UAE allocates $5mn to support women exporters in digital economy

By Shilpa Annie Joseph, Official Reporter
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UAE allocates fund for Women Exporters In Digital Economy
Officials during the ceremony | WAM

UAE Minister of State for Foreign Trade and Chair of the 13th WTO Ministerial Conference 2024, Dr. Thani bin Ahmed Al Zeyoudi announced that the Emirates has allocated $5 million to a $50 million fund launched ahead of the conference to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy.

“The WTO’s Women Exporters In Digital Economy Fund allows us to celebrate the invaluable contribution of women entrepreneurs and women-led businesses around the world and to recognize the critical role they play in driving economic growth,” the UAE minister said.

Ahead of the WTO’s 13th ministerial conference taking place from 26 to 29 February 2024 in the UAE, Director-General Ngozi Okonjo-Iweala unveiled a groundbreaking $50 million initiative to empower female entrepreneurs in developing countries.

The new fund aims to unlock the power of the digital economy, helping women exporters overcome financing hurdles and capture untapped opportunities.

“This initiative embodies our collective commitment to empowering women. It’s a crucial step towards addressing the financing gap faced by women entrepreneurs, who are key drivers of economic growth and development,” Okonjo-Iweala noted.

Furthermore, HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, also announced that the UAE will provide a $10 million grant to support several key initiatives of the World Trade Organization (WTO). Sheikh Abdullah said that the grant to be provided by the UAE will be allocated to the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy (WEIDE) Fund that will be launched during MC13.

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