UNCTAD trust funds contribution rises 44% in 2011

The UN Conference on Trade and Development (UNCTAD) says contributions to its trust funds amounted to $44.3 million in 2011, an increase of 44% over the previous year.

According to the specialized United Nations trade agency, contributions from developed countries slightly jumped to $14.4 million representing 32% of total contributions to the trust funds.

Contributions from developing countries also increased by 60% over the previous year and reached $15.1 million, representing the largest share, 34% of contributions to UNCTAD trust funds.

Among the multilateral donors, UNCTAD stated that the European Commission continued to be the single largest contributor accounting for 14.6% of total contributions equivalent to $ 6.6 million.

The trust funds are used to support trade and development activities in Least Developed Countries (LDCs).

By Ekow Quandzie