Uganda to share Shs3 trillion World Trade Organisation fund

Donors confirm support to the EIF Phase Two as WTO 10th ministerial conference opens in Nairobi. Internet Photo

What you need to know:

Utilised. Uganda has already benefited from the first round.

Kmpala. Uganda will be part of the 48 Least Developed Countries (LDCs) that will share $90 million (Shs3 trillion) given by the World Trade Organisation (WTO) wealthy member nations.


This was revealed in a pledging conference which preceded the 10th WTO ministerial conference that kicked off yesterday in Nairobi, Kenya.


This is not the first time Uganda is benefiting from such generosity of the wealthy WTO members although there is no independent verification showing how well such funding has been put to use.


Ministry of Trade, however, says several districts have improved service delivery, thanks to the funding from the rich member nations.


The first round of such funding was, according to the ministry, used to implement the district commercial support services in 25 districts of; Masindi, Kabale, Ntungamo, Isingiro, Mukono, Iganga, Palisa, Kaliro, and Soroti.
Other districts include; Serere, Kapchorwa, Mukono, Sembabule, Mubende, Tororo, Nebbi, Moyo, Lira, Nakasongola, Kotido, Moroto, Pader, Apac, Hoima and Kyenjojo.


According to ministry of Trade public relation and communications officer Hadijah Nakakande, the phase II funding will go towards integrating the LDCs into the global trading system, in addition to fighting poverty through aid to trade.
It was not readily clear how this pledge, if it comes through will be shared. But it is understood that Uganda could part with about $1.8 million (Shs6.2 billion).


Trade Minister Amelia Kyambadde who represented Uganda during the Enhanced Integrated Framework (EIF) pledging Conference in Nairobi, Kenya said with the funding, her Ministry will ensure the trade agenda is mainstreamed in the different sectors of the economy, and projects that address supply side constraints are developed and funded.
The mandate of the EIF programme was extended for a seven year period starting in January 2016.
The seven-year phase (2016 – 2022) requires funding of between $274m and $320m.


This donation, if it comes through, will be used particularly in the 48 poor countries in LDCs to strengthen trade, reduce poverty, increase productive capacity, enhance access to international markets and establish sustainable trade policy and viable institutional framework.


The EIF is a multi-donor trust fund in the WTO, which provides financial and technical support to build trade capacity in all 48 LDCs including Uganda.


While opening the EIF pledging conference for phase two, the director general of the WTO Roberto Azevedo is quoted in a ministry of Trade press brief as saying: “WTO is committed to the EIF in a bid to increase the share of LDC trade.”

Contributors
Norway was the biggest contributor pledging $150m in the period 2016 – 2020, making the pledge on behalf of the Norwegian Government.


Other contributors included Sweden -$ 11.4m, United Kingdom –$10m, Denmark –$ 8.6m, Saudi Arabia –$4m, Switzerland - $2m, Korea –$1m, Finland – 10m Euros, the European Union – 2m Euros, France – 3m Euros, Germany – 1.3m Euros among others.

Welcome!

You're all set to enjoy unlimited Prime content.