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UAE Minister of State for Foreign Trade and Chair of the 13th WTO Ministerial Conference, Thani bin Ahmed Al Zeyoudi, pledged $5 million to a $50- million fund established by the World Trade Organization (WTO) to bolster female entrepreneurship.
Announced on February 25, the fund aims to empower women entrepreneurs in developing nations to leverage the digital economy for expanded export opportunities.
“The WTO’s Women Exporters In Digital Economy Fund allows us to celebrate the invaluable contribution of women entrepreneurs and womenled businesses around the world and to recognise the critical role they play in driving economic growth,” highlighted Al Zeyoudi.
This initiative seeks to harness the potential of the digital economy, facilitating financial access for women exporters and enabling them to seize latent prospects.
“This initiative embodies our collective commitment to empowering women,” affirmed Okonjo-Iweala, DirectorGeneral of the WTO, during the fund’s launch, characterising it as a significant stride in bridging the financing gap confronting women entrepreneurs, crucial agents of economic advancement.
In addition to the contribution to the Women Exporters in the Digital Economy Fund, Minister of Foreign Affairs, Sheikh Abdullah bin Zayed Al Nahyan, disclosed the UAE’s provision of a $10 million grant to bolster several key WTO initiatives.
The grant will be directed towards the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy (WEIDE) Fund, said articulated Al Nahyan, reaffirming the UAE’s commitment to advancing global economic development and gender inclusivity.
