Indian-origin Preeti Sinha to lead UN Capital Development Fund

The UN Capital Development Fund has appointed Indianorigin investment and development banker Preeti Sinha as its Executive Secretary whose focus will be on providing microfinance assistance to women youth small and mediumsized enterprises in underserved communitiesSinha commenced her tenure as UNCDF Executive Secretary the highest leadership rank in the institution on Monday Established in 1966 the New Yorkheadquarted organisation provides microfinance access to Least Developed Countries LDCs with the mandate to unlock the full potential of public and private financeShe will oversee the organisations efforts to deliver scalable impact in order to make the international financial architecture work for the worlds frontier and prefrontier markets with a specific emphasis on supporting sustainable development for women youth small and mediumsized enterprises smallholder farmers and other traditionally underserved communitiesIn a statement Sinha said her goal would be to make C in UNCDF capital to be highly catalytic in mobilising 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 30year career in the United Nations the agency said Welcoming Sinha UNDP Administrator Achim Steiner said UNCDFs support for the worlds Least Developed Countries is critical and I look forward to continuing the strong partnership between our organisations into the futureSinha will lead UNCDFs 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 COVID19 pandemic while building more resilient and inclusive economies the agency saidAs Executive Secretary Sinha will oversee UNCDFs last mile finance models that unlock public and private resources especially at the domestic level to reduce poverty and support local economic development She has three decades of global experience across investment and development finance during which she managed institutional public and private development capitalThe UNCDF statement said Sinha served as CEO and President of FFD Financing for Development LLC a specialist development finance firm in Geneva focusing on resource mobilisation donor relations innovative capital markets partnerships strategy business development and impact investment advisory to finance the UN Sustainable Development Goals SDGsPreviously she managed the YES Global Institute a practising private sector thinktank for socioeconomic development in New Delhi building the impact investment ecosystem in India the agency said adding that she also served in senior resource mobilisation roles at the African Development Bank Sinha graduated from the Harvard Kennedy School of Government Executive Education program in Public Financial ManagementShe holds a Masters in Global Leadership from the World Economic Forum and a Masters in Public and Private Management MPPMMBA from the Yale School of Management She is an alumnus of Dartmouth College where she completed her Bachelor of Arts in Economics and Computer Science UNCDF makes public and private finance work for the worlds 46 least developed countries LDCs to harness their untapped growth potential Its programmes help to empower women and are designed to catalyse larger capital flows from the private sector national Governments and development partners for maximum impact towards the internationally agreed developments goalsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever