Denmark gives DKK 60 million to help create a better trading future for Least Developed Countries

 

29 March 2017

 

The Government of Denmark has pledged DKK 60 million (US$8.5 million) for the second phase of the Enhanced Integrated Framework (EIF) programme, providing an immediate disbursement of DKK 30 million (US$4.287 million) for 2017. The contribution will help to address the national trading challenges of the poorest countries in the world, improving the lives of farmers, traders, business people and local households in the 48 Least Developed Countries (LDCs), primarily in Sub-Saharan Africa, and recently graduated countries, such as Cabo Verde, Maldives and Samoa.

 

Denmark's strong partnership and support to LDCs in building up their trading capacity to create resilient economies is reinforced by its latest contribution to the multi-donor EIF Trust Fund, currently supported by 24 donors. The EIF supports the LDCs to create a trade-conducive environment and work towards a wider goal of promoting economic growth and sustainable development.

 

The EIF, brings together partners and resources to support LDCs and recently graduated countries across Africa, Asia and the Pacific in using trade for poverty reduction, inclusive growth and sustainable development. The partnership, which follows national ownership as a core principle, ensures coordinated, transparent and efficient delivery of Aid for Trade with an additional focus on leveraging resources to sustainably support the LDCs' trade agenda.

 

Ms. Ulla Tørnæs, Minister for Development Cooperation of Denmark states: "I am pleased with EIF’s commitment to improving sustainable development in LDCs through expansion of trade. Denmark wants to promote market-based economic growth and freedom and enhance the development of the private sector in developing countries. The SDGs also acknowledge the importance of EIF’s role in its Goal 8 about sustained, inclusive and sustainable growth and by seeing free and fair trade as an indispensable tool in the fight to eradicate poverty. We are looking forward to continue our cooperation with EIF in order to achieve the necessary impact at country level.”

 

Mr Ratnakar Adhikari, the Executive Director of the Executive Secretariat for the EIF, comments, "I warmly welcome Denmark's contribution to the EIF programme. Denmark's leadership and commitment in advancing better trading futures for LDCs is notable through their work as part of the EIF Board, a programme unique in its objective to develop LDCs' ability to trade. The contributions received will help in supporting inclusive trade and sustainable development for the LDCs, in particular the fragile states where inequalities are drivers of conflict. The programme's focus on sustainable trade, development and poverty alleviation in the LDCs as part of the global efforts to help the LDCs meet the UN's Sustainable Development Goals, ensures the attainment of results that will have a positive impact on poor people's livelihoods, all the more so set against the backdrop of the SDGs time-horizon."

 

Notes to the editors:

 

The EIF is a multi-donor trust fund, which provides coordinated financial and technical support to build trade capacity in all 48 LDCs and three graduated countries. The EIF is the only global Aid for Trade programme exclusively designed for the LDCs and is, therefore, uniquely placed to assist countries to develop sustainable trade strategies, which have a positive impact on people's lives through the promotion of private sector development and job and income opportunities. The EIF is recognized under Goal 8a of the Sustainable Development Goals.

 

For further information, please contact: eif.secretariat@wto.org and www.enhancedif.org

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