GENEVA – The World Trade Organization (WTO) and the International Trade Centre (ITC) on 27 November celebrated a historic pledge from the FIFA World Cup Qatar 2022 Legacy Fund, which will contribute up to $16.6 million to the Women Exporters in the Digital Economy (WEIDE) Fund.
This donation marks one of the largest commitments ever made to a WTO initiative and aims to empower women entrepreneurs in global trade and digital markets, WTO said in a statement on Wednesday.
FIFA’s pledge includes an initial deposit of $5 million, designed to help women leverage digital tools to access international markets and global value chains.
“This initiative builds on the strong collaboration between the WTO and FIFA,” said WTO Director-General Ngozi Okonjo-Iweala.
“The WEIDE Fund will scale up support for women entrepreneurs, enabling them to use digital platforms to seize new opportunities. This grant is the largest of its kind at the WTO, and we are excited to begin this impactful work.”
ITC Executive Director Pamela Coke-Hamilton highlighted the significant benefits of the donation for women in business.
“FIFA’s contribution will ensure more women can access the capital and capacity needed to grow their businesses, create jobs, and drive economic development,” she said.
“This is a win for women entrepreneurs globally.”
FIFA President Gianni Infantino praised the Legacy Fund as a landmark initiative. “The FIFA World Cup Qatar 2022 Legacy Fund builds on the lasting impact of the tournament, focusing on sustainability and social development,” Infantino said.
The Legacy Fund, which is investing $50 million in a series of global social programs, is being implemented in collaboration with the WTO, the UN High Commissioner for Refugees (UNHCR), and the World Health Organization (WHO).
The WEIDE Fund, unveiled in February 2024, is part of this broader effort to support women-led micro and small businesses, particularly those with export potential. The fund will provide grants of up to $30,000 along with technical assistance to selected businesses, focusing on women entrepreneurs in developing countries.
“The WEIDE Fund is designed to help women tap into international and digital trade by reducing the finance gap, providing training in digital skills, and connecting them to global markets,” said Okonjo-Iweala.
With an initial target of $25 million, the fund aims to raise a total of $50 million through public and private sector partnerships. The initiative will roll out in partnership with business support organizations (BSOs) in four developing countries, with pilot phase details set to be announced in January 2025.
The project will provide tailored support through grants and technical assistance to help women entrepreneurs expand their businesses and gain access to critical resources, networks, and export opportunities.
As part of the effort to drive sustainable growth, the WTO and ITC will continue seeking partnerships with governments, development banks, and philanthropic foundations to maximize the impact of the WEIDE Fund.
