This project output deals with establishment of project co-ordination unit and its recurring requirements. In addition it provides mechanism to facilitate sustenance of the project even after the completion of the project period through long –term funding mechanism
LTFM-Long Term Funding Mechanism
- The establishment of Long Term Funding Mechanism (LTFM) would be done in three steps with mile stones that should be achieved prior to proceeding to the next step.
- The Project will provide technical expertise to conceptualizing and conduct a feasibility study. The study will recommend appropriate balance of stake holders on the Long Term Funding Mechanism (LTFM) Board.
- The contribution of the State Government to Long Term Funding Mechanism (LTFM) will be subject to findings of the feasibility study. Establishment of a self-supporting Long Term Funding Mechanism (LTFM) to provide stable and predictable funding for recurring costs of ongoing project inspired activities. Although an indicative cost of US $285,000 per year was envisioned in the year 1998 (as per the project document), the agency/institution is expected to re-assess and provide detailed analysis of the annual expenses for at least five years.
- The design and establishment of Long Term Funding Mechanism (LTFM) will include criteