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Strengthening Institutions: India Contributes $1 Million To United Nation’s Special Purpose Trust Fund
Swarajya Staff
Aug 17, 2019, 05:08 PM | Updated 05:08 PM IST
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In its contribution towards strengthening international institutions, India has contributed $ 1 million towards the United Nations’ (UN) Special Purpose Trust Fund (SPTF), AIR has reported.
The SPTF is a specific fund housed within the UN Secretariat, established to receive, consolidate, manage all contributions and financial transactions of the UN’s new Resident Coordinator (RC) system in a transparent and effective way.
The RC system brings together different developmental agencies of the UN to increase operational effectiveness and streamline developmental efforts at a country level. The Resident Co-ordinators serve as the representatives of the UN Secretary General for developmental efforts.
India Permanent Representative to the UN, Syed Akbaruddin also tweeted about the development.
Tangible contribution.
— Syed Akbaruddin (@AkbaruddinIndia) August 14, 2019
India is happy to tangibly contribute to reform of the @UN Development system. pic.twitter.com/fFQaA3zAE5
Funding sources for the SPTF include voluntary contributions from the Member States, the doubling of cost-sharing amounts from the UN entities who are members of the United Nations development system and a one per cent levy applied to contributions for UN development related activities earmarked to a single agency, single programme or project.
SPTF web portal, displays in real time all commitments, contributions and expenditures recorded for the fund.
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