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Sierra Leone: UNCDF Investing in Country
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Concord Times (Freetown)
11 March 2008
Posted to the web 11 March 2008
Rachel Horner
The United Nations Capital Development Fund (UNCDF) Programme Specialist on Saturday said the fund offers a combination of investment capital building and technical advisory services to promote micro-finance and local development in Least Developed Countries (LDC).
Gaia Toschi said UNCDF initiatives in Sierra Leone include a micro-finance programme in support to the national financial sector. The programme aims at improving access of poor households and enterprises to inclusive financial services, provide technical assistance and investment capitals (such as loans and grants) to micro-finance institutions.
Moreover, UNCDF is currently supporting a local development programme in Kenema District aiming at improving social services, governance and pro-poor economic infrastructure at the local level.
"Financial and technical assistance are channeled primarily to poor rural and urban areas in the LDCs where typically poverty reduction, capacity and governance challenges are the greatest," she said.
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UNCDF is currently investing in 30 LDCs with an approximate amount of US$130 million. Toschi said UNCDF strives to contribute to the attainment of the Millennium Development Goals (MDGs) and to the implementation of the Brussels Programme of Action for LDCs.
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