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SPECIAL PURPOSE TRUST FUND

Topic covered:

Important International institutions, agencies and fora, their structure, mandate.

 

SPECIAL PURPOSE TRUST FUND

 

What to study?

For prelims and mains: SPTF- objectives, funding, need for and significance.

 

Context: India has contributed $1 million to the UN Special Purpose Trust Fund for the Resident Coordinator System

 

About SPTF:

The Special Purpose Trust Fund (SPTF) is a specific fund housed within the UN Secretariat.

It has been established to receive, consolidate, manage and account for all contributions and financial transactions of the new Resident Coordinator (RC) system, in a transparent and effective way.

 

Funding sources include three streams:

  1. Voluntary contributions from Member States.
  2. The doubling of cost-sharing amounts from UN entities who are members of the United Nations development system.
  3. A 1% levy applied to contributions for UN development-related activities earmarked to a single agency, single programme or project.

 

THE UN RESIDENT COORDINATOR:

The UN Resident Coordinator (RC) system encompasses all organizations of the United Nations system dealing with operational activities for development, regardless of their formal presence in the country.

The RC system aims to bring together the different UN agencies to improve the efficiency and effectiveness of operational activities at the country level.

Role: Resident Coordinators lead UN country teams in 129 countries and are the designated representatives of the Secretary-General for development operations.

 

Sources: the Hindu.