WTO Launches $50Mln Fund for Female Entrepreneurs in Developing World

Director-General of the World Trade Organization Ngozi Okonjo-Iweala launched on Sunday a $50 million fund to help female entrepreneurs in developing countries. (UNCTAD website)
Director-General of the World Trade Organization Ngozi Okonjo-Iweala launched on Sunday a $50 million fund to help female entrepreneurs in developing countries. (UNCTAD website)
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WTO Launches $50Mln Fund for Female Entrepreneurs in Developing World

Director-General of the World Trade Organization Ngozi Okonjo-Iweala launched on Sunday a $50 million fund to help female entrepreneurs in developing countries. (UNCTAD website)
Director-General of the World Trade Organization Ngozi Okonjo-Iweala launched on Sunday a $50 million fund to help female entrepreneurs in developing countries. (UNCTAD website)

Director-General of the World Trade Organization Ngozi Okonjo-Iweala launched on Sunday a $50 million fund to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy.

The announcement came ahead of the 13th ministerial conference of the WTO which opens on February 29 in the United Arab Emirates.

Okonjo-Iweala said the “ground-breaking initiative... embodies our collective commitment to empower women.

“We need catalytic solutions to solve the financing issue that women face,” she added.

The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.

Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said his country would contribute $5 million to the fund, adding: “This initiative allows us to celebrate the invaluable contribution of women entrepreneurs and women-led businesses around the world and to recognize the critical role they play in driving economic growth.”

“While women are one half the world’s population, they only contribute 37 percent to the global GDP,” he said.

Also at the announcement was Saudi Arabian Minister of Commerce Majid al-Kasabi, who called it a “milestone” and said his country was “dedicated” to supporting female empowerment.

Okonjo-Iweala said that in meeting female entrepreneurs, “a common refrain among them is the need for adequate financing to scale their businesses and to tap into the vast opportunities of global trade.”



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.