DG Okonjo-Iweala said: “It brings me great joy today to launch the pilot phase of applications for the Women Exporters in the Digital Economy Fund. The WEIDE Fund represents a pivotal step forward in our collective journey towards gender equality in trade and economic opportunities. This initiative is about much more than financial contributions and technical advice; it’s about fostering a future in which women are recognized as indispensable drivers of economic progress.”

“One generous donor has helped us kick off this fund with US$ 5 million, which we are signing today and that is the United Arab Emirates. As we launch this, we are going to encourage other donors who will see that it actually works,” DG Okonjo-Iweala said, thanking Sheikh Abdullah Bin Zayed Al Nahyan, UAE Minister of Foreign Affairs; UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi; and UAE’s Ambassador Abdelsalam Mohamed A. Al-Ali.

Ms Coke-Hamilton said: “The WEIDE Fund was set up with a very clear and simple purpose to help these women-led businesses take full advantage of the digital revolution so they would grow trade and take the world by storm. It’s also a promise to women entrepreneurs around the world that we will never falter in our commitment to gender equality underpinned by women’s economic empowerment. It’s what compels us to call on everyone here today to step in and step up so that this WEIDE fund can not only live up to the expectations of women entrepreneurs, but actually surpass them.”

Ambassador Al-Ali said: “The UAE is honoured to contribute US$ 5 million to the WTO-ITC fund. This donation reflects our dedication to supporting the global advancement of women in trade and economic development. By supporting this kind of initiative, we are not only enhancing our commitment to global trade, but also enhance ensuring that benefits of trade are accessible to everyone, including women entrepreneurs, who are often underrepresented in global trade.”

The WEIDE Fund, launched by the WTO and the ITC in February 2024 at the 13th Ministerial Conference (MC13) in Abu Dhabi, aims to empower women entrepreneurs by helping them grow their businesses through international trade and digitalization. Specifically, the targeted beneficiaries are women-led micro and small enterprises in the formal sector which are already exporting or have export potential.

Through a competitive process, four business support organizations in developing countries will be selected as partners in the pilot phase. These business support organizations will then help launch competitions in each country, targeting hundreds of women to benefit from the fund through grants of up to US$ 30,000 along with technical assistance.

The WEIDE Fund will unlock opportunities in international trade and digital trade for women entrepreneurs by improving their access to: grants and support from financial institutions to reduce the finance gap; technical assistance and training related to digital skills and improving export competitiveness; export markets, with the aim of connecting more women to digital market platforms; and networks and support services, with the objective of creating more inclusive and effective business ecosystems including leveraging partnerships with the private and public sectors.

The WTO and ITC aim to raise US$ 50 million for the Fund, with an initial target of US$ 25 million, from public and private sector partners. The Fund will actively seek partnerships with various stakeholders, including governments, international organizations, development banks, philanthropic foundations and the private sector to implement initiatives aimed at maximizing the impact of the Fund’s activities. Collaboration and knowledge-sharing will be crucial to achieving sustainable and scalable solutions.

The Fund’s activities will be implemented through projects in specific countries in cooperation with business support organizations selected through a competitive call for proposals. At the country level, the Fund will implement a two-track system tailored to meet the needs of the targeted MSMEs. Both tracks will include a grant and complementary technical assistance.

More information on the WEIDE Fund can be accessed here.

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The programme, funded by France and Ireland, enables government officials from LDCs and small, vulnerable economies to undertake 10-month secondments in the Geneva-based missions of their respective economies. This involves participating in the WTO’s work in Geneva and representing their economies at WTO meetings as well as attending workshops and training events organised by the WTO. A total of 18 officials participated in this programme this year.

WTO Director-General Ngozi Okonjo-Iweala said: “Ireland’s contribution will help developing economies with small missions in Geneva engage more effectively at the WTO, which in turn will better equip them to seize the benefits that trade offers to improve their people’s lives and livelihoods. I thank Ireland for its continued generosity.”

Ireland’s Minister of State for International Development and Diaspora at the Department of Foreign Affairs Seán Fleming said: “Ireland is proud to be contributing to this important programme. We look forward to welcoming the programme’s participants in Ireland later in September to share our country’s learning and expertise on trade and investment which is so integral to our national prosperity.”

In 2023, Ireland contributed a total of EUR 450,000 (CHF 425,000) to three WTO trust funds, namely the French and Irish Mission Programme, the Standards and Trade Development Facility and the 13th Ministerial Conference LDC Trust Fund, which financed the participation of LDC government officials in the Conference at the end of February. In August 2024, Ireland renewed its annual contribution to the STDF.

Ireland’s contributions to the various WTO trust funds over the years amount to over EUR 16 million (CHF 15 million).

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DG Okonjo-Iweala expressed her heartfelt condolences: “We are profoundly saddened by the loss of Ambassador Ana Cecilia Gervasi whose tireless work on my recent trip to Peru, 5-6 May 2024, made it such a success. Her hard work and dedication to the principles of multilateralism and fair trade have left an indelible mark on the WTO and its mission. Ambassador Gervasi’s contribution to global trade policy will be remembered for years to come. We extend our deepest sympathies to her family, colleagues, President Dina Boluarte, and the Government of Peru during this difficult time.”

Ambassador Gervasi had a distinguished career in diplomacy, serving Peru in various high-level roles, including as Minister of Foreign Affairs and Vice Minister of Foreign Trade. In her role at the WTO, Ambassador Gervasi was an active voice in promoting the interests of developing nations, particularly in the context of Peru’s trade policies.

She represented her country in significant trade negotiations, including the Trans-Pacific Partnership (CPTPP) and the Free Trade Agreement between Peru and the United States.

Ambassador Gervasi’s contributions were instrumental in shaping Peru’s global trade strategy, and her leadership and diplomatic skillset were invaluable assets to the WTO community. Her passing is a significant loss to both her country and the international diplomatic community.

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