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Theory of change (SF 2018-21)

This document outlines the theory of change underlying the results chain of the Strategic Framework, 2018-2021. The full results chain has three tiers – impact, outcomes and outputs – supported by the financing model and institutional enablers. It articulates UNCDF’s priorities in targeting poor and vulnerable populations to reach the last mile, and presents a gender-responsive theory of change (Annex 3 to the Strategic Framework), which explains how UNCDF’s work specifically addresses gender equality and women’s economic empowerment.

The UN Capital Development Fund makes public and private finance work for the poor in the world’s 47 least developed countries (LDCs). With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.