United Nation Special Purpose Trust Fund Current Affairs - 2020
India has contributed $1 million to United Nation Special Purpose Trust Fund (SPTF) for Resident Coordinator System showing India’s willingness and happiness to tangibly contribute to reform of UN Development system.
What is Special Purpose Trust Fund?
SPTF is a specific fund housed within United Nation Secretariat (one of 6 major organs of United Nations) established to receive, consolidate, manage and account for all contributions as well as financial transactions of new Resident Coordinator (RC) system in a transparent and effective way. UN Sustainable Development Group (UNSDG) launched an open data portal to support UN Resident Coordinators in coordinating assets at country level. Till date, 38 Member States and 19 entities have contributed to RC System SPTF, which are displayed on portal.
SPTF web portal, displays in real-time all commitments, contributions and expenditures recorded for fund. The portal aims to enhance effective coordination of UN’s work in more than 160 countries in support of SDGs and is part of wider UN reform efforts on development, management, peace and security.
Funding sources include 3 areas:
Voluntary contributions made by Member States
Doubling of cost-sharing amounts from UN entities who are members of UN’s development system
1% levy applied to contributions for UN development-related activities earmarked to a single agency, single programme/project.
What is UN Resident Coordinator system?
It encompasses all organizations of UN system that deals with operational activities for development, irrespective of their formal presence in country. RC system aims to bring together different UN agencies to improve efficiency and effectiveness of operational activities at country level.