Democracy Fund launched with €34m

The UN’s newly-created Democracy Fund was officially inaugurated yesterday with pledges of $41m (€34.5m) to start promoting democratic institutions and practices around the world.

US President George Bush proposed the creation of a Democracy Fund in a speech to the UN General Assembly in September 2004, saying it could help countries lay the foundations of democracy by instituting the rule of law, independent courts, a free press, political parties and trade unions.