"The Sustainable Development Goals are a bold vision of how the whole of humanity can flourish sustainably. They are a call to break with our destructive economic habits, a universal call to action, to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity"-IGP.
Meeting the Sustainable Development Goals needs the ability to leverage partnerships to harness widely available resources, i.e, how to systematically leverage all sources of partnerships; Public, Private and Philanthropy to fund your development projects and meet your development goals.
A) NGOs:
NGOs are Non-Profit Organizations that operate independent of the government to solve society's problems. Their Sole Objective is Social Good. They are sometimes referred to as Civil Society Organizations and are organised on Community, National and International Levels. They focus on Development Projects and Advocacy. However to meet their Development objectives or goals, they need Finance.
B) Sustainable Development Goals (SDGs): The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015 provide a shared blue print for peace and prosperity for people and the planet, now and for the future. At its heart are the 17 Sustainable Development Goals(SDGs), which are an urgent call for action by all countries-developed and developing-in a global partnership. They recognised that ending poverty and other deprivations must go hand-in -hand with strategies that improve health and education, reduce inequality, and spur economic growth-all while taking climate change and working to preserve our oceans and forests. link: https://sustainabledevelopment.un.org/?menu=1300
Meeting the Sustainable Development Goals needs the ability to leverage partnerships to harness widely available resources, i.e, how to systematically leverage all sources of partnerships; Public, Private and Philanthropy to fund your development projects and meet your development goals.
A) NGOs:
NGOs are Non-Profit Organizations that operate independent of the government to solve society's problems. Their Sole Objective is Social Good. They are sometimes referred to as Civil Society Organizations and are organised on Community, National and International Levels. They focus on Development Projects and Advocacy. However to meet their Development objectives or goals, they need Finance.
B) Sustainable Development Goals (SDGs): The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015 provide a shared blue print for peace and prosperity for people and the planet, now and for the future. At its heart are the 17 Sustainable Development Goals(SDGs), which are an urgent call for action by all countries-developed and developing-in a global partnership. They recognised that ending poverty and other deprivations must go hand-in -hand with strategies that improve health and education, reduce inequality, and spur economic growth-all while taking climate change and working to preserve our oceans and forests. link: https://sustainabledevelopment.un.org/?menu=1300
1. No Poverty- End Poverty in all its forms everywhere.
2.Zero Hunger- End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
3.Good Health and Well-being- Ensure Healthy lives and promote well-being for all at all ages.
4.Quality Education-Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
5.Gender Equality-Achieve gender equality and empower all women and girls.
6.Clean Water and Sanitation-Ensure availability and sustainable management of water and sanitation for all.
7.Affordable and Clean Energy-Ensure access to affordable, reliable, sustainable and modern energy for all.
8.Decent Work for all, full and productive employment, sustained, inclusive and sustainable Economic Growth.
9.Industry, Innovation and Infrastructure-Build resilient infrastructure , promote inclusive and sustainable industrialisation and foster innovation.
10.Reduced Inequality within and among countries.
11.Sustainable Cities and Communities-Make cities and human settlements inclusive, safe, resilient and sustainable.
12.Responsible Consumption and Production-Ensure sustainable consumption and production patterns.
13.Climate Action-Take urgent action to combat climate change and its impacts.
14.Life Below Water-Conserve and sustainably use the oceans, seas and marine resources for sustainable development.
15.Life on Land-Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification and halt and reverse land degradation and halt biodiversity loss.
16. Peaceful and inclusive societies for sustainable development, Justice for all and strong institutions, effective, accountable and inclusive at all levels.
17.Partnerships for the goals-Strengthen the means of implementation and revitalise the global partnership for sustainable development. (Institute For Global Prosperity)
As Non-Profit Organisations they rely on a variety of sources for funding, these include the following:
C) Sources of Finance:
As Non-Profit Organisations they rely on a variety of sources for funding, these include the following:
C) Sources of Finance:
Domestic Funding:
i)Public Finance entails the role of government in funding development projects including NGOs. This includes government grants and contracts, grants from local, state and federal agencies and other government funding. According to Investopedia; despite their independence from government, many NGOs rely heavily on government funding to function. According to funds for NGOs ; in some countries the local governments are also a major source of fundings as they have different community welfare and development schemes which NGOs can apply and raise resources and implement projects.
ii)Private Finance can be classified into two categories - the personal finance and business finance. Personal finance includes personal money, savings accounts, family, insurance policies, consumer loans, loans from bank or financial institutions, stock market investments, retirement funds and credit cards. Business finance includes bank loans, loans from friends and relatives, investment firms, venture capitalists, hedge funds and wealthy individuals.
External Funding include International funding agencies, Philanthropy and International Corporate groups that have Corporate Social Responsibility Agenda for enhancing equity and social justice and development, Joint projects financing, partnerships, etc.
Additional Sources of Finance:
Membership dues, private donations, the sale of goods and services, grants from other non-profits and charities and philanthropic foundations, private sector for-profit companies, fees for goods and services, interest from investments, loans/program related investment, tax revenues, etc. "The non-conventional resources include; the micro-enterprises, micro-finance and micro-insurance"-fundsforngos.
Applying a Maximizing Finance for Development approach to Financing Development Projects:
The focus should be on approaches that provides the right mix of Financing; Public, Private and Philanthropy, that is, Public and Private funding with the right safeguards to meet Development Goals (aligning Government, Business and Civil Society). According to the World Bank Group; "meeting the SDGs demands mean that we find solutions to crowd in all possible sources of finance, innovation and expertise". Maximizing Finance for Development will enable NGOs/organisations to systematically leverage all sources of partnerships, Public, Private and Philanthropy to fund Development Projects and meet the Sustainable Development Goals or Project Objectives.
Uche Okeke is the Founder of The LEAD Project Foundation.
Applying a Maximizing Finance for Development approach to Financing Development Projects:
The focus should be on approaches that provides the right mix of Financing; Public, Private and Philanthropy, that is, Public and Private funding with the right safeguards to meet Development Goals (aligning Government, Business and Civil Society). According to the World Bank Group; "meeting the SDGs demands mean that we find solutions to crowd in all possible sources of finance, innovation and expertise". Maximizing Finance for Development will enable NGOs/organisations to systematically leverage all sources of partnerships, Public, Private and Philanthropy to fund Development Projects and meet the Sustainable Development Goals or Project Objectives.
Uche Okeke is the Founder of The LEAD Project Foundation.
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