United Nations Capital Development Fund
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The United Nations Capital Development Fund (UNCDF) came into existence in 1966 "as a special purpose fund primarily for small-scale investment in the poorest countries." With the goal of helping to reduce poverty, it engages in development programs and microfinance. UNCDF is affiliated with the United Nations Development Programme[1].
The United Nations Capital Development Fund was established by the UN General Assembly in 1966 as a special purpose fund primarily for small-scale investments in Least Developed Countries. Headquartered in New York with offices around the world, it contributes to the achievement of the Millennium Development Goals in the world's poorest countries through a variety of innovative approaches in local development, including providing support to local governance and the development of inclusive financial services and microfinance.
UNCDF is a member of the United Nations Development Programme (UNDP) group, and reports to UNDP's Executive Board. As such, UNCDF works in close partnership with UNDP in areas ranging from joint programming to administrative and logistical support. The UNDP Resident Representative represents UNCDF at the country level.
The Fund derives its resources from voluntary contributions made by member states, and from co-financing by governments, international organizations and the private sector. UNCDF is committed to results-based management, combining quality programming with financially sound management. The Fund produces concrete results through programmes that pilot innovative approaches to local development and microfinance for replication on a larger scale.
[edit] Investing in Least Developed Countries
UNCDF's overarching goal is to help reduce poverty. Its particular approach is to invest with the poor in the LDCs, building the productive capacity and self-reliance of poor communities by increasing their access to essential local infrastructure and services. The Fund also works to strengthen these communities' influence over economic and social investments that directly affect their lives and livelihoods.
Investing with the poor implies close partnership and emphasizes participation, engagement and dialogue. This approach places firm value on the creative and productive potential of the communities the Fund serves. This is why UNCDF-sponsored investments are planned, implemented and monitored with broad local leadership and popular participation. This is also why UNCDF focuses sharply on promoting transparent and accountable local governing institutions that can take on the responsibility of managing civic assets in the common interest.
Headquarters: New York
Executive Secretary: Richard Weingarten (as of August 2005)
