facility to enhance LDC trade capacities
UAE provides first contribution to EIF Interim Facility to enhance LDC trade capacities
The UAE’s contribution – its first to the EIF – will finance initiatives in LDCs aimed at strengthening trade capacities and facilitating these countries’ integration into the global trading system. Discussions on establishing a new multilateral support mechanism for LDCs are currently taking place in a taskforce at the WTO. The UAE is the fifth donor to the EIF Interim Facility, which was established to maintain momentum in supporting the LDCs during the transition period until the new multilateral support mechanism is operational.
“The UAE’s contribution of USD 4 million to the EIF Interim Facility comes at a crucial time when many LDCs are struggling with slow growth, debt distress and inflation,” said DG Okonjo-Iweala. “By supporting this initiative, the UAE is helping LDCs sustain the progress they have made in building their trade capacities, ensuring they can further integrate into the global economy. We sincerely thank the UAE for their commitment to global development and to strengthening the economic prospects of the world’s most vulnerable countries.”
Ambassador Al Ali said: “The UAE is proud to formalize our USD 4 million pledge to the EIF, marking an important milestone in our commitment to advancing global development efforts. Our contribution to the EIF Interim Facility reflects the UAE’s dedication to fostering economic resilience and empowering LDCs to use trade as a tool for sustainable growth. The UAE is proud to join other donors in supporting this key initiative, which aligns with our shared goals of promoting broad-based and long-lasting growth through trade.”
EIF Executive Director Ratnakar Adhikari said: “We are immensely pleased to welcome the United Arab Emirates as a new donor to the EIF. Their generous first-time donation of USD 4 million is a significant boost to our initiatives aimed at building sustainable trade capacities in LDCs. This timely assistance is a strong testament to the trust placed in our efforts, and it reinforces our capacity to continue making a significant impact in the economic development of LDCs without losing momentum when consistent support is critical.”
First pledged during the WTO’s 13th Ministerial Conference held in Abu Dhabi in February 2024, this contribution complements the UAE’s recent funding for the WTO Fisheries Funding Mechanism and the Women Exporters in the Digital Economy (WEIDE) Fund.
