United Nations Capital Development Fund: Report on results achieved by UNCDF in 2021

UNDP / UNFPA / UNOPS Executive Board, Annual Session 2022

Posted June 9, 2022

Executive Secretary of UNCDF, Preeti Sinha and Associate Administrator of UNDP, Usha Rao-Monari

Photo: UNDP

As prepared for delivery

President, Distinguished Members of the Executive Board, Excellencies, UNCDF Executive Secretary, colleagues and friends,

It is my pleasure to welcome you to the agenda item on the report on results achieved by UNCDF if 2021.

UNCDF’s substantively distinct offer focused on providing innovative financing solutions and using loan and guarantee instruments to support least developed countries, makes it a critical partner to LDCs and the wider UN development system. 

The 2021 report illustrates how UNCDF has made solid progress in delivering on its last Strategic Framework while continuing to adapt and evolve its offer. 

It has expanded its focus from financial inclusion and local transformative finance, to pioneering work on inclusive digital economies and an innovative financing arm to mobilize capital for SDG positive small business and investment projects.

In the Quadrennial Comprehensive Policy Review (QCPR) for 2021–2024, member states recognized that an important role of official development assistance is to catalyze additional resources for sustainable development from both public and private sources. It encouraged the UN development system to explore blended and innovative financing to assist countries to unlock finance, especially for infrastructure and private sector development. 

The 2021 report shows that UNCDF is responding to this call to action. It is now well positioned to serve as an entry point for the wider UN development system to take blended and innovative financing solutions to scale.

With its robust financing approaches, UNCDF will also have an important role in supporting the LDCs to implement the new Doha Programme of Action.

During the First Regular Session this year, the Executive Board took note of UNCDF’s new Strategic Framework, 2022-2025. The Framework further emphasizes UNCDF’s role as the UN catalytic financing entity for the LDCs and as a partner for the wider UN development system to scale up SDG financing.   

UNCDF is a strategic partner for UNDP, with several dozens of joint initiatives based on clear complementarities. We see great opportunities for more systematic collaboration as we begin the implementation of our respective new Strategic Plan and Framework in 2022. 

At a time when the LDCs face the gravest development challenges in a generation, UNCDF’s innovative SDG financing solutions are more needed than ever.  In this regard, let me express our strong commitment to continue to partner with UNCDF to scale up its important work.