Norway has pledged its support to bolster sustainable economic growth in least developed countries (LDCs) by contributing NOK 20 million to the Enhanced Integrated Framework (EIF). This initial contribution of CHF 1.2 million marks the commencement of Norway's commitment to the newly established EIF Interim Facility, designed to sustain the progress achieved by LDCs with EIF's assistance.
The announcement was made during a ceremony at the WTO headquarters, attended by WTO Director-General Ngozi Okonjo-Iweala, Norway's WTO Ambassador Petter Ølberg, Ambassador Kadra Hassan of Djibouti representing the WTO LDC Group, and EIF Executive Director Ratnakar Adhikari.
DG Okonjo-Iweala expressed gratitude to Norway for its generous donation, emphasizing the significance of the EIF Interim Facility in supporting LDCs until the end of 2024. The facility plays a crucial role in ensuring ongoing projects reach completion and contribute to inclusive growth in LDCs.
Norway's contribution aims to enhance the trade environment for inclusive and sustainable growth in LDCs, facilitating their exports and access to international markets. Discussions are underway within a WTO taskforce regarding a future multilateral Aid for Trade support mechanism tailored to LDCs.
Ambassador Ølberg highlighted Norway's commitment to supporting the EIF Interim Facility, emphasizing the importance of maintaining momentum and continuity in LDCs' trade strategies. He urged other donors to join in supporting this vital initiative.
Ambassador Hassan expressed appreciation for the Facility's support in addressing critical trade priorities outlined in the Doha Programme of Action for LDCs. He emphasized the importance of additional donor contributions to reinforce efforts towards integrating LDCs into the multilateral trading system.
Norway's contribution to the EIF Interim Facility adds to its longstanding support for EIF-led programs, totaling approximately CHF 42.4 million since 2007.
The EIF remains a pivotal global initiative dedicated to empowering LDCs to harness trade for sustainable economic growth and poverty reduction. As a unique partnership between LDCs, donors, and partner agencies, including the WTO, the EIF continues to play a vital role in building trade capacity and fostering development in LDCs.
