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FINANCE FOR DEVELOPMENT

7th December, 2015DESIGNS/IMPLEMENTATIONS OF DONORS PROJECT IN FINANCE FOR DEVELOPMENT

BYNKORO, NKORO E.12/8/2015 Dec., 2015 Nkoro Nkoro (Final Project Digital Artifact Finance for Development1

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WHO IS THE TARGET AUDIENCE FOR THIS PROJECT?The General Public, Government Officials, Policy Makers, International & National Non- Governmental Organizations (NGOs), Multinational & Local Companies, Philanthropists, Banks, Traditional Rulers etc. 12/8/2015 Dec., 2015 Nkoro Nkoro (Final Project Digital Artifact Finance for Development2

OVRVIEWFinance for Development which is a new course or program from the World Bank Group that seek to allow the individuals, groups, nations and even the world to have a better understanding and knowledge towards what is finance and how its being used in regards to development especially as focus is now on Sustainable Development Goals (SDGs) which had replace Minillium Development Goals (MDGs).The sustainable development goals (SDGs) are a new, universal set of goals, targets and indicators that UN member states will be expected to use to frame their agendas and political policies over the next 15 years.

The SDGs follow and expand on the millennium development goals (MDGs), which were agreed by governments in 2001 and are due to expire at the end of this year.Finance for Development is how money and resources are being use and utilized in managing funds used in donor projects/programmes12/8/2015 Dec., 2015 Nkoro Nkoro (Final Project Digital Artifact Finance for Development3

LESSONS LEARNT That Finance for development should be sustainable as coined from SDGs concept of Sustainable DevelopmentThat Tax being another means of finance for developmentCommercial finance as part of innovative finance the World Bank Group and ODA uses to finance development and investmentsBillions to Trillion concepts and our contribution12/8/2015 Dec., 2015 Nkoro Nkoro (Final Project Digital Artifact Finance for Development4

OBSERVATION/PROBLEMSAs a Development worker in one of the Donor Project in over 6 six years, and as part of my interactions, trainings, workshops, etc regarding donor funded projects, the designs and its implementation been a great concern to me and even to others, especially implementers of donor funded project.I have observed that the period between a project design and its actual implementation time is always a long gap that spanned from one year to almost 5 years before the project eventual start operation/implementation. This leads to some issues associated with Exchange rate differences, under/over budgeting, political environment instability/policy, economical policies of the benefitting nations, etc.

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OBSERVATION/PROBLEMS (contd)Exchange rate differences: This causes the project during implementation to have setbacks, because between the project design and its implementation, a long gap had been created causing either over loss/gain in exchange rate difference Under/over budgeting: When Project(s) are either under or over budgeted during project design, you discovered that when its actual implementations commences, there are always big gap/differences, and these affect cost and finance management, that either what was costed before could be over costed or under costed Political environment: the instability and or polictal policy of the economy can hinder the gap between project design an implementationEconomics policies of the benefitting nations, etc. can also be barriers to problem associated with the gap/difference between project design and implementation.

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PROBLEMS ENCOUNTERED IN FUNDED DONOR PROJECTS IN SOME DEVELOPING COUNTRIESBenefitting contribution by the benefitting group/individualsCounterpart fund payment/contribution by governmentInadequate envelop to entertain all request by communitiesCost provided in the project document is inadequate to finance projects/subprojectsSustainability of some activities arising out of lack of cohesion of group members/groups

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RECOMMENDATIONSI do recommend that if these few issues I have raised are met and resolve strategically and innovative/creative Monitoring and Evaluation towards donor funded projects is also used, it will help to actualize our aims towards SGDs and finance for development will become more effectively utilized and harness.

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THANKforYOUR time U Dec., 2015 Nkoro Nkoro (Final Project Digital Artifact Finance for Development12/8/20159

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