UNITED NATIONS, Oct. 11 (UPI) -- The United Nations has launched a peacebuilding fund to lower the risk of renewed violence in post-conflict nations.
Countries pledged and contributed approximately $144 million -- the target is $250 million -- to the multi-year fund Wednesday in an attempt to aid countries in the aftermath of violence when other resources are not immediately available.
According to a U.N. statement, the new fund "will support programs which contribute to post-conflict stabilization and strengthen the capacity of governments in sustaining the peace process."
In effect, the fund plans to fill resource gaps during the critical period between, for instance, the signing of a peace agreement and receiving other funding.
Despite the goals of the fund, Caroline McAskie, assistant secretary-general for peacebuilding support, said it also "cannot be a panacea" for issues facing a post-conflict nation.
As part of a broader effort aimed at U.N. reform, the fund is "meant to act as a catalyst, paving the way for sustained investment in peace and recovery," U.N. Secretary-General Kofi Annan said.
The reasoning behind the project is to prevent a sudden "drop in resources" and therefore avoid a government slipping back into violence after a conflict, McAskie said.
Governments, however, are not the only eligible recipients. Non-governmental organizations, international organizations as well as U.N. bodies can receive funds, according to a U.N. document.
The fund is the brainchild of the Peacebuilding Commission, set up in December 2005 to help prevent nations from falling back into violence "once fighting stops."
Sierra Leone and Burundi are slated to be the first two cases discussed as potential recipients of the fund, according to Annan. The U.N. Development Program will manage the fund while the Peacebuilding Support Office will oversee operations.
