International Trade Centre (ITC)
Development cooperation , 09.12.2020

International Trade Centre (ITC)

Description

International Trade Centre (ITC) is a joint international organization created by UNCTAD and WTO and with a mission to advance inclusive and sustainable growth and development in developing countries, especially Least Developed Countries and economies in transition, through strengthening the international competitiveness of micro, small and medium-sized enterprises (MSMEs). The better competitiveness of MSMEs helps them integrate into the global economy and benefit from international trade. The private sector creates more than 90 percent of new jobs in developing countries. Employment brings income to the people and tax revenue to the state to finance public services. Growth of business activity diversifies the economy and creates new opportunities for entrepreneurship through value chains. ITC's impact is contribution to SDGs 1, 2, 4, 5, 8, 9, 10, 12, 16 and 17. To achieve ITC’s mission the goals are: 1) improved national business and trade environments for MSMEs; 2) improved performance of trade and investment support institutions to offer high-quality, sustainable business services to MSMEs; and 3) improved international competitiveness of MSMEs. ITC operates widely in developing countries. Almost 90 percent of ITC's support goes to Sub-Saharan Africa, Least Developed Countries, Small Vulnerable Economies as well as heavily increasingly to fragile states and transit countries of refugees. In addition to MSMEs, the ITC concentrates especially on supporting women and youth entrepreneurs as well as developing the livelihoods of displaced people and the informal business sector. Finland is a long-term partner to ITC. MFA supports the ITC with 5,000,000 euros during 2021-2022. 2,000,000 euros is unearmarked core funding. 3,000,000 euros is also core funding but "softly earmarked" as follows: to support MSMEs to help connect to global value chains; to promote and mainstream inclusive and green trade, incl. SheTrades initiative; and to support the development of the African Continental Free Trade Area (AfCFTA) (One Trade Africa program). Finland's contribution has a strong emphasis on the strengthening of women and youth entrepreneurs' trading opportunities and that of marginalized groups' livelihoods.

More information

www.intracen.org

Funding decision  09.12.2020

5 000 000 €

Target region

Developing countries

Objectives monitored by OECD's Development Assistance Committee

  • Gender equality

Field of activity

  • Business development services 80%
  • Regional trade agreements (RTAs) 20%

Type of aid

Core contributions to multilateral institutions

Special target group

  • youth

Funding channel

Kv kauppakeskus

Contact

tuo-10

Code for the object of funding

89893053

ID

UHA2020-006839

Modified

18.12.2020