Dozens killed in clashes between Syrian forces and Assad loyalists
WTO chief launches $50 mln fund for female entrepreneurs in developing world
7:00 CAT | 29 Feb 2024
Photo: @ITCnews/X
The director general of the World Trade Organisation, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy.
The announcement came ahead of the 13th ministerial conference of the WTO which opens on February 29 in the United Arab Emirates.
Okonjo-Iweala, speaking alongside the Emirati Minster of State for Foreign Trade Thani al-Zeyoudi, said the “ground-breaking initiative… embodies our collective commitment to empower women”.
“We need catalytic solutions to solve the financing issue that women face,” she added.
The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
Zeyoudi said his country would contribute $5 million to the fund, adding “this initiative allows us to celebrate the invaluable contribution of women entrepreneurs and women led businesses around the world and to recognise the critical role they play in driving economic growth”.
“While women are one half the world’s population, they only contribute 37 percent to the global GDP,” he said.
Also at the announcement was Saudi Arabian Minister of Commerce Majid al-Kasabi, who called it a “milestone” and said his country was “dedicated” to supporting female empowerment.
Okonjo-Iweala said that in meeting female entrepreneurs, “a common refrain among them is the need for adequate financing to scale their businesses and to tap into the vast opportunities of global trade”.
ℹ️ Press release: https://t.co/BrUSMWshlK@WTO and ITC launched a global fund for women exporters in the digital economy with the 🇦🇪 United Arab Emirates as the first donor, committing $5 million. pic.twitter.com/tjxEDuIgyU
— International Trade Centre (ITC) (@ITCnews) February 27, 2024
At the opening of the @WTO–@ITCnews High Level Event on Women and Trade, in particular the SheTrades Summit. It was energizing to welcome over 200 women from all over the world gathered to discuss entrepreneurship, getting women owned businesses into supply chains and into… pic.twitter.com/WyYxj2uQPJ
— Ngozi Okonjo-Iweala (@NOIweala) February 24, 2024
Source: AFP
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.