The Impact of Poverty Reduction Funds: Is There a Lesson to Learn from PKSF?
A ‘Fund’ is generally termed as an institutional mechanism of using financial resources for achieving a well specified set of social development objectives. There are various types of ‘Fund’ with different kinds of institutional arrangements seeking varied kinds of socio-economic development objectives. Fund may have different tenures, i.e., perpetual fund and non-perpetual fund. It could also be used to achieve, short-term, medium-term and long-term goals. However, it works well if it fits with attaining sustainable development goals. There are some examples of poverty reduction funds that have significant contributions in achieving social development objectives. For example, very recently, in July 2015, an agreement was signed to set up the World Bank Group (WBG) and China Trust Fund to help developing countries in achieving inclusive and sustainable development. The fund worth $50 million is expected. Another important fund titled Japan Poverty Reduction Fund (JPRF). It was establ...