Netherlands pledges $10 mn for UNCTAD's e-com, digital economy project

Representatives of both parties signed an agreement for the financial contribution on January 17, 2023. The funds will support the integration of developing countries into the digital economy and enable the benefits of digitalisation to reach all people and businesses, according to a press release by UNCTAD.

“We greatly appreciate the Netherlands’ increased support for our work on e-commerce and the digital economy, and business and investment facilitation,” said UNCTAD secretary-general Rebeca Grynspan. She said the support underscores the growing importance of digitalisation for inclusive and sustainable development in a time of multiple global crises.

“The Netherlands appreciates UNCTAD’s contribution to global digitalisation and linking it to improving business and investment opportunities. We are therefore happy to continue our support and hope other donors will follow the Netherlands in its support for this important programme,” said Liesje Schreinemacher, minister for foreign trade and development cooperation of the Netherlands.

While the COVID-19 pandemic revealed the growing importance of e-commerce, it also exposed digital and data divides between developing and developed countries. The funds will boost UNCTAD’s capacity to meet this growing demand for e-commerce and help bridge the divides.

The Netherlands’ long-standing support to the programme has contributed to building more gender-inclusive digital economies and fostering partnerships to support e-commerce development in low-income countries. Its support for the eTrade for Women initiative has been instrumental in strengthening more than 200 women-led digital businesses.

A further $4 million will fund UNCTAD’s efforts to strengthen digital government services for micro- and small and medium-sized enterprises (MSMEs) and international investors. It will also support enterprise development, accounting, and reporting for MSMEs to strengthen business facilitation.

To boost investment, UNCTAD will use the funds to help strengthen facilitation mechanisms and institutions promoting both national and international investment policies.

The Netherlands’ support has so far strengthened digital business and investment facilitation in six countries in Africa and one each in Asia and Latin America. It has supported the formalisation of more than 400,000 MSMEs and contributed to key publications including UNCTAD’s SDG Investment Trends Monitor and its policy guide on foreign direct investment and gender equality.

Fibre2Fashion News Desk (NB)