WEB DESK
The UN Capital Development Fund has appointed Indian-origin investment and development banker Preeti Sinha as its Executive Secretary, whose focus will be on providing micro-finance assistance to women, youth, small and medium-sized enterprises in under-served communities.
Sinha commenced her tenure as UNCDF Executive Secretary, the highest leadership rank in the institution, on Monday.
Established in 1966, the New York-headquarted organisation provides micro-finance access to Least Developed Countries (LDCs), with the mandate to unlock the full potential of public and private finance.
She will “oversee the organisation’s efforts to deliver scalable impact in order to make the international financial architecture work for the world’s frontier and pre-frontier markets; with a specific emphasis on supporting sustainable development for women, youth, small and medium-sized enterprises, smallholder farmers, and other traditionally underserved communities.”
In a statement, Sinha said her goal would be to make ‘C’ in UNCDF (capital) to be “highly catalytic in mobilising manifold the public and private finance for the LDCs it serves and in developing a new era of engagement with capital markets in 2021 and onwards.”
Sinha succeeds Judith Karl, who retired in February after concluding her 30-year career in the United Nations, the agency said.
Welcoming Sinha, UNDP Administrator Achim Steiner said: “UNCDF’s support for the world’s Least Developed Countries is critical, and I look forward to continuing the strong partnership between our organisations into the future.”