Finland pledges EUR 10 million for trade-related support to least-developed countries

At the 10th Ministerial Conference of the World Trade Organization (WTO), the Government of Finland announced it will donate EUR 10 million for trade-related support to least-developed countries for the years 2016–2020.

“Our aim is to support least-developed countries in their efforts to integrate and benefit from international trade opportunities. Trade can be a powerful tool for poverty eradication”, Minister for Trade and Development Lenita Toivakka emphasised.

The Finnish contribution will be made to the Enhanced Integrated Framework (EIF) Multi-Donor Trust Fund. The EIF is a joint initiative of 51 countries, 8 agencies and 23 donors, with the aim of supporting least-developed countries to become more active players in the global trading system by helping them address supply-side constraints to trade.

The first phase of the EIF is coming to a close at the end of 2015 and Phase Two of the EIF begins on 1 January 2016. The pledging conference for the second phase will be held in Nairobi ahead of the WTO Ministerial Conference.  Total funding for the first phase was approximately USD 200 million. Finland donated EUR 12.3 million during the first phase of the EIF.

Inquiries: Mr Antti Piispanen, Commercial Counsellor, Trade Policy Unit, tel. +358 40 134 5930.
For interviews: Ms Marja Koskela, Diplomatic Adviser to Minister Toivakka, tel. +358 40 352 0463.