The United Nations Development Program (UNDP), through the United Nations Capital Development Fund (UNCDF) has committed USD 4 million to building an inclusive financial sector in Rwanda. The funds will continue the implementation of Rwanda’s National Microfinance Strategy from 2009 through 2014. Rwandan Minister of Finance, John Rwangombwa, noted that, “the support given by UNDP/UNCDF is aligned to Financial Sector Development Programmes and the National Monetary Fund Policy Implementation Strategy to contribute to the refinancing and sustainable management of Microfinance Institutions.” Minister Rwangombwa stated that the projects aims to improve productivity and enhance the market access of microenterprises.
Tuesday, December 22, 2009
MICROCAPITAL BRIEF: United Nations Development Program (UNDP) Commits $4m To Build Inclusive Financial Sector in Rwanda
About United Nations Development Program (UNDP):
The United Nations Development Program (UNDP) is the United Nation’s development arm. The mission of UNDP is to provide developing countries with knowledge, experience and resources in line with the United Nations’ Millenium Development Goals (MDGs). UNDP operates in 166 countries and works directly with national goverments. UNDP also publishes the annual Human Development Report, which provides a benchmark for development from each of its country offices. UNDP website: http://www.undp.org
About United Nations Capital Development Fund (UNCDF):
The United Nations Capital Development Fund (UNCDF) provides investment capital and technical advice to developing countries to promote microfinance and private sector development. UNCDF currently invests in thirty-eight of the least developed countries with a total programme portfolio amounting to approximately $200 million. Through its programs, UNCDF strives to contribute to the attainment of the Millennium Development Goals (MDGs). UNCDF website: http://www.uncdf.org/english/about_uncdf/
 Original article: http://www.newtimes.co.rw/index.php?issue=14114&article=23897