The Government of Spain has donated €2 million to the World Trade Organization (WTO) Fish Fund to support developing countries in strengthening their fisheries management capabilities under the Fisheries Subsidies Agreement. The donation is the largest to the fund yet, along with Germany’s recent donation of €2 million.
The donation was made by Xiana Méndez Bértolo, Spain’s Secretary of State for Trade, during a meeting with WTO Director-General Ngozi Okonjo-Iweala. Okonjo-Iweala expressed her gratitude for the donation and said that it would be used to help developing countries implement the Fisheries Subsidies Agreement, which aims to eliminate harmful subsidies that contribute to overfishing and illegal, unreported, and unregulated (IUU) fishing.
The Fisheries Subsidies Agreement is the first multilateral agreement to regulate fisheries subsidies. It was adopted by the WTO in 2022 and entered into force in 2023. The agreement requires WTO members to eliminate subsidies that contribute to overfishing and IUU fishing. It also provides for special and differential treatment for developing and least-developed countries to help them implement the agreement.
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The WTO Fish Fund was established in 2021 to support developing countries in implementing the Fisheries Subsidies Agreement. The fund provides financial assistance for technical assistance, capacity building, and other activities that help developing countries implement the agreement.
The donation from Spain is a significant contribution to the WTO Fish Fund and will help developing countries to strengthen their fisheries management capabilities. This is essential for ensuring the sustainability of global fisheries resources and the livelihoods of millions of people who depend on them.