India has contributed USD one million to the UN Special Purpose Trust Fund for the Resident Coordinator System. The Special Purpose Trust Fund (SPTF) is a specific fund housed within the UN Secretariat established to receive, consolidate, manage and account for all contributions and financial transactions of the new Resident Coordinator system in a transparent and effective way, according to the UN information.
"Tangible contribution. India is happy to tangibly contribute to reform of the @UN Development system," India's Permanent Representative to the UN Ambassador Syed Akbaruddin tweeted Tuesday. The SPTF web portal, displays in real time all commitments, contributions and expenditures recorded for the fund.
Funding sources include voluntary contributions from the Member States, the doubling of cost-sharing amounts from the UN entities who are members of the United Nations development system and a one per cent levy applied to contributions for UN development-related activities earmarked to a single agency, single programme or project.
By Yoshita Singh/PTI