Two new contributions totaling nearly U$400,000 will be made to the UNCTAD Trust Fund for Least Developed Countries (LDCs) before the end of this year: 1 million Finnish marks (about US$186,000) by Finland and IR137,000 (about US$200,000) by Ireland.
In their respective announcements to the Secretary-General of UNCTAD, Mr.Rubens Ricupero, both countries specified that their contributions were unearmarked. Mr. Ricupero expressed his gratitude to both Member States for their generosity and for their trust in UNCTAD´s assistance to LDCs to help them integrate into the world economy.
With the contributions by Finland and Ireland, finance pledged so far, and commitments in the pipeline, now amount to US$3,300,000, about 70% of the initial target of US$5 million.
Technical cooperation activities undertaken under the Trust Fund focus on strengthening export supply capacities through the development of integrated country-level programmes, including in the context of the follow-up to the October 1997 High-Level Meeting on the LDCs. Such programmes may include support for trade policy reforms and trade diversification, and financial and fiscal sector reforms. Other objectives are to improve trade and investment supporting/promoting services, enterprise development, enhancing the role of women in the development process, promoting trade efficiency and technology. The Trust Fund was established at UNCTAD IX, in May 1996, and became operational in February 1997.
A novel aspect of this Trust Fund is that it is funded not only by tradtional donors, but also by developing countries. Other contributors so far have been China, France, India, Norway, the Republic of Korea, Switzerland, and The Netherlands. Financing will be sought also from non-governmental organizations, as well as private foundations and companies.
There are currently 48 countries classified by the United Nations as least developed, with a population of approximately 600 million and an average annual income of less than US$700 per capita. Out of these countries 33 are situated in Africa.
The 48 LDCs are: Afghanistan, Angola, Bangladesh, Benin, Bhutan, Burkina Faso, Burundi, Cambodia, Cape Verde, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Gambia, Guinea, Guinea-Bissau, Haiti, Kiribati, Lao People´s Democratic Republic, Lesotho, Liberia, Madagascar, Malawi, Maldives, Mali, Mauritania, Mozambique, Myanmar, Nepal, Niger, Rwanda, Samoa, Sao Tome and Principe, Sierra Leone, Solomon Islands, Somalia, Sudan, Togo, Tuvalu, Uganda, United Republic of Tanzania, Vanuatu, Yemen and Zambia.
