Preeti Sinha- To lead United Nations Capital Development Fund

The United Nations Capital Development Fund (UNCDF) has appointed Preeti Sinha as its Executive Secretary. She is an Indian-origin investment and development banker.

Highlights

• The executive secretary will work with her focus on providing the micro-finance assistance to women, youth, small and medium-sized enterprises belonging to the underserved communities.
• The Executive Secretary is the highest leadership rank in the UNCDF.
• Ms Preeti will oversee the efforts made by the organisation in delivering the scalable impact so as to make the international financial environment work for the frontier and pre-frontier markets of the world.
• She will be giving a specific emphasis on providing support for the sustainable development of youth, women, small & medium-sized enterprises and smallholder farmers.
• After she was appointed, she highlighted that her goal would be to make ‘C’ in UNCDF (capital).

About United Nations Capital Development Fund (UNCDF)

The UNCDF was established in the year 1966 by the United Nations General Assembly to promote the economic development across the world. It is headquartered in New York. The organisation helps in providing the micro-finance access to the Least Developed Countries (LDCs). It also has the mandate to unlock full potential of public and private finance. The organisation makes public and private finance work for the poor in 47 least developed countries (LDCs) of the world.

Least developed countries (LDCs)

It is a list of developing countries that shows the lowest indicators of socioeconomic development. The list is prepared by the United Nations. The countries with the lowest Human Development Index ratings across the world are listed in the LDCs. This concept was originated in 1960s.  The UN has listed the first group of LDCs in its resolution 2768 (XXVI) that was passed in 1971.

Month: Current Affairs - February, 2021