The WEIDE Fund has announced the selection of 46 women-led businesses in Mongolia as beneficiaries of its latest round, following a call for applications that received 307 submissions. The chosen recipients include 26 Booster and 20 Discovery grant winners. These micro, small, and medium-sized enterprises (MSMEs) will receive targeted support aimed at enhancing their digital skills, financial preparedness, and potential to export.
The announcement was made during the World Women Entrepreneurs Forum in Ulaanbaatar. This marks the start of a year-long programme for the selected businesses. Similar initiatives are underway in other countries: beneficiaries in Nigeria were announced on August 14, while announcements for the Dominican Republic are expected soon and Jordan is preparing to open its application process.
WTO Director-General Ngozi Okonjo-Iweala stated: "It is with great pleasure that I welcome the women entrepreneurs in Mongolia who have been selected to receive support from the WEIDE Fund. As a landlocked developing country, Mongolia stands to gain immensely from digital trade, unlocking opportunities to access international markets far beyond its borders. Women must be at the forefront of this transformative journey, and today’s milestone marks a pivotal step in ensuring their active participation in shaping a more inclusive and prosperous future."
Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC), addressed participants via video message: "To our women entrepreneurs here: thank you for placing your trust in us. Your stories, your commitment and your ingenuity will be an inspiration for more women to chase their business dreams, and to dare to go digital."
Ambassador Gerelmaa Davaasuren of Mongolia said: "Mongolia has a proud legacy of women leaders, from queens who guided empires to modern women who excel in business, politics and education. Mongolia was among Asia’s first to grant women the vote, and today they shape our economy and politics. The WEIDE Fund builds on this legacy, empowering women to lead and our nation to thrive. More than financial support, the Fund is a platform for collaboration, a promise of partnership and a spark for transformation. It will strengthen grassroots initiatives, amplify local voices, and unlock the potential of entrepreneurs, farmers, educators and changemakers across Mongolia."
MNCCI Secretary General Saruul Bulgan commented: "The official launch of the WEIDE Fund in Mongolia is a matter of great honor and significance. Being selected among the first four countries worldwide demonstrates the recognition of Mongolia’s commitment to promoting gender equality and inclusive trade. This initiative provides an important opportunity to strengthen the role of women entrepreneurs in the digital economy and enhance their participation in international trade. The Mongolian National Chamber of Commerce and Industry stands ready to ensure that the project is implemented with transparency, inclusiveness and tangible results, thereby contributing to our national development goals."
In each participating country or territory receiving assistance from WEIDE Fund grants—including those supported by ProDominicana (Dominican Republic), Jordan Enterprise Development Corporation (Jordan), MNCCI (Mongolia), or Nigerian Export Promotion Council—selected MSMEs will join two-day events combining launch ceremonies with technical training sessions.
The US$50 million WEIDE Fund is backed by contributions from entities such as United Arab Emirates donors as well as organizations like FIFA World Cup Qatar 2022 Legacy Fund https://www.fifa.com/about-fifa/organisation/news/fifa-world-cup-qatar-2022tm-legacy-fund-supports-women-entrepreneurs-in-trade-digital-economy-and-export-development-through-weide-fund-launch-in-mongolia-and-nigeria--and Bahrain https://www.mofa.gov.bh/Default.aspx?tabid=7824&language=en-US&ItemId=25286&mid=15684 . The fund aims at reducing barriers faced by women-led MSMEs through better access to finance resources https://www.intracen.org/news-events/news/weide-fund-launches-in-mongolia-to-support-women-led-businesses , improved digital competencies https://www.wto.org/english/news_e/news24_e/women_14aug24_e.htm , entry into global markets https://mncci.mn/en/news/3157 , as well as strengthening peer networks.
More information about this initiative can be found on official websites.