Sweden renews its UN-earmarked contribution to ITC

Sweden has since 2006 provided un-earmarked funds to the International Trade Centre (ITC). In December 2009, Sweden and ITC entered into agreement on a new multi-year un-earmarked contribution to the ITC Trust Fund. The contribution amounts to 120 million Swedish Kronor (approx. USD 17 million) over a period of four years.

Sweden is one of ITC’s longest standing partners, and has supported ITC ever since its establishment in 1964.

“Sweden regards ITC as a key partner in our work for pro-poor growth through trade development. Our multi-year un-earmarked contribution will give ITC predictability in financing, in line with the Aid for Trade recommendations. Moreover, we expect the un-earmarked funds to provide ITC with improved scope for a more strategic and streamlined delivery of development results,” says Ulf Källstig, Head of Global Programmes at the Swedish International Development Cooperation Agency (Sida). “ITC has
produced significant results for the business community in developing countries through their work. Especially, Sweden welcomes ITC’s increased focus on the pro-poor aspects of trade development as well as on cross-cutting themes like gender equality.”

“This is a very welcome contribution from one of our long standing donor countries which underlines its appreciation for ITC’s work, especially in the Aid for Trade area,” said Ms. Francis. “Sweden’s priorities are very much in line with the thrust of our overall strategic planning for the coming years.”

ITC is the joint agency of the World Trade Organization (WTO) and the United Nations, with a mandate to help businesses in developing countries become more competitive in global markets in order to speed economic progress and meet the UN’s development goals.