This final report was submitted by Universalia on the Multi-cycle Evaluation of the Unified Special Development Fund [SDF(U)] 4 and 5 covering the period 1996-2004. It's main objectives were to determine whether the CDB has met the agreed obligations and commitments made during the replenishment and resolutions, identify the factors that have contributed to the advancement in the achievement of the core objectives of these two cycles and those constraining the achievement of results, identify SDF 4 and 5 contributions to development outcomes, and make recommendations which are forward looking and within the context of improving the framework of future SDF replenishments.