Another Indian to lead! Preeti Sinha heads United Nations Capital Development Fund
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New Delhi, Feb 17: The United Nations Capital Development Fund (UNCDF) has appointed Preeti Sinha as the new Executive Secretary. Sinha is an Indian-origin investment and development banker. Post appointment she highlighted that her goal would be to make ‘C’ (capital) in UNCDF. The Executive Secretary is the highest leadership rank in the UNCDF.
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. Sinha will oversee the efforts made by the organization 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 and medium-sized enterprises and smallholder farmers.
Sinha is succeeding Judith Karl, who retired in Feb 2021, after concluding her 30 year tenure in the United Nations. UNDP Administrator Achim Steiner said to welcome Preeti Sinha that "UNCDF's support for the world's Least Developed Countries is critical, and I look forward to continue the strong partnership between our organizations into the future."
Sinha served as CEO and President of FFD (Financing for Development) LLC, a specialist development finance firm in Geneva, focusing on resource mobilization, donor relations, innovative capital markets, partnerships, strategy, business development, and impact investment advisory to finance the UN Sustainable Development Goals (SDGs). Prior to FFD, she managed the YES Global Institute, a practicing private sector think-tank for socio-economic development in New Delhi, building the impact investment ecosystem in India, the agency said, adding that she also served in senior resource mobilization roles at the African Development Bank.
The United Nations General Assembly established the UNCDF in 1966, in order to promote the economic development across the world. The organization is headquartered in New York and 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 organization makes public and private finance work for the poor in 47 least developed countries (LDCs) of the world.
Least Developed Countries (LDC) is a list of developing countries that show the lowest indicators of socio-economic development. The United Nations prepares the list, whereby 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.