Development initiatives of all kinds devote an good deal of their time and effort in trying to secure the funds they need to accomplish their objectives.
Resources for development are limited, and some areas find it harder to get funding than others.
Moreover, the flow of available resources is being hampered by vested interests and corruption, as well as by the very mechanisms that aim to control them. Ironically, many a time this can make it harder for Initiatives to access funding, and often pre-determines the use of funds they do secure. This can prevent the implementation of plurally relevant, integral and equitably appropriated interventions.
As such, Initiatives must make the most of the resources they manage to secure by:
- Planning self-sustainability from a financial perspective. This means questioning the long-term purposes of their interventions, the long-term planning of their funding and strategy, their role in the solution of their objectives, the resources they can use to address it, the best way to use them. Such questions affect the allocation, management, and long-term planning of the funds and overall design of the initiative. Thus, it is important to ensure spaces and mechanisms to address them in depth.
- Creating and capitalizing on local resources.
- Designing strategies to acquire, manage and diversify funds with the specific purpose of removing corrosive disadvantages that hinder the sustainability of the Initiative.
- Investing resources for financial sustainability, which might include:
- Allocating an ample percentage of income to fundraising work and in ways to diversify sources of financial and political support.
- Making investments in trusts with a fair value and beneficial interests.
- Accommodating all funding strategies around the objective of enriching a capital fund that reduces the initiative’s need to search for additional funds annually and allows it to keep in the stewardship of its project, without being obliged to fully adapt it to the interests of the financial supporters that it manages to secure; etc.
- Agreeing on matching funds alliances that capitalize on the potential of local resources and multiply their value.
- Prioritizing education and technical training. Investing in local capacity to collect and manage funds to build local ownership of the initiative (local capacity builder).
- Enabling transparency and visibility of the initiative, creating certainty and results-based trust and attracting further support.
- Designing preventive measures for potential scenarios that could endanger the sustainability of the initiative.
- Setting up institutional integration mechanisms that enable a more flexible distribution of the resources secured and for the benefits in one area to be shared with others that have it more difficult to ensure the support they need.
- Advancing the work, while the required funds are secured.
- Developing structures and techniques for local participation, organization and negotiation that serve to define the roles and functions needed to sustain the initiative that can be covered by local stakeholders without the need of searching for financial resources to cover them –supervisory, managerial, communicational, etc. These structures can also help to ensure that resources’ allocation are assuring plural relevance and that the most pressing needs are being covered.
Related strategies at: