In October 2011, the UN Capital Development Fund (UNCDF) Evaluation Unit commissioned an independent review of the global portfolio of the UNCDF Financial Inclusion Practice Area (FIPA). The overall objective of the portfolio review (PR) was to assess whether UNCDF’s inclusive finance activities were effectively geared towards achieving the overarching objective of contributing to the attainment of the Millennium Development Goals (MDGs).

The PR aimed to provide UNCDF with a comprehensive assessment of the results of its approach to developing inclusive sectors in the Least Developed Countries (LDCs), both in terms of the performance and effectiveness of the portfolio of Financial Service Providers (FSPs) funded as well as its impact on the broader policy and institutional environment (meso- and macro-levels) supported through its financial sector development programmes at country-level and through its global thematic initiatives. This report presents the synthesized findings and recommendations of the PR review.

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