The United Nations Capital Development Fund (UNCDF) is one of the specialised agencies of UNO that creates investment path for the world’s 48 least developed countries. It increases access to microfinance and investment capital through which it creates new opportunities for poor people and their communities.
It was established by UN’s General Assembly in 1966 as an autonomous UN organization affiliated with UNDP. The original UNCDF mandate from the UN General Assembly (UNGA) is to “assist developing countries in the development of their economies by supplementing existing sources of capital assistance by means of grants and loans” (General Assembly Resolution 2186, 13 December 1966). The mandate was modified in 1973 to serve first and foremost but not exclusively the LDCs.
How UN Capital Development Fund is govern and funded?
The organisation is governed by the Executive Board that meet three times in a year which is consist of 36 member states from regional grouping who serve on a rotational basis. The Executive Board falls under the authority of the Economic and Social Council and ultimately UNs the General Assembly.
As far as funding is concern, it raises its fund directly from the UNDP that draws fund from the member states of UN, foundations and private sectors.
What is the working Areas of UN Capital Development Fund?
1. Inclusive Finance for Inclusive Growth
2. Local Development Finance for Inclusive Growth
3. Clean Energy
4. Climate Change
5. Digital Finance
6. Food Security
7. South-South Cooperation
8. Women’s Empowerment
9. Youth Empowerment
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