About United Nations Capital Development Fund
Created by the General Assembly in 1966 to promote economic development, UNCDF began focusing the world’s least developed countries in 1974.
For the next twenty years UNCDF financed stand-alone capital infrastructure -- roads, bridges, irrigation schemes -- mostly in Africa. It received about $40 million in core funding per year and operated out of UNDP country offices.
In the mid-1990s UNCDF began to focus to the role local governments could play in planning, financing and maintaining capital investments. Promoting effective infrastructure investment and service delivery via decentralized public financial management has been UNCDF’s mainstay ever since. UNCDF’s other major area of expertise – microfinance – also dates to the mid-1990s, when many of its rural development project had credit components.