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Denmark pledges 60 million Danish Kroner (9 million USD) to Aid for Trade  

16.12.2015  11:45

The 10th WTO Ministerial Conference in Nairobi was kicked off yesterday evening with a number of WTO Member States pledging new commitments to the Aid for Trade facility Enhanced Integrated Framework (EIF) dedicated to assist the Least Developed Countries in their effort to integrate better in world trade.

Denmark pledged 30 million Danish Kroner (around 4.5 million USD) to EIF in 2016. Subject to parliamentary approval and EIF needs, it is our intention to extend support in 2017 of another 30 million. Other major donors are the European Union, Sweden, Finland, United Kingdom, France, Australia, Saudia Arabia and others.

LDCs face more than other countries challenges of fighting poverty. More than 75 per cent of the LDCs' population of around 880 million people still live in poverty. LDCs account for less than 2 per cent of world GDP and around 1 per cent of world trade.

EIF, which enjoys specific mentioning in the Sustainable Development Goals (Goal 8), supports LDCs by helping them tackle supply-side constraints in production and trade. The internationalisation of production can offer new opportunities to integrate into the global economy by allowing firms to join international production networks rather than having to build their own from scratch. Multilateral Aid for Trade co-operation can help firms enter and grow in global value chains.

Thus, through facilitating trade, EIF works towards a wider goal of promoting economic growth and sustainable development and helping to lift more people out of poverty.