UN Agencies to Raise $7.1b in Five Years

Sep 11 , 2020

The UN's 20 agencies foresee raising 7.1 billion dollars in the coming five years to support the recently launched 10-Year Perspective Plan. The United Nations Development Programme (UNDP), World Food Programme and the World Health Organisation (WHO) are among the UN agencies that will mobilise the lion's share of the funding. The financing will be steered to four major areas: economic growth, improving human capital development, institutionalisation, and environment and sustainability, according to Ahmed Shide, minister of Finance. The Minister signed the agreement with Catherine Sozi (MD), UN resident representative and humanitarian coordinator for Ethiopia, at the end of last week. "This is initial funding," Ahmed told Fortune. "We expect additional finance over the implementation period." Produced by the National Planning & Development Commission, the new 10-year plan aspires to have GDP grow by 10.2pc annually. It is a follow-up to the second edition of the Growth & Transformation Plan (GTP II).