Sri Lanka Launches First Social Impact Funds
Two Memoranda of Understanding were signed today in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development.
The Social Enterprise Fund (SEF) will cater mostly to successfully incubated, commercially viable, micro and small social enterprises with capital requirements of less than USD 100,000. The Social Impact Capital Fund (SICF) will support inclusive and responsible businesses that integrate and promote social impact, as a part of their business models. The SICF’s investments will be larger, in excess of USD 100,000. – Read more
Blockchain Charity Foundation and UNDP announce partnership to explore blockchain for social good
Blockchain Charity Foundation (BCF) and the United Nations Development Programme (UNDP) announced their partnership to support the work of blockchain for social good, at a side event at the 73rd UN General Assembly in New York.
BCF has committed to promote the use of blockchain technology for sustainable development with the support of UNDP. BCF and UNDP have agreed to jointly explore opportunities where blockchain technology can be utilized to provide innovative solutions to development challenges, especially those in Asia and the Pacific. – Read more
Private capital must fill US$2.5 trillion gap, says UNDP region chief
Eric Ng, senior business reporter at the South China Morning Post, interviewed Haoliang Xu, UN Assistant Secretary General and UNDP Regional Director for Asia and the Pacific, to discuss the role of the private sector in achieving the Sustainable Development Goals (SDGs).
In the interview, Xu explained how UNDP has been working with financial intermediaries and private investors in places such as Bangladesh, India, Cambodia and Hong Kong to push forward efforts that channel more private money into impact investment projects. He also strongly encouraged the private sector players to set SDGs at the core of their business. – Read more
Reuters: U.N. agency seeks to marry ‘social good and profit making’
Rina Chandran, reporter of Thomson Reuters Foundation, talked to David Galipeau, Chief Impact Officer of UNSIF, to discuss how UNDP has been working with the governments, corporations and venture philanthropists to help fill the massive financing gap in achieving the SDGs.
The story highlighted the design challenge recently launched in Cambodia, together by UNSIF, UNDP Cambodia and Building Trust, a non-profit organization offering design services. The challenge is offering $40,000 for the best designed affordable housing for low-income workers at an industrial zone in Cambodia’s capital, aiming to create 3,000 units of housing in a Special Economic Zone (SEZ) on the outskirts of Phnom Penh, which is growing rapidly as people migrate from the countryside for jobs. – Read more
The Nation: UNDP to help BOI form Impact Investment Fund
ISLAMABAD – In efforts to augment the impact investment ecosystem in Pakistan and introduce Sustainable Development Goals (SDGs)-aligned financing, United Nations Development Programme in Pakistan (UNDP) will support Board of Investment (BOI) in exploring the establishment of Pakistan’s first Impact Investment Fund.
The fund will be aligned with the Government’s Vision 2025 Roadmap and is an essential step in helping Pakistan achieving its Sustainable Development Goals (SDGs). – Read more
UPCOMING: UNSIF supporting the inaugural FT Investing for Good Asia event as exclusive Development Partner
UNSIF is proud to be supporting the Financial Times in the upcoming FT Investing for Good Asia event, scheduled to take place in Hong Kong on May 10, 2018. As the Development Partner, UNDP helped shape the agenda to make the event more SDG-aligned. Haoliang Xu, UN Assistant Secretary-General and UNDP Director for Regional Bureau for Asia and the Pacific, will also be speaking at the opening panel: the SDGs and Innovative Finance in Asia.
The day-long event will bring together leading foundations, institutional investors, wealth managers, social entrepreneurs, advisors and other senior stakeholders around the region to discuss the opportunities and challenges that exist at the intersection of philanthropy and for-profit investment. It is the first time the event comes to Asia, after its successes in Europe and the United States. – Read more
DEVEX: Can a UN social impact fund spark further reform at the organization?
BANGKOK — A new fund to boost smart affordable housing options in Bangladesh is one of the first major announcements from the UNDP’s SDG Impact Finance initiative — an enterprise that took UNDP’s David Galipeau four years to convince the U.N. it needed.
On the sidelines of the 72nd United Nations General Assembly in New York, U.N. Development Programme chief Achim Steiner and Bangladesh Prime Minister H.E. Sheikh Hasina together unveiled an impact fund that aims to raise $100 million from private investors – Read more
Press Release: UNDP announces partnership with top universities to set development yardstick for impact investing
The United Nations Development Programme announced a partnership with nine leading universities to develop a research agenda that will better leverage private investment to finance the Sustainable Development Goals.
