On September 11, the World Trade Organisation (WTO) and the International Trade Centre (ITC) announced the commencement of the implementation of a fund for women exporters by welcoming its first grant. This follows on the fund’s launch on February 25 this year, at the WTO’s thirteenth Ministerial Conference, in Abu Dhabi, United Arab Emirates (UAE).

The fund’s full name is Women Exporters in the Digital Economy, abbreviated to WEIDE. It is a global fund that aims to help women tap into opportunities in international trade and the digital economy. The targeted beneficiaries are women-led small and microenterprises (SMEs) in the formal sector that either are already exporters or have the potential to become exporters.

It is envisaged the $50-million fund will unlock opportunities for women entrepreneurs through providing them with access to grants and support from financial institutions to reduce the finance gap, as well as technical assistance and training related to digital skills and improving export competitiveness. Additionally, it will facilitate access to export markets, connect more women to digital market platforms, and provide access to networks and support services, thus creating greater inclusivity. The fund also aims to bring about effective business ecosystems, including through leveraging partnerships with the private and public sectors.

The WTO and the ITC signed the first grant agreement for the fund with the UAE government, which subsequently donated $5- million. The UAE said it was honoured to make a contribution and that its donation reflected its dedication to supporting women’s global advancement in trade and economic development. It added that, by supporting this initiative, it was not only enhancing its commitment to global trade but also ensuring that the benefits of trade are accessible to women entrepreneurs, who are often underrepresented in global trade.

Four business support organisations in developing countries will be selected as partners in the pilot phase through a competitive process. These business support organisations will then help launch competitions in each country, targeting hundreds of women to benefit from the fund through grants of up to $30 000, along with technical assistance.

The fund will actively seek partnerships with various stakeholders, including governments, international organisations, development banks, philanthropic foundations and the private sector to implement initiatives aimed at maximising the impact of the fund’s activities. Collaboration and knowledge sharing will be crucial to achieving sustainable and scalable solutions.

The fund’s activities will be implemented through projects in specific countries in cooperation with business support organisations selected through a competitive call for proposals. At the country level, the fund will implement a two-track system tailored to meet the needs of the targeted SMEs. Both tracks will include a grant and complementary technical assistance.

Track 1 will focus on improving digital skills, expanding professional networks and enhancing market access. The programme of support is expected to last 9 to 12 months. The fund will provide an initial grant of $2 000 to $5 000 to each selected business to provide working capital or for the purchase of equipment. This grant will be disbursed in two instalments, with each business required to set clear business objectives, demonstrate commitment to the aims of the fund and undergo performance checks.

Track 2 will help export or export-ready women-led SMEs scale up their export activities and expand their markets, focusing on the use of digital platforms to do so. The programme for each business is expected to last about 18 months. The fund will provide grants of up to $30 000 to support the selected businesses with working capital and/or for the purchase of equipment. The fund’s technical committee may extend this threshold.

Grant payments will be linked to the achievement of milestones and performance checks. The financial support is intended to incentivise matching finance from other sources. The technical assistance for the booster grant includes bespoke coaching to help the enterprise develop a business acceleration plan. The plan will identify areas for support and investment under the booster grant. Technical assistance may include support to enhance export competitiveness, investment readiness, certification and intellectual property registration, the use of new equipment or technologies, market access and the development of other skills.

More information on the WEIDE fund can be accessed at:

www.wto.org/english/tratop_e/ womenandtrade_e/weide_e.htm