Finland supports least developed countries’ trading opportunities

NordenBladet — In 2021–2022, Finland allocates EUR two million for the Enhanced Integrated Framework (EIF), which works to strengthen the creation of trading opportunities for least-developed countries (LDCs). The agreement on the support was signed on 23 March 2021 in Geneva.

Finland has supported the EIF partnership since 2008 by approximately EUR 23.5 million.Minister for Development Cooperation and Foreign Trade Ville Skinnari considers that the support to the EIF is important in that it strengthens least developed countries’ financial capacity.

“Least developed countries have not benefited from the opportunities offered by global trade as was expected when the Sustainable Development Goals (SDGs) were adopted.  Through its long-term support, Finland strengthens LDCs’ export efforts and helps to lay a foundation for recovery in the aftermath of the COVID-19 pandemic. I am also happy that the EIF is assisting LDCs to reform their economies in a more equitable and climate-resilient direction,” the Minister says.

Enhanced Integrated Framework is a global partnership of donors and international organisations committed to assisting least developed countries in the empowerment and diversification of their economies. The EIF helps them harness global trade to achieve sustainable economic growth, create jobs, and reduce poverty.