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Home NATIONALFinland donates EUR 5 million for trade projects in LDCs
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Fri, 07 Feb, 2014 12:01:04 AM
FTimes Report, February 7
 
File Picture of European Affairs and Foreign Trade Alexander Stubb. Photo – Lehtikuva.
The Government of Finland has decided to donate 5 million Euros to the Enhanced Integrated Framework (EIF) Multi-donor Trust Fund for supporting trade-related projects in least developed countries (LDCs) during 2014-2015.
 
The contribution adds to the over 8.5 million USD already donated by Finland to the EIF since its inception, according to a press release of the Ministry of Foreign Affairs issued on Thursday.
 
"With this contribution Finland continues its strong support to LDCs in their efforts to integrate into the global economy and to fight poverty through trade," said European Affairs and Foreign Trade Minister Alexander Stubb.
 
He emphasized that the successful outcome at the WTO ministerial conference in Bali was of particular value to small countries as it strengthens the multilateral trading system. 
 
"The EIF can play a strong role in supporting LDCs to fully participate and benefit from multilateral trade agreements," the minister added.
 
EIF's Executive Director Ratnakar Adhikari said, "We greatly appreciate the strong support that Finland has provided to the EIF since the start of the programme".  
 
Finland has been a long standing and active partner of the EIF, a multi-donor programme which supports LDCs to be more active players in the global trading system, said the release.
 
Finland also chairs the EIF Steering Committee, which gathers LDCs, donors and partner agencies to provide overall strategic advice and guidance on the programme's implementation.
 
 
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