The Government is to allocate over €5 million to supporting the trade efforts of the world's poorest countries, it was announced today.
Irish Aid has substantially increased its funding for the Aid For Trade initiatives, which tackle the barriers faced by developing states in the global trade system.
Minister of State for Overseas Development Tom Kitt said the pledge of €5.2 million reflects the country's commitment to play its part in EU pledges to increase collective Aid For Trade spending to €2 billion by 2010.
"Trade represents the best chance for developing countries to exit poverty," he said. "Often the poorest countries lack the capacity to take advantage of the trading opportunities already open to them.
"This funding will help them deal with the difficulties they have in getting goods to market. It will allow them to take advantage of export opportunities and negotiate the best deals in the world trade talks. "Ultimately, it will help their efforts to use trade as a catalyst for poverty reduction."
Organisations and programmes receiving funding from Irish Aid include the World Trade Organisation, World Customs Organisation, and the Enhanced Integrated Framework.
