WEIDE Fund will support 34 Dominican exporting companies to enter the digital economy

The Fund for Women Exporters in the Digital Economy (WEIDE, for its acronym in English) was officially presented this Wednesday in the Dominican Republic with the aim of increasing the participation of Dominican women in international trade. During the event, the organizations announced the 34 women-led companies selected as the first beneficiaries of the WEIDE Fund in the country, with our nation being one of the four beneficiary countries. The Dominican Republic is among the initial beneficiary countries of the WEIDE Fund, a US$50 million initiative created to help women-led micro, small, and medium-sized enterprises (MSMEs) overcome barriers to trade by improving their digital capabilities, financial preparedness, and access to international markets. The call for applications in the Dominican Republic attracted more than 200 applications, which underscores the strong interest of women entrepreneurs in expanding their participation in global trade. The event was led by the Secretariat of the World Trade Organization (WTO) represented by Johanna Hill, Deputy Director-General; and the International Trade Centre (ITC); represented by Pamela Coke-Hamilton, Executive Director, in partnership with the Export and Investment Center of the Dominican Republic (ProDominicana), represented by its Executive Director, Biviana Riveiro Disla, with the presence of Minister Victor Bisonó, Minister of Industry, Commerce and Mipymes (MICM).

Strengthening capabilities before launch

In November, the WEIDE Fund held technical workshops and training sessions that introduced the selected women-led businesses to the Fund’s objectives and offered them initial guidance on digital tools and financial management. In each beneficiary country of the WEIDE Fund, the participants are integrated into a two-day program that combines a high-level ceremony for the official launch with in-person training and capacity building, followed by continuous technical support throughout the duration of the Project. In the Dominican Republic, the launch event took place on December 9, following a technical day dedicated to the development of soft skills held at ProDominicana by the team of selected facilitators, on December 8. Launch Event

During the event, Johanna Hill, Deputy Director-General, stated: “Women entrepreneurs in the Dominican Republic demonstrate remarkable innovation, resilience, and ambition. Through the WEIDE Fund, the WTO and the ITC are committed to helping them seize the opportunities of digital trade and strengthen their participation in global value chains. The official launch on December 9th will mark an important step in ensuring that women are not only included in the digital transformation, but are also leading it.”

According to Pamela Coke-Hamilton, Executive Director of the ITC, she added: “The Caribbean has dynamic women-led businesses ready to scale up. The WEIDE Fund provides them with tools, knowledge, and networks to accelerate their growth and reach new markets. We are excited to present the first cohort of beneficiaries in the Dominican Republic and to accompany them at every stage of the process.” Biviana Riveiro, Executive Director of ProDominicana: “Being part of the first phase of implementation of the WEIDE Fund is a recognition of the work that the Dominican Government and ProDominicana have been promoting, as different institutions have public policies in place in this regard, as well as the support given by our institution to the entrepreneurial ecosystem of women-led companies consistently for more than 5 years, whose purpose is to strengthen the participation of women in international trade.” Riveiro stated that “The national call exceeded all expectations: more than 200 women entrepreneurs applied to be part of this initiative. This figure reflects the dynamism, creativity, and firm determination of Dominican women to internationalize their projects. Of these applications, 34 women-led companies have been selected as the first beneficiaries of the WEIDE Fund in our country.” From his side, the Minister of Industry, Commerce and Mipymes, Ito Bisonó, highlighted that the launch of the WEIDE Fund is “a tool designed to multiply capabilities, open new doors and accompany the entrepreneurial dreams of women who are already making their mark on the digital economy and in international markets.” He stressed that this initiative responds to the Government’s commitment to promote female participation in the productive sectors with the greatest growth potential. Bisonó added that this effort is being developed in a highly favorable economic context for the country. “Between January and October, our exports exceeded 11.954 billion dollars, growing more than 10%. This dynamism confirms that the Dominican economy is advancing strongly and that women entrepreneurs continue to expand their presence in key sectors and in highly competitive markets,” he affirmed. About the WEIDE Fund The WEIDE Fund administered by the WTO and ITC is made possible thanks to the support of the United Arab Emirates, the FIFA World Cup Qatar 2022™️ Legacy Fund, and the Kingdom of Bahrain. It is currently being implemented in four countries, in collaboration with four business support organizations: ProDominicana, the Jordan Enterprise Development Corporation (JEDCO), the Mongolian National Chamber of Commerce and Industry (MNCCI), and the Nigerian Export Promotion Council (NEPC).