The WEIDE Fund has announced the selection of 34 women-led micro, small, and medium-sized enterprises (MSMEs) in the Dominican Republic as beneficiaries. The announcement comes after a call for applications that attracted over 200 submissions from businesses across the country. Selected companies will receive support aimed at enhancing their digital skills, financial preparedness, and export potential.
The WEIDE Fund is currently being implemented in four countries through partnerships with business support organizations including ProDominicana, the Jordan Enterprise Development Corporation (JEDCO), the Mongolian National Chamber of Commerce and Industry (MNCCI), and the Nigerian Export Promotion Council (NEPC).
WTO Deputy Director-General Johanna Hill stated: "According to WTO estimates, the Dominican Republic's digital service exports reached nearly $2 billion in 2024, a tenfold increase compared to 2005 driven by improvements in connectivity and the progressive strengthening of digital skills. The country is well-positioned to continue expanding in this area."
She added: "However, the gap in the country's and the region's share in global digital services trade remains small and underscores the need to keep investing in capabilities, infrastructure, financing access and institutional modernization so that more businesses-especially those led by women-can fully integrate into the global digital economy."
Pamela Coke-Hamilton, Executive Director of ITC, commented: "We have to be bold in our ambitions for what we want the WEIDE Fund to deliver. We owe it not just to the women entrepreneurs with us today, but those that we hope will join us tomorrow, and in years to come. I encourage the full ecosystem around the private sector-including small businesses and larger firms, financial institutions, digital platforms and development actors-to work with us."
The fund is supported by contributions from entities such as the United Arab Emirates, FIFA World Cup Qatar 2022T Legacy Fund, and the Kingdom of Bahrain. With a budget of US$50 million, it aims to help women-led MSMEs address challenges related to access to finance, development of digital skills, entry into global markets, and building supportive networks.
Beneficiaries in each participating country will take part in a two-day program featuring an official launch event combined with training sessions focused on leadership and communication skills. Ongoing technical assistance will be provided throughout a year-long engagement. In preparation for this initiative in the Dominican Republic, workshops began in November to introduce participants to methodologies underpinning the program.
More information about this initiative can be found on its official website.