Development is a change paradigm and the means for improving life chances for people who are under resourced and under reached. Finance alone is not a change agent but a resource which can help enable but not meet human needs fully.
The focus of all intervention is enabling others. It is this approach that generates self help groups to support each other, improvise strategies and come up with innovative and often path breaking change models that help lift large portions of society out of the vicious cycle of despondency and lack of growth that they have been caught in.
The focus of all intervention is enabling others. It is this approach that generates self help groups to support each other, improvise strategies and come up with innovative and often path breaking change models that help lift large portions of society out of the vicious cycle of despondency and lack of growth that they have been caught in.
Raising finance is a primary problem for community based self help groups but more importantly it is the alignment of local goals with the larger Sustainable Development Goals (SDGs) that must be the focus of the future.
Interventions are developed, planned and implemented at the local level by community organisations based on felt needs which often means targeted but highly restrictive actionable outcomes. There is often a lack of real capacity to assess needs and plan intervention and more of an immediate need gratification approach in most of these interventions.
Some of these groups however progress through the process of collaboration, resource mobilisation and implosion to develop their own successful strategies to affect positive change which can be more far reaching than strategies imposed by outsiders. It is this part of the problem / solution focus that has to be addressed through a change in the funding approach.
There is a need for local and grass root level work to start and continue. It is however important to be able to try and link these with SDGs through direct field level interaction with new and existing organisations to help them align themselves to the same SDGs.
The ability to raise finance whether from the community itself, through external funding including the private sector or governmental sector, individual grants, crowdfunding or any other means that may develop with time are all available and to an extent deliverable methods of fundraising in the current scenario.
As countries develop the funding will have to be internalised and strategies and structures will enter the vacuum left when change brings about modification of cash flow in these systems. The future of funding and finance in the developing economies will need to be modern methods including to a larger extent a mix of private funding and crowdfunding enabling Public Private Partnership (PPP) style intervention support and also bond type offerings as solutions to the financing issue.
The new shift could very well be the amalgamation of these two types into a new form of Social Private Partnership (SPP) where governments may no longer be participants in the process and social initiatives can obtain funding through unique routes of finance and deliver outcomes or returns to investors. Where such a comprehensive and robust system can be developed and delivered finance will become an enabler and facilitator for these projects both at the National and International level.
These or other systems will come into play over the next few years and will help achieve SDGs in the future.
Interventions are developed, planned and implemented at the local level by community organisations based on felt needs which often means targeted but highly restrictive actionable outcomes. There is often a lack of real capacity to assess needs and plan intervention and more of an immediate need gratification approach in most of these interventions.
Some of these groups however progress through the process of collaboration, resource mobilisation and implosion to develop their own successful strategies to affect positive change which can be more far reaching than strategies imposed by outsiders. It is this part of the problem / solution focus that has to be addressed through a change in the funding approach.
There is a need for local and grass root level work to start and continue. It is however important to be able to try and link these with SDGs through direct field level interaction with new and existing organisations to help them align themselves to the same SDGs.
The ability to raise finance whether from the community itself, through external funding including the private sector or governmental sector, individual grants, crowdfunding or any other means that may develop with time are all available and to an extent deliverable methods of fundraising in the current scenario.
As countries develop the funding will have to be internalised and strategies and structures will enter the vacuum left when change brings about modification of cash flow in these systems. The future of funding and finance in the developing economies will need to be modern methods including to a larger extent a mix of private funding and crowdfunding enabling Public Private Partnership (PPP) style intervention support and also bond type offerings as solutions to the financing issue.
The new shift could very well be the amalgamation of these two types into a new form of Social Private Partnership (SPP) where governments may no longer be participants in the process and social initiatives can obtain funding through unique routes of finance and deliver outcomes or returns to investors. Where such a comprehensive and robust system can be developed and delivered finance will become an enabler and facilitator for these projects both at the National and International level.
These or other systems will come into play over the next few years and will help achieve SDGs in the future.