The WEIDE Fund, designed to support women entrepreneurs, is set to begin its rollout in four countries. This initiative was announced by WTO Director-General Ngozi Okonjo-Iweala, who emphasized the significant growth of digital trade. She stated, "As you all know, digital trade is the fastest-growing segment of global commerce, with trade in digitally delivered services reaching an astounding US$ 4.25 trillion in 2023." Okonjo-Iweala highlighted the fund's potential for women entrepreneurs to overcome market barriers and develop their businesses on a global scale.
In its initial phase, the WEIDE Fund will operate in partnership with business support organizations in four countries: ProDominicana, Jordan Enterprise Development Corporation (JEDCO), Mongolian National Chamber of Commerce and Industry (MNCCI), and Nigerian Export Promotion Council (NEPC). These organizations will facilitate business plan competitions to provide financial and technical assistance tailored for women entrepreneurs.
Pamela Coke-Hamilton, ITC Executive Director, praised the readiness and expertise of these institutions. "Each of these institutions has an impressive track record of empowering the women entrepreneurs in their countries," she said.
The fund offers two tracks of assistance. Track One, known as the Discovery Track, targets micro and small businesses led by women to enhance competitiveness through digital skills improvement and market access expansion. It includes grants between US$ 2,000 and US$ 5,000 along with business coaching over a period of nine to twelve months.
Track Two focuses on more established enterprises under the Booster Track. This provides up to US$ 30,000 in booster grants aimed at scaling export activities using digital platforms. The program runs for approximately eighteen months.
The WEIDE Fund was introduced by the WTO Secretariat and ITC at the 13th Ministerial Conference (MC13) in Abu Dhabi last year. Its goal is to integrate more women entrepreneurs into global value chains while promoting digital technology adoption among them. Since its inception, it has raised US$ 22 million towards a target of US$ 50 million.
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