If funding declines persist and viable alternatives are not found, this could have broader repercussions, hindering progress toward achieving sustainable development goals (SDGs) and potentially harming the general population. Ensuring funding for sustained development operations implemented by NGOs is paramount for continued progress toward national and international development goals.
To tackle these challenges, it is essential to prioritize building relationships with donors to ensure long-term funding sustainability. It can be achieved by fostering a sense of community and belonging among donors, emphasizing personalized stewardship, and treating donors as valued partners. This approach may enhance donor retention and loyalty, cultivating enduring relationships that sustain ongoing support. Additionally, diversifying funding sources is crucial to reduce dependency on a few donors. Engaging with new bilateral and multilateral donor entities is also pivotal in this situation to secure funding through government channels or similar systems. Strengthening organizational capabilities aligned with donor priorities and partnering with local NGOs in Bangladesh will also offer pathways to increased funding. Taking these factors into account, Ipas Bangladesh is developing its fundraising strategy. We aim to diversify and sustain our funding stream by consistently engaging with both current and prospective donors, including bilateral, multilateral, and private foundations. This strategy is being crafted with this specific goal in focus.
-Written by Jafor Ahmed