India contributes USD 1 million to UN fundPTI | United Nations | Updated: 14-08-2019 09:56 IST | Created: 14-08-2019 09:54 IST
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 percent levy applied to contributions for UN development-related activities earmarked to a single agency, single program or project.