Director-General Ngozi Okonjo-Iweala said: “I warmly welcome Iceland’s second contribution to the WTO Fish Fund, which reflects its strong commitment to sustainable fisheries and multilateral cooperation. Building on its previous donation, this latest contribution will be instrumental in supporting developing and LDC members as they work to implement the historic Agreement on Fisheries Subsidies.”
Ambassador Einar Gunnarsson of Iceland said: “Iceland is proud to support the WTO Fisheries Funding Mechanism as part of our longstanding commitment to sustainable fisheries and ocean health. By contributing to this fund, we aim to assist developing and least-developed countries in implementing the Agreement on Fisheries Subsidies, ensuring that they have the tools and capacity to join global efforts to protect marine ecosystems. Sustainable Development Goal 14.6 reminds us that collective action is essential, and Iceland remains dedicated to playing its part in fostering sustainable and equitable use of our shared ocean resources.”
The Agreement on Fisheries Subsidies will enter into force upon its acceptance by two-thirds of WTO members. Eighty-nine WTO members have formally accepted the Agreement. Twenty-two more formal acceptances are needed for the Agreement to come into effect. Because the new Agreement will involve adjustments and enhancements to WTO members’ legislative and administrative frameworks, their transparency and notification obligations, and their fisheries management policies and practices, Article 7 of the Agreement provides for the creation of a voluntary funding mechanism to finance targeted technical assistance and capacity building to help developing and least developed country members with implementation.
The Fund is operated by the WTO, with the support of the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), and the World Bank Group. These core partners bring together relevant expertise to support members seeking assistance to implement the Agreement.
Iceland contributed CHF 500,000 to the Fish Fund in September 2023; including the most recent donation, Iceland has contributed a total of CHF 700,000 to the Fish Fund. Between 2002 and 2025, Iceland has contributed CHF 1,025,000 to various WTO technical assistance trust funds.
More information on the fund, which became ready to accept donations on 8 November 2022, is available here.
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