The World Trade Organization (WTO) has announced that its Fisheries Subsidies Funding Mechanism, known as the Fish Fund, has approved USD 2.9 million in its first round of grants. This comes after the WTO Agreement on Fisheries Subsidies entered into force on September 15, 2025, following its adoption at the 12th Ministerial Conference in 2022.
Deputy Director-General Jennifer DJ Nordquist opened the meeting by emphasizing the significance of having an operational financing mechanism in place with the entry into force of the Agreement. She stated: "The Steering Committee's deliberations and decisions on projects that will have a direct and positive impact on the sustainable management of fish stocks could not be more important." Nordquist also expressed gratitude to donors for their support and acknowledged developing and least-developed country (LDC) members for utilizing the Fund to help implement the Agreement.
The Fish Fund was established under Article 7 of the WTO Agreement on Fisheries Subsidies to provide financial assistance to developing and LDC members that have ratified the agreement. These countries are eligible to request funding to support their implementation efforts.
Collaboration with international organizations is a key aspect of how the Fish Fund operates. The Fund works alongside entities such as the UN Food and Agriculture Organization (FAO), International Fund for Agricultural Development (IFAD), and World Bank.
Over USD 18 million has been raised through voluntary contributions from WTO members over three years. Contributors include Australia, Canada, European Union, Finland, France, Germany, Iceland, Japan, Republic of Korea, Liechtenstein, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, United Arab Emirates and United Kingdom.
The Steering Committee overseeing grant allocations consists of representatives from both donor and beneficiary countries: Australia, Barbados, Canada, France, The Gambia, Germany, Haiti, Iceland, Japan, Mauritius, Netherlands, Peru, Philippines, Seychelles, Sierra Leone and Spain.
As of now,116 WTO members have submitted instruments accepting the Fisheries Subsidies Agreement.