An initiative to raise funds by the World Trade Organisation to help the poorest countries enhance business has missed it target by over Sh23 billion.
The funds drive held during WTO 10th ministerial conference in Nairobi on Wednesday raised only Sh9.2 billion against a target of Sh32.7 billion meant to support the second phase of the Enhanced Integrated Framework (EIF).
The money was received from 15 donors after the Netherlands contributed towards the fund for the first time. The funds is to be spent over a seven-year period.
In a brief to press, EIF secretariat head of communication Mario Musa said the donors were willing to inject more money along the way.
“Some of the donors have expressed that due to their budgeting process they were willing to pledge over two years, so they will put in more money along the way,” he said.
The aid for trade programme is dedicated to support least developing countries to use trade as a vehicle for economic growth and poverty reduction.
The executive director of the EIF secretariat, Ratnakar Adhikari said the money will go into the second phase of the initiative to be launched early next year.
Delegates from over 70 countries, donors as well as heads of international agencies had shown interest in the framework.
Exiting donors put in the same pledges they placed in the last phase.
The first phase saw 23 donor countries raise Sh20.6 billion to support 136 projects in 51 countries across Africa, Asia, the Pacific and Haiti.
It has helped EIF secretariat conduct 42 diagnostic trade integration studies for LDCs and formulating trade strategies in 32 countries.
The framework was established in 1997 by the WTO, the International Monetary Fund, the International Trade Center, the UN Conference on Trade and Development, the UN Development Program and the World Bank, in an effort to provide least developed countries with support in building their trade capacity.
An initiative to raise funds by the World Trade Organisation to help the poorest countries enhance business has missed it target by over Sh23 billion.
The funds drive held during WTO 10th ministerial conference in Nairobi on Wednesday raised only Sh9.2 billion against a target of Sh32.7 billion meant to support the second phase of the Enhanced Integrated Framework (EIF).
The money was received from 15 donors after the Netherlands contributed towards the fund for the first time. The funds is to be spent over a seven-year period.
In a brief to press, EIF secretariat head of communication Mario Musa said the donors were willing to inject more money along the way.
“Some of the donors have expressed that due to their budgeting process they were willing to pledge over two years, so they will put in more money along the way,” he said.
The aid for trade programme is dedicated to support least developing countries to use trade as a vehicle for economic growth and poverty reduction.
The executive director of the EIF secretariat, Ratnakar Adhikari said the money will go into the second phase of the initiative to be launched early next year.
Delegates from over 70 countries, donors as well as heads of international agencies had shown interest in the framework.
Exiting donors put in the same pledges they placed in the last phase.
The first phase saw 23 donor countries raise Sh20.6 billion to support 136 projects in 51 countries across Africa, Asia, the Pacific and Haiti.
It has helped EIF secretariat conduct 42 diagnostic trade integration studies for LDCs and formulating trade strategies in 32 countries.
The framework was established in 1997 by the WTO, the International Monetary Fund, the International Trade Center, the UN Conference on Trade and Development, the UN Development Program and the World Bank, in an effort to provide least developed countries with support in building their trade capacity.
An initiative to raise funds by the World Trade Organisation to help the poorest countries enhance business has missed it target by over Sh23 billion.
The funds drive held during WTO 10th ministerial conference in Nairobi on Wednesday raised only Sh9.2 billion against a target of Sh32.7 billion meant to support the second phase of the Enhanced Integrated Framework (EIF).
The money was received from 15 donors after the Netherlands contributed towards the fund for the first time. The funds is to be spent over a seven-year period.
In a brief to press, EIF secretariat head of communication Mario Musa said the donors were willing to inject more money along the way.
“Some of the donors have expressed that due to their budgeting process they were willing to pledge over two years, so they will put in more money along the way,” he said.
The aid for trade programme is dedicated to support least developing countries to use trade as a vehicle for economic growth and poverty reduction.
The executive director of the EIF secretariat, Ratnakar Adhikari said the money will go into the second phase of the initiative to be launched early next year.
Delegates from over 70 countries, donors as well as heads of international agencies had shown interest in the framework.
Exiting donors put in the same pledges they placed in the last phase.
The first phase saw 23 donor countries raise Sh20.6 billion to support 136 projects in 51 countries across Africa, Asia, the Pacific and Haiti.
It has helped EIF secretariat conduct 42 diagnostic trade integration studies for LDCs and formulating trade strategies in 32 countries.
The framework was established in 1997 by the WTO, the International Monetary Fund, the International Trade Center, the UN Conference on Trade and Development, the UN Development Program and the World Bank, in an effort to provide least developed countries with support in building their trade capacity.
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