| Established in 1966 as a special purpose fund primarily for small-scale investment in the poorest countries, the United Nations Capital Development Fund (UNCDF) has come in recent years through intense, necessary and far-reaching changes. Today, UNCDF works to help eradicate poverty through local development programmes and microfinance operations. Through its focus on two areas of concentration, UNCDF has strengthened its identity and competence. That was the principal conclusion of the 1999 external evaluation of the Fund, subsequently endorsed by its Executive Board in September 1999. |
