Denmark pledges over $14m in support to ITC
The Government of Denmark has announced that it will provide more than $14.1 million (90 million Danish kroner) in support to the International Trade Centre (ITC) over a three-year period.
Carsten Staur, Denmark’s Ambassador to the United Nations and other international organizations in Geneva, announced this new funding during the annual meeting of ITC’s Joint Advisory Group on 10 July.
Half the Danish support will be dedicated to supporting ITC programmes on trade-facilitation, non-tariff measures and assistance to connect micro, small and medium-sized enterprises to global value chains. The remaining will be spread across ITC interventions to strengthen the competitiveness of MSMEs at the base of the pyramid, especially in least developed countries.
Ambassador Staur said: ‘We’re very pleased with the work ITC does and the results achieved in recent years. Better integration of least developed countries and low-income countries into the global economy remains a high priority for Denmark and we see ITC playing a key role in the wider Aid for Trade activities to support that. The Danish contribution to ITC, which is subject to yearly Parliamentary approval, aims to contribute to even better prospects for small and medium-sized enterprises in the future.’
Welcoming the Danish announcement, Ms. González said: ‘We are extremely pleased to welcome Denmark back as a key ITC funder and we are grateful for this confidence in the organization’s work. This support from Denmark will help ITC achieve even greater impact in developing countries by strengthening our ability to use trade as a tool to support MSMEs at the base of the pyramid, and ensure inclusive economic growth in countries that need it the most.’