ITC - Germany renew their partnership to empower small businesses and promote sustainable trade
Date
12/14/2021 9:05:22 PM
(MENAFN- Caribbean News Global)
By ITC News
GENEVA, Switzerland – The government of Germany and International Trade Centre (ITC) signed a two-year grant agreement to help ITC to support the economic recovery of micro, small and medium-sized enterprises in developing countries and economies in transition. Under the agreement, Germany will provide €2.5 million in unearmarked funding to support the work of ITC throughout 2022 and 2023.
The funds provide much-needed flexibility to ITC to implement its work programme under the new Strategic Plan 2022-2025 – Building inclusive, sustainable and prosperous economies. The renewed partnership will strengthen the competitiveness and resilience of small businesses with a focus on ITC's global public goods including trade and market intellligence platforms. The partnership will target priority themes such as women's economic empowerment, sustainability, digital and climate-resilient trade. The agreement reaffirms the close collaboration between the Federal Ministry for Economic Cooperation (BMZ) and the International Trade Centre (ITC).
Ambassador Dr Hans-Peter Jugel, deputy permanent representative of Germany to the United Nations Office at Geneva, and Pamela Coke-Hamilton, executive director of ITC, signed the contribution agreement during a ceremony at ITC today.
Speaking at the signing ceremony, ambassador Dr Jugel, Chargé d'affairs, a.i. confirmed the importance of the renewed partnership. 'ITC remains a valued partner for Germany. The work of ITC is crucial: Supporting MSMEs, youth and women in developing countries is a major driver for sustainable and inclusive economic development.'
Coke-Hamilton underlined the importance of flexible funding to ITC: 'We are grateful for Germany's continued trust in ITC's delivery. This contribution for the next two years will allow us to make substantial progress towards our common objective of a more sustainable and inclusive economy. On behalf of ITC, the small business community and our partners, I thank the people and the government of Germany.'
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