The Women Exporters in the Digital Economy (WEIDE) Fund, a joint initiative by the World Trade Organization (WTO) and the International Trade Centre (ITC), has received a significant boost from the FIFA World Cup Qatar 2022 Legacy Fund. This collaboration aims to empower women entrepreneurs through digital tools and platforms.
WTO Director-General Ngozi Okonjo-Iweala emphasized the importance of this partnership: "This initiative builds on important lines of collaboration already established between the WTO and FIFA. Through our Women Exporters in the Digital Economy (WEIDE) Fund, this ground-breaking collaboration will help scale up capacity for women entrepreneurs seeking to use digital tools and platforms to access new opportunities and global value chains."
Pamela Coke-Hamilton, ITC Executive Director, highlighted the benefits for women entrepreneurs: "This is a win for women entrepreneurs. FIFA's pledge to our WEIDE Fund will go a long way to ensuring more women have the capital and the capacity they need to grow their businesses through trade, so they can earn more, create jobs, and invest in the socioeconomic development of their countries."
FIFA President Gianni Infantino stated: "The FIFA World Cup Qatar 2022 Legacy Fund is a landmark project that builds on the unprecedented impact of the tournament from a sustainability point of view." The fund is set to invest US$ 50 million into social programs with partners including WTO, UNHCR, WHO, and Qatar's Supreme Committee for Delivery & Legacy.
An online meeting presented this initiative with participation from key leaders such as Mr. Infantino, DG Okonjo-Iweala, Ms. Coke-Hamilton among others.
Previously in September, a grant agreement was signed by UAE government contributing US$ 5 million to WEIDE Fund. A call was made for business support organizations (BSOs) partnerships during its pilot phase; results are expected in January 2025.
These BSOs will assist launching competitions targeting hundreds of women across four developing countries offering grants up-to US$30k plus technical assistance.
Unveiled earlier at February’s MC13 conference held Abu Dhabi -the WEIDE fund targets empowering micro/small enterprises led by women having export potential or actively exporting via international trade/digitalization efforts focusing mainly on improving financial access alongside enhancing digital skills/export competitiveness amongst other goals
With an aim raising $50M initially targeting half amount from both public/private sectors – collaborative efforts alongside knowledge sharing shall remain pivotal towards achieving sustainable/scalable solutions sought under this program whose activities span multiple nations implemented via selected BSO partners chosen through competitive proposal calls utilizing dual-track systems designed meet specific needs those targeted businesses receiving support services/grants within each country context
More information about WEIDE can be accessed online.