The announcement came on the sidelines of the 72nd United Nations General Assembly, at an event titled “Big Data, Impact Management & the SDGs”, which was co-hosted by the UNDP and the UN Global Pulse. — Read more
Dhaka Tribune: PM Hasina urges private sector help for SDG financing
Prime Minister Sheikh Hasina has said the private sector needs to be taken on board to help developing countries plug the gaps in funding the Sustainable Development Goals (SDGs).
Addressing a high-level discourse on the sidelines of the United Nations General Assembly (UNGA) in New York late on Wednesday, the premier said achieving the UN goals has presented a major financial challenge for governments. – Read more
Bdnews24: Bangladesh creating policy vision, facilitating private sector investment in SDGs: Sheikh Hasina
“The private sector in developing countries already account for 60% of GDP, 80% of capital flows and 90% of jobs. It bears logic that partnership with the private sector is actively factored in for financing SDGs,” she said at the meeting on SDGs.
“In Bangladesh, the private sector is coming forward as a strong and willing partner. Under our Seventh Five Year Plan, we expect the private sector to finance two-thirds of our national development efforts.” – Read more
Press Release: UNDP’s first Asia-Pacific ‘impact fund’ backs affordable housing for urban migrants in Bangladesh
The United Nations Development Programme, in partnership with Build Bangladesh, today launched a new ‘impact fund’ that aims to raise over US$100m from private investors willing to back profitable ventures that create positive social and environmental impacts in Bangladesh.
The ‘Build Bangladesh-UNDP SDGs Impact Fund’ was unveiled by Bangladesh’s Prime Minister H.E. Sheikh Hasina, the Hon. Marie-Claude Bibeau, Canada’s Minister of International Development, and UNDP Administrator Achim Steiner, at a joint event on the sidelines of the 72nd United Nations General Assembly in New York. — Read more
Press Release: European Investment Fund, UNDP accord to boost cooperation to achieve Global Goals
New York — The United Nations Development Programme (UNDP) and the European Investment Fund (EIF) today signed a Memorandum of Understanding (MoU) that will boost cooperation between the two institutions.
The MoU emphasises the role small and medium size enterprises (SMEs) will play in achieving the Sustainable Development Goals (SDGs). — Read more
UNB: UNDP’s ‘Build Bangladesh Fund’ to help achieve SDGs: PM
New York, Sept 20 (UNB) – Extending her thanks to the UNDP for launching the ‘Build Bangladesh – UNDP Impact Fund’ and creating the UNDP Social Impact Finance (UNSIF), Prime Minister Sheikh Hasina on Wednesday said this could be a critical tool for unlocking private investment to complement government and donor funding for SDGs.
“The first investment of this fund will be in Bangladesh under the banner of the “Build Bangladesh – UNDP Impact Fund”. It adds to the list of many innovative firsts that Bangladesh has offered to the world. – Read more
Xinhua Net: UNDP, listed industrial zone sign deal on enhancing economic, social impact of SEZs in Cambodia
PHNOM PENH, June 29 (Xinhua) — The United Nations Development Program (UNDP) and listed Phnom Penh SEZ (Special Economic Zone) on Thursday signed a Memorandum of Understanding (MoU) on enhancing the economic and social impact of the SEZs in Cambodia.
The deal was inked in Phnom Penh between UNDP-Cambodia Representative Claire Van de Vaeren and Phnom Penh SEZ’s chairwoman Lim Chhiv Ho. — Read more
Daily News: Egypt, UNDP to establish new investment fund for development
Egypt signed an agreement with the United National Development Programme (UNDP) to establish the first investment fund for social development projects on Wednesday, according to the Minister of Investment and International Cooperation, Sahar Nasr.
The fund will be jointly financed by Misr Company for Entrepreneurship and the UNDP, said Nasr. — Read more
Press Release: UNDP and HIFC sign MOU to promote social impact investing
New York – The United Nations Development Programme (UNDP) and the Haifu International Finance Holding Group Limited (HIFC) today signed a memorandum of understanding (MOU).
The agreement is the first under the new United Nations Social Impact Fund (UNSIF), which aims to create partnerships between participating UN agencies and impact investors to support the achievement of the Sustainable Development Goals (SDGs). — Read more