UN Capital Development Fund Core Contribution The United Nations Capital Development Fund (UNCDF) is the United Nation's capital investment agency for the world's 48 least developed countries. It creates new opportunities for poor people and their communities by increasing access to microfinance and investment capital. UNCDF focuses on Africa and the poorest countries of Asia, with a special commitment to countries emerging from conflict or crisis. It provides seed capital - grants and loans - and technical support to help microfinance institutions reach more poor households and small businesses, and local governments finance the capital investments, such as water systems, feeder roads, schools, irrigation schemes, that will improve poor people's lives. Funding under this investment represents Australia's 2015 core contribution to the Fund valued at $0.6 million to be expensed during the 2014-15 financial year.