Indian American Preeti Sinha appointed UNCDF executive secretary

United Nations: The UN Capital Development Fund (UNCDF) has announced Preeti Sinha as its Executive Secretary, who said focus will be on providing microfinance 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-headquartered organization provides microfinance access to least developed countries (LDCs), with the mandate to unlock the full potential of public and private finance.

She will “oversee the organization’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 mobilizing 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.

Sinha will lead UNCDF’s work to harness the untapped growth potential of the LDCs, to enable and empower communities, local governments and small businesses to address the economic impacts of the COVID-19 pandemic while building more resilient and inclusive economies, the agency said.

As Executive Secretary, Sinha will “oversee UNCDF’s ‘last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.”

Sinha has three decades of global experience across investment and development finance during which she managed institutional public and private development capital.

 

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