UNCDF has been working in Vanuatu since 2008, improving governance and service delivery through fiscal decentralization and increased local investment capacity.
Today, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
Through financial inclusion, UNCDF is jointly implementing the Pacific Financial Inclusion Programme (PFIP) with the UNDP, which is increasomg the number of low-income customers who adopt formal financial services. PFIP will add one million Pacific Islanders to the formal financial sector by 2019 by supporting policy and regulatory initiatives, funding innovation with financial services and delivery channels, disseminating market information, and empowering consumers.
Through local development finance, UNCDF is implementing its Local Climate Adaptive Living (LoCAL) programme, which works with governments to channel global climate adaptation financing to local level.