Co-organized by Djibouti, Finland, and the Executive Secretariat of the Enhanced Integrated Framework (EIF), a recent event emphasized the importance of strengthening international partnerships to support trade and investment priorities in Least Developed Countries (LDCs). The event also unveiled plans for EIF Phase Three, a program exclusively dedicated to LDCs.
New funding commitments were announced by several countries to support this new phase. Sweden pledged SEK 75 million (approx. CHF 6.3 million), Denmark DKK 20 million (approx. CHF 2.5 million), Norway NOK 12 million (approx. CHF 0.9 million), France EUR 300,000 (approx. CHF 0.3 million), and Liechtenstein CHF 50,000. These contributions build on previous pledges from Finland of EUR 2.5 million (approx. CHF 2.3 million) and GBP 400,000 (approx. CHF 0.4 million) from the United Kingdom.
Director-General Okonjo-Iweala highlighted the gap between development needs and resources in her opening remarks, emphasizing the EIF's role in aiding LDCs through trade benefits: "The partnership has gone from strength to strength," she stated, noting its support for USD 1 billion in LDC exports and improvements for small farmers and entrepreneurs.
She shared an example of success with Sittina Farate Ibrahima from Comoros who developed her biocosmetics business with EIF support: "Today, 80% of her products are exported to Europe."
Looking forward, DG Okonjo-Iweala welcomed the ambition behind EIF Phase Three with its USD 200 million funding target: "We hope we can count on all partners in bringing this vision to life." She noted that this event serves as a precursor for launching the next phase at the upcoming Ministerial Conference.
Ministers from Djibouti, Finland, Guinea, along with representatives from other nations such as Sweden and Germany attended the event alongside UNCTAD Secretary-General Rebeca Grynspan who delivered closing remarks.
H.E Ilyas Moussa Dawaleh expressed that "EIF Phase Three comes at a critical time" for WTO LDC Group countries needing mechanisms that catalyze efforts towards innovation and stronger institutions.
Finnish Minister H.E Ville Tavio affirmed Finland’s commitment: "Finland is proud to contribute to this next chapter," highlighting their belief in trade's transformative power when combined with targeted support.
A follow-up pledging event is scheduled for September on the margins of WTO Public Forum in Geneva aiming at mobilizing USD 200 million under EIF Phase Three for enhancing trade capacities among LDCs.