Representatives from donor nations Tuesday pledged more than 100 million US dollar (530 mio. DKR) to help the worlds least developed (mindst udviklede) countries fight poverty by improving their ability to benefit from global trade.
The donations will go to a trust fund aimed at helping poor countries develop the capacity to trade effectively, for example by improving infrastructure or fighting corruption.
Twenty-two of the 34 donor countries represented at the conference in Stockholm made pledges, with the biggest amounts coming from Britain, Denmark, Sweden and Norway.
The program covers 45 of the worlds least developed nations, including Lesotho, Rwanda and Senegal, and is backed by the World Bank, the International Monetary Fund, the World Trade Organization and three UN agencies.
The funds will support development projects under the auspices of the Enhanced Integrated Framework (EIF), an independent body linked to the World Trade Organization.
The donations to the EIF trust fund, made at a conference in Stockholm, are a step toward reaching a target of 400 million dollar in funding over five years. The Swedish government, which hosted the conference, said it was confident the goal would be reached.
The financial support is aimed at aiding the worlds least developed countries, most of which are located in Africa, identify and remove obstacles that keep them from benefiting from international trade and thus reduce poverty.
This can include projects to improve capacity to negotiate complex trade deals as well as aid to develop the infrastructure necessary to bring export goods to a wider market.
Kilde: www.worldbank.org
