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Finland donates EUR1.3 million to help least-developed countries benefit from trade

20 Jan 2009

The Enhanced Integrated Framework aims at enabling least developed countries (LDC) to build their capacity to participate and benefit from international trade opportunities. The global partnership between LDCs, donor countries and international agencies assists LDCs in mainstreaming trade into their development strategies, coordinating the delivery of trade-related assistance and developing supply capacity.

Finland has donated EUR1.3 million (about CHF1.9 million) to the Enhanced Integrated Framework Trust Fund (EIF) and is amongst the first donors to contribute to this fund.

 

The EIF, that has been jointly developed by the partnership to replace the existing Integrated Framework, aims at focusing on the LDCs capacity to manage the programme for maximum sustainable benefits and providing the beneficiaries with increased, additional and predictable resources.

 

"I welcome Finland's valuable and timely donation to the EIF. These contributions will allow Least Developed Countries to expand their markets, integrate in the global economy and take better advantage of the multilateral trading system." declared the WTO Director General Pascal Lamy

 

Finland's Ambassador in Geneva, Mr Hannu Himanen stated "While LDCs benefit from several preferential trade arrangements such as the EU's Everything But Arms initiative, they often lack the capacity and competitiveness to utilize those opportunities. That is why the EIF plays a vital role in strengthening the capacity of LDCs to better integrate into the global economy and to harness the opportunities of international trade to reduce poverty". Ambassador Himanen added that the amount now donated was Finland's biggest annual contribution to the Integrated Framework so far, and should be seen as a sign of the country's commitment to support the global aid-for-trade initiative. In its Aid for Trade Action Plan for 2008-2011, Finland declares that it seeks to reduce poverty, particularly in LDCs, by increasing Aid for Trade and enhancing its effectiveness in the context of environmentally and socially sustainable development.

 

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Source:World Trade Organization