The Steering Committee of the WTO Fish Fund has made significant strides towards operationalizing the Fund, according to Deputy Director-General Angela Ellard. Speaking at a recent meeting, Ellard highlighted the Committee's progress since January, emphasizing their dedication to providing support by the time of the Agreement's entry into force.
“The progress achieved by the Steering Committee in the short period since January is impressive. It is a testament to your dedication to fulfilling the promise of providing concrete support by the time of the Agreement's entry into force to those members committed to its implementation,” said Ellard.
She noted that formulating rules of procedure, developing an impact statement, defining funding categories, and establishing an application process required focused effort and constructive consultations. “This robust start clearly shows that governments are invested in a sustainable future for our oceans,” she added.
The Steering Committee also endorsed several initiatives for the remainder of 2024. These include drafting a strategy for the Fund, preparing for an initial "Call for Proposals" upon the Agreement’s entry into force, and creating a communications and outreach plan.
Comprising eight WTO members who have donated to the Fund and eight developing or least-developed country members who have ratified it, along with representatives from core partners such as FAO, World Bank Group, and IFAD, the Steering Committee oversees applications for assistance and other operational matters with support from the Fund Secretariat. Developing members and LDCs that have ratified will be eligible for assistance once the Agreement becomes effective.
To date, sixteen donors have contributed over CHF 12 million collectively to the Fund, with an additional CHF 2 million pledged. Donors include Australia, Canada, European Union member states among others.
Article 7 of the new Agreement on Fisheries Subsidies outlines provisions for a voluntary funding mechanism aimed at providing technical assistance and capacity building to help developing countries implement necessary legislative adjustments and enhancements related to fisheries management policies.
More information on this initiative can be found here.