The United Nations trade cluster is currently setting sights on the creation of a multi-donor trust fund since at the country level, the cluster seems to be bringing the UN system together to improve its efficiency, coherence and impact on trade and development matters at the country level.
Interestingly, the United Nations Conference on Trade and Development (UNCTAD)-led UN inter-agency cluster on trade and productive capacity is ramping up its initiatives to better support countries to scale up efforts to achieve Sustainable Development Goals (SDGs).
Indeed, the cluster has set its sights on the creation of a multi-donor trust fund in line with reforms proposed by UN Secretary-General António Guterres, who has put a premium on a “funding compact” that promotes pooled funding mechanisms to leverage UN expertise, promote national ownership and open doors to new forms of engagement with a wide range of national partners.
“The cluster has gained recognition over the past 10 years as an important mechanism contributing towards the 2030 Agenda for Sustainable Development in the area of trade and development. It’s time for donors to support it to scale up its activities both at the global and country levels”, UNCTAD Deputy Secretary-General Isabelle Durant said.
During the ECOSOC event in May, representatives of various countries and donors underscored the need to fund the cluster, as it brings the UN system together to improve its efficiency, coherence and impact on trade and development matters at the country level.
They discussed the best funding options to support the cluster and watched a video on the success of the UN inter-agency cluster in Tanzania, which could be replicated in other countries.
Besides UNCTAD, the other members of the cluster are FAO, ITC, ILO, UNDP, UNEP, UNIDO, UNOPS, WTO and the five regional commissions.