The government of the Grand Duchy of Luxembourg recently announced its 2019 contribution to support the UN Capital Development Fund (UNCDF) in working toward the UN sustainable development goals (SDGs) in least developed countries such as Bhutan, Liberia and Senegal. Luxembourg has pledged a total of EUR 800,000 (USD 917,000) to “thematic” areas such as food security, women and youth economic empowerment, and investing in public-private infrastructure; EUR 200,000 (USD 229,000) for efforts focusing on suburban and rural areas in sectors such as fiscal decentralization and climate finance; and an additional EUR 200,000 (USD 229,000) for financial inclusion. Luxembourg has been a contributor to UNCDF since 2008.
UNCDF, which was founded in 1961, works to deliver poor people in the world’s 47 least developed countries “capital and technical support through Inclusive Finance programmes to ensure that more households and small businesses gain access to financial services.” The organization also finances governments and other organizations to fund projects relating to job creation, economic empowerment for women, clean energy, food security and resilience to climate change. In 2017, UNCDF received USD 60.3 million in total contributions. During that year it supported 138 financial service providers that report achieving an increase in client deposits totaling USD 6.5 billion.
By Michelle Fleming, Research Associate
Sources and Additional Research
UNCDF press release
http://www.uncdf.org/article/4237/luxembourg-continues-commitment-to-support-uncdf-for-2019
Government of Luxembourg
https://gouvernement.lu
UNCDF additional information
https://uncdf-cdn.azureedge.net/media-manager/84999?sv=2016-05-31&sr=b&sig=APUtiIyyf5VRS9GR2kTpCeYy%2BYdRYp%2BnPE9vcv%2BMbSc%3D&se=2018-12-22T15%3A48%3A06Z&sp=r
UNCDF homepage
http://www.uncdf.org
MICROCAPITAL BRIEF: UNCDF, ITC Unveil $18m “Jobs, Skills and Finance for Women and Youth in The Gambia Programme”
https://www.microcapital.org/microcapital-brief-uncdf-itc-unveil-18m-jobs-skills-and-finance-for-women-and-youth-in-the-gambia-programme/
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