Summary of UNDP Administrator at EB 1st Regular Session 2024 on UNCDF's role in the in the UN Development System.

Let me also make reference to UNCDF. The UN Capital Development Fund is an integral part of the UN Development System's offer to developing countries. And we have been entrusted with hosting UNCDF, and I actually believe that this is a facility, a platform within our UN Development System that has only just begun to knock on the doors of the future.

It is a perfect complement, particularly for LDCs, to break through a glass ceiling that exists in financial markets and in financial engineering. And, certainly, our commitment is to continue to strengthen UNCDF's capabilities, because it can do things that UNDP cannot.

And yet, if we work seamlessly, including with other agencies in the UN system, then UNCDF could become actually a key player in enabling UN entities across the development system, but particularly programme countries to leverage the UN to open yet another channel where they are not borrowers, but we become co-investors in expanding financing for development.