With its recent decision to allocate AUD$3 million (US$2.3 million) to UNCDF’s Regular Resources (or “core" funding) for 2018, 2019 and 2020, the Australian Department of Foreign Affairs and Trade (DFAT) has confirmed its strong commitment to UNCDF’s work to develop models for customised financial services and infrastructure for women and to improve women’s economic empowerment.

The cooperation between Australia and UNCDF goes back almost a decade. For many years Australia has been one of the main contributors to UNCDF’s flagship Pacific Financial Inclusion Programme. In addition, it has funded country programmes in Timor Leste, Lao PDR and Cambodia, as well as regional programmes, including Mobile Money for the Poor and the Shaping Inclusive Finance Transformations in the ASEAN Region. In 2015, Australia joined UNCDF’s anchor group of core donors; in 2016, it doubled its core contribution.

"We are honoured and proud to work with Australia, a longstanding partner of UNCDF. Australia’s strong, multi-window support to UNCDF over the years has been invaluable and catalytic,” said Judith Karl, UNCDF Executive Secretary. “The contributions from Australia have enabled UNCDF to develop and invest in important ‘frontier’ areas of financial innovation and local development finance and helped UNCDF reach more women, particularly in the Pacific.

The Pacific Financial Inclusion Programme, for example, has expanded access to financial services in Fiji, Samoa and the Solomon Islands and helped make the economic empowerment of women a top policy priority. We appreciate the confidence shown by this multi-year support, which will allow UNCDF to stay at the forefront of last mile finance innovations,” she added.

As one of UNCDF’s top donor countries, Australia has become a key partner to UNCDF in the fight to eradicate poverty through “last mile” finance models that unlock public and private resources.

Australia’s vision is to be a leader in aid innovation and deliver new and cost-effective solutions to pressing development challenges. This ambition matches with UNCDF’s work in providing the catalytic tools, technical expertise and original thinking that the UN system needs to meet the 2030 Agenda.

Australia and UNCDF both recognize the importance of growing the size and inclusiveness of the private sector to drive economic growth and reduce poverty. UNCDF’s ability to use its resources to leverage private finance and infrastructure investment in developing countries is playing a critical role in achieving the Sustainable Development Goals.

For more information, please contact:

Ms. Chiara Pace
Partnerships & Communications Specialist
chiara.pace@uncdf.org