WEIDE FUND SELECTS WOMEN BENEFICIARIES IN MONGOLIA AS IMPLEMENTATION GATHERS MOMENTUM

Forty-six women-led businesses in Mongolia have been selected as beneficiaries of the Women Exporters in the Digital Economy (WEIDE) Fund, which was launched by the WTO Secretariat and the International Trade Centre in 2024. The latest cohort of micro, small and medium-sized enterprises was announced at an event in Ulaanbaatar on 25 August in partnership with the Mongolian National Chamber of Commerce and Industry (MNCCI).

The call for applications in Mongolia attracted 307 submissions, with 46 beneficiaries being selected, comprising 26 Booster and 20 Discovery grant recipients. The beneficiaries will receive targeted support to boost their digital capabilities, financial readiness and export potential.

The WEIDE Fund event in Mongolia took place as part of the World Women Entrepreneurs Forum in Ulaanbaatar and marks the start of a 12-month programme for the selected micro, small and medium-sized enterprises (MSMEs). Selected beneficiaries in the Dominican Republic will be announced shortly, while Jordan is preparing to launch its call for applications. Beneficiaries in Nigeria were announced on 14 August.

WTO Director-General Ngozi Okonjo-Iweala said in a statement marking the occasion: "It is with great pleasure that I welcome the women entrepreneurs in Mongolia who have been selected to receive support from the WEIDE Fund. As a landlocked developing country, Mongolia stands to gain immensely from digital trade, unlocking opportunities to access international markets far beyond its borders. Women must be at the forefront of this transformative journey, and today’s milestone marks a pivotal step in ensuring their active participation in shaping a more inclusive and prosperous future."

Executive Director of the International Trade Centre (ITC) Pamela Coke-Hamilton said in a video message: "To our women entrepreneurs here: thank you for placing your trust in us. Your stories, your commitment and your ingenuity will be an inspiration for more women to chase their business dreams, and to dare to go digital."

Ambassador Gerelmaa Davaasuren of Mongolia said: "Mongolia has a proud legacy of women leaders, from queens who guided empires to modern women who excel in business, politics and education. Mongolia was among Asia’s first to grant women the vote, and today they shape our economy and politics. The WEIDE Fund builds on this legacy, empowering women to lead and our nation to thrive. More than financial support, the Fund is a platform for collaboration, a promise of partnership and a spark for transformation. It will strengthen grassroots initiatives, amplify local voices, and unlock the potential of entrepreneurs, farmers, educators and changemakers across Mongolia."

MNCCI Secretary General Saruul Bulgan said: "The official launch of the WEIDE Fund in Mongolia is a matter of great honor and significance. Being selected among the first four countries worldwide demonstrates the recognition of Mongolia’s commitment to promoting gender equality and inclusive trade. This initiative provides an important opportunity to strengthen the role of women entrepreneurs in the digital economy and enhance their participation in international trade. The Mongolian National Chamber of Commerce and Industry stands ready to ensure that the project is implemented with transparency, inclusiveness and tangible results, thereby contributing to our national development goals."

In each beneficiary economy, the selected women-led MSMEs will participate in a two-day programme combining a high-level launch ceremony with in-person technical training and capacity-building.

The WEIDE Fund, made possible through the support of the United Arab Emirates, the FIFA World Cup Qatar 2022TM Legacy Fund and the Kingdom of Bahrain, is a US$ 50-million fund supporting women-led MSMEs to overcome barriers to trade by improving access to finance, digital skills, international markets and support networks.

The following four business support organizations will be supporting implementation in the beneficiary countries: ProDominicana, the Jordan Enterprise Development Corporation (JEDCO), MNCCI and the Nigerian Export Promotion Council (NEPC).

More information on the WEIDE Fund can be accessed here.