Sweden Continues Commitment to UNCDF by Pledging $3m for 2016

  • February 26, 2016

  • New York, USA

With its recent decision to allocate US$3 million (or 25 million SEK) to UNCDF’s 2016 Regular Resources (or “core"), the Swedish Government has confirmed its strong commitment to UNCDF’s work supporting the world’s Least Developed Countries (LDCs) on their road to graduation.

As one of UNCDF’s top donor countries, Sweden has become a key partner to UNCDF in the fight to eradicate poverty through “last mile” finance models that unlock public and private resources.

"We are honored and proud to work with Sweden, a long-standing partner of UNCDF. This renewed confidence will allow UNCDF to continue expanding innovative uses of blended finance and the investment frontier to the ‘last-mile’ as a means to ensure that growth is both inclusive and sustainable. This last mile is where available resources for development are scarcest; where market failures are most pronounced; and where benefits from national growth tend to leave people excluded. It is here that the success of the SDGs will be judged,” UNCDF Executive Secretary, Ms. Judith Karl, said.

The cooperation between Sweden and UNCDF goes back several decades. Sweden has for many years been one of the main contributors to UNCDF core resources. In addition, between 2010 and 2017 Sweden will have contributed over $31 million to UNCDF in non-core resources. This included the Partnership Framework for Global Initiatives on Inclusive Growth and Sustainable Development (PFIS) 2012-2015, encompassing eight UNCDF global initiatives; and the Leveraging Domestic Finance for Inclusive Growth and Resilience in LDCs (also known as the Booster Resilience Fund) 2014-2017.

“Sweden appreciates UNCDF as a flexible and agile organisation that can have a catalytic effect on investment for development. We know from experience that the UNCDF can significantly leverage relatively small contributions. UNCDF’s innovative business model and creative approach paves the way for sustainable investments and leveraging of public and private resources, in support of national development priorities,” Ambassador Per Thöresson from the Permanent Mission of Sweden to the UN said.