UNCTAD Faces Challenges Amid Global Funding Decline

The United Nations Conference on Trade and Development (UNCTAD) is bracing for substantial budget reductions owing to a dip in global donor contributions. This financial strain is part of broader reforms instigated by dwindling funds from major donors, including the United States, which traditionally supplies nearly a quarter of the U.N.'s financial support.

Rebeca Grynspan, the Secretary-General of UNCTAD, revealed plans to ax 70 positions in its 2026 budget, reducing the agency's manpower significantly. "This is painful. There's no way to disguise this," Grynspan remarked, expressing concern that these cuts will curtail the organization's ability to meet the growing demand for its economic analysis and advice.

Amid these financial challenges, the U.N. is restructuring its resources to enhance efficiency through a task force, including Grynspan, aiming to streamline operations across its many agencies. Crucially, the U.N. Secretariat is also preparing substantial budget cuts, which could profoundly impact its operations worldwide.

(With inputs from agencies.)