Team Blitz India
The United Kingdom has pledged £673,000 to boost economic growth in the world’s least-developed countries (LDCs) through the Enhanced Integrated Framework (EIF).
The announcement was made at a ceremony attended by WTO DirectorGeneral Ngozi OkonjoIweala and the UK’s WTO Ambassador, Simon Manley, on April 10 at the WTO headquarters. This announcement forms part of the Swiss Franc (CHF) 1 million commitments that the UK pledged to the EIF Interim Facility during the 13th ministerial conference held in Abu Dhabi in late February.
The Interim Facility serves as a transitional mechanism between the conclusion of phase two of EIF and the establishment of a new multilateral support mechanism for LDCs, under discussion in a taskforce at the WTO. Manley highlighted the UK’s commitment to championing development in the WTO and supporting LDCs to integrate fully and participate in the multilateral trading system.
“We are pleased to be making this additional contribution to the Interim Facility and to be continuing our support of the EIF,” said Manley. The UK’s investment in the EIF Interim Facility aims to strengthen the trade capabilities of LDCs, improve their access to global markets, and foster export growth. With this recent contribution, the UK’s total support for EIF-facilitated programmes since 2007 has reached approximately CHF 32.6 million.
Okonjo-Iweala lauded the UK’s commitment and said, “We express our profound gratitude to the United Kingdom for this donation, which demonstrates a deep commitment to the advancement of the LDCs”.
EIF Executive Director Ratnakar Adhikari emphasised UK’s donation’s critical importance in advancing the trade capacity of LDCs amidst ongoing developmental challenges. “The UK’s unwavering support has been instrumental in propelling our collective endeavours towards sustainable growth and inclusivity in the world’s most disadvantaged nations,” Adhikari said.
