Opinion | Reimagining development funding
Summary
Nepal's development financing is shifting from donor dependency to self-sustaining models through strategic partnerships, increased domestic funding, and stronger governance of NGOs and CSR initiatives.
Key Points
- Nepal’s reliance on external donor funding is declining, urging a transition to self-sustaining development financing models.
- There is significant underutilisation of Nepal's public development budget, which can be redirected via strategic partnerships with nonprofits.
- Corporate Social Responsibility (CSR) funds in Nepal are underutilized and need stronger governance and alignment with sustainable development goals.
- Engaging the diaspora through crowdfunding and investment mechanisms is a promising avenue to support Nepal’s development sector sustainably.
