WTO Fish Fund Nears Launch of First Grant Call to Support Fisheries Subsidy Pact

The World Trade Organization’s (WTO) Fisheries Subsidies Funding Mechanism, widely known as the Fish Fund, has reached a significant milestone with its Steering Committee agreeing on the steps necessary to launch the first Call for Proposals. This move, finalized during the Committee’s fifth meeting on 19 May, sets the stage for targeted financial support to developing and least developed country (LDC) members as they work to implement the Agreement on Fisheries Subsidies — a landmark international pact aimed at curbing harmful subsidies contributing to overfishing and environmental degradation.

Unlocking the Fund for Implementation Support

The Fish Fund was created under Article 7 of the Agreement on Fisheries Subsidies, which WTO members adopted at the 12th Ministerial Conference in 2022. Designed as a grant-based mechanism, the Fund enables developing and LDC WTO members to access financial and technical assistance once they have ratified the Agreement.

Currently, 99 WTO members have deposited their instruments of acceptance, bringing the world closer to the required 111 ratifications needed for the Agreement to officially enter into force. Once the milestone of 101 ratifications is achieved, the WTO Secretariat will formally open the Call for Proposals, inviting eligible members to submit project ideas aligned with the Agreement’s objectives.

The proposal submission window will remain open for approximately three months, after which proposals will undergo a comprehensive review. Recommendations will be made to the Steering Committee for approval.

Strengthened Governance and New Representation

In a show of expanded inclusivity, the Steering Committee welcomed eight new members to represent beneficiary countries. The newly appointed representatives are from Barbados, The Gambia, Haiti, Mauritius, Peru, the Philippines, Seychelles, and Sierra Leone. Their addition is intended to ensure a broader representation of diverse regional and economic interests among WTO’s developing and LDC members.

The Committee also acknowledged the contributions of Djibouti, Fiji, Gabon, Ivory Coast, Nigeria, Peru, Saint Lucia, and Senegal, who have been actively participating since January 2024. Notably, Peru will continue its service, ensuring continuity in representation.

The Committee affirmed that donor representatives will rotate their positions at a later stage, with flexibility for both donors and beneficiaries to make delegate changes. A key requirement is that at least two LDC members must remain on the Committee at all times, and all members are expected to serve a minimum term of one year.

Ensuring Accountability: The MEL Framework

Another major achievement of the meeting was the approval of the Monitoring, Evaluation, and Learning (MEL) Framework, which will play a critical role in ensuring the success and transparency of funded projects. This framework is designed to assess project effectiveness, identify best practices, and support continuous learning across all implementation activities.

Words of Encouragement from WTO Leadership

WTO Deputy Director-General Angela Ellard emphasized the importance of the Fund in driving forward the shared goal of sustainable ocean management:

"It is a pleasure to open today’s meeting and see the tremendous progress made as we near entry into force. Everyone’s hard work – donors, beneficiaries, and partners – has paid off. The Fund is ready to support the members that have deposited their instruments of ratification and, in so doing, committed to a more environmentally and economically sustainable future and healthier oceans."

Donor Participation and Global Partnerships

Since becoming operational in November 2022, the Fish Fund has received voluntary contributions from a wide array of WTO members. Contributors include Australia, Canada, the European Union, Finland, France, Germany, Iceland, Japan, the Republic of Korea, Liechtenstein, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, the United Arab Emirates, and the United Kingdom.

Additionally, the Fund plans to work in close cooperation with international organizations such as the UN Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), and the World Bank, ensuring a harmonized and multidisciplinary approach to supporting sustainable fisheries.

As the world awaits the final few ratifications needed to trigger the Agreement’s entry into force, the WTO and its partners are laying the groundwork for what promises to be a transformative chapter in global fisheries governance.