t &.11& Uitt 22 4411t&i.4lkUiJ '"ED£41I:J,....IIIW!l:z:ttiliiWi& • lI1!11masesJ UPnl' I'I1lijNote15.unitedNations Capital Development Fund (a)project expenditure of$28,806,478, showninstatement VII,iscomposed f$9,688,555, representing disbursements made,orduetobemade,toGovernments ofleastdeveloped countries undergrantagl:eements withUNCDFforthe implemelJt:ation services andexecution ofprojects bythoseGovernments, and $19,117,923, representing costsincurred byco-operating organizations incarrying out,withtheagreement oftheGovernments concerned, international procurement services forequipment orsupplies provided forinthegrantagreements. The lattercostsinclude support costspaidunderthetermsofgrantagreements with recipient Governments totheUNDPOfficeforProjects Execution, intheamountof $494,844, whichisincluded inthetotalamountof$7,918,238, asreflected in schedule 7. (b)Atitstwenty-sixth session, theGoverning Council decided thatUNCDF shouldestablish andmaintain anoperational reserv~ ofatleast20percentofthe Fund'sproject commitments. Accordingly, thefullyfundedOperational Reserve established in1979wasadjusted at31December 1984to$24.1million. which includes $256,607 representing 20percentofthetotalcontingent liabilities as atthatdateforguarantees entered intobyUNCDFinrespect ofbankloansgranted byGovernments andexcludes commitments related totrustfundsandcost-sharing arrangements, whichbytheirnaturerequirefullfunding. (c)Atitstwenty-sixth session, theGoverning Council approved, foran experimental periodnottocontinue beyondtheregular session oftheCouncil in 1981,achangetopartial funding notrequiring additional resources. Atits twenty-ninth session, theGoverning Council decided thattheFundshouldcontinue thepartial funding system. Inconformity withthisdecision, actualproject' allocations weremadein1984amounting to$20.9million, excluding sub-trust funds butincluding cost-sharing arrangements, and,asshowninthefootnote to statement VII,unspent allocations were$32.3million inexcessofresources asat 31December 1984. (d)Theamountof$239,250 shownonstatement VIIas"Extrabudgetary account forsuppert costs"represents theunspent balance asat31December 1984ofamounts charged toUNCDFprojects foritsindirect costs. Note16.UnitedNations TrustFundforSudano-Sahelian Activities (a)Theamountof$662,383, shownonstatement IXas"Reimbursement of programme support coststoexecuting agencies", includes $474,831 paidtotheUNDP Officeforprojects Execution, whichisincluded inthetotalamountof$7,918,238, asreflected inschedule 7.• (b)Theamountof$400,284, shownonstatement IXas"DuefromUNEPfor UNDP!UNEP joint-venture projects", represents thenetbalance dueasat 31December 1984forcontributions payable totheUnitedNations Sudano-Sahelian OfficebyUNEPforprogramme support inrespect oftheplanofActiontoCombat Desertification intheSudano-Sahelian region. Thestatusofcontributions received andexpenditure incurred asat31December 1984wasasfollows: • -110- r.!Note15.unitedNations Capital Development Fund (a)project expenditure of$28,806,478, showninstatement VII,iscomposed f$9,688,555, representing disbursements made,orduetobemade,toGovernments ofleastdeveloped countries undergrantagl:eements withUNCDFforthe implemelJt:ation services andexecution ofprojects bythoseGovernments, and $19,117,923, representing costsincurred byco-operating organizations incarrying out,withtheagreement oftheGovernments concerned, international procurement services forequipment orsupplies provided forinthegrantagreements. The lattercostsinclude support costspaidunderthetermsofgrantagreements with recipient Governments totheUNDPOfficeforProjects Execution, intheamountof $494,844, whichisincluded inthetotalamountof$7,918,238, asreflected in schedule 7. (b)Atitstwenty-sixth session, theGoverning Council decided thatUNCDF shouldestablish andmaintain anoperational reserv~ ofatleast20percentofthe Fund'sproject commitments. Accordingly, thefullyfundedOperational Reserve established in1979wasadjusted at31December 1984to$24.1million. which includes $256,607 representing 20percentofthetotalcontingent liabilities as atthatdateforguarantees entered intobyUNCDFinrespect ofbankloansgranted
**Analysis**
The text appears to be related to the United Nations Capital Development Fund (UNCDF) and its activities in supporting least developed countries. The text mentions project expenditure, disbursements, and costs incurred for the implementation of projects, which suggests a focus on economic development and poverty reduction. The mention of international procurement services and equipment or supplies provided for grant agreements also suggests a connection to industry and trade.

**Category**
Economic development, International trade