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Studies the provision of development co‐operation of two UN funding agencies: UNFPA and UNICEF. Their development co‐operation is carried out in programmes that can be considered a form of international public service management. Describes the organizational set‐up and governance issues that form the context of programme management. Shows that both governments and civil society actors deeply influence the functioning of both funds. Compares the programme procedures, as well as the internal and external management problems, of both funds and indicates some possible remedies for these problems. Discusses the opportunities and limits of a public management approach for UN development co‐operation.