In April 2012, UNCDF and the Swedish Agency for International Development Cooperation (Sida) signed a four-year Partnership Framework for Inclusive Growth and Sustainable Development (PFIS) intended to channel Swedish investment to a range of innovative UNCDF programmes supporting financial service development and local development finance for the poor in the LDCs.
Since April 2012, a total of approximately 13 million dollars has been disbursed across a total of seven programmes in both of UNCDF’s Practice Areas. The Partnership Framework was conceived as a flexible funding approach allowing UNCDF’s development partners the option of investing in all – or selected – UNCDF global programmes through a single partnership agreement. In addition to providing flexible and predictable financing to UNCDF in line with its commitments under UNCDF’s multi-year strategic framework, the approach is intended to provide a more efficient means of support for our development partners allowing consolidated oversight and inputs into planning of the various programmes that are funded.
With a total commitment of SEK 110,000,000 (USD $16.3 million) for the period 2012-2015, Sida agreed to support UNCDF in its efforts to accelerate progress towards the Millennium Development Goals. A number of UNCDF global initiatives included in the PFIS, including Mobile Money for the Poor (MM4P), Making Access to Financial Services Possible (MAP), CleanStart, the Local Climate Adaptive Living Facility (LoCAL) and the Local Finance Initiative (LFI) began receiving funding in May 2012. In 2013, one additional global gender programme, the Inclusive and Equitable Local Development (IELD) Programme, a women’s economic empowerment programme was launched and also received support under the PFIS agreement.