Finland has committed EUR 700,000 to the Enhanced Integrated Framework (EIF) Interim Facility, a mechanism designed to bridge the gap between the conclusion of Phase Two of the EIF and the establishment of a new multilateral support system for Least Developed Countries (LDCs). This interim facility aims to ensure continued assistance while discussions on a future support mechanism are underway within a taskforce at the World Trade Organization (WTO).
With this latest contribution, Finland's total support for the EIF Trust Fund approaches USD 30 million. WTO Director-General Ngozi Okonjo-Iweala commented, “I am delighted that Finland has made this important contribution to the EIF and by extension to the LDCs. It is also timely that this contribution be made during the Aid for Trade Global Review as it represents tangible support that will help to further boost capacity in LDCs.”
Ms. Schroderus-Fox, Chair of the EIF Steering Committee, remarked, “Finland is pleased to be contributing to the EIF Interim Facility. This support is an expression of our continued commitment to assisting LDCs in their efforts to improve trade capacities, participate more fully in the global trading system and achieve sustainable economic growth.”
Mr. Adhikari added, “Through its new contribution, Finland is upholding its commitment to strengthening LDCs' trade capacities so they may access international markets more effectively and grow their exports. Coming at a pivotal moment, this support will play a crucial role in enabling us to continue our mission to build LDCs' trade capacities and drive inclusive economic growth in these countries. Finland's long-standing commitment is vital for advancing our shared objectives of sustainable growth and for reducing poverty in the world’s most disadvantaged nations.”
Since its inception, the EIF has been dedicated exclusively to helping LDCs use trade as an engine for sustainable economic development and poverty alleviation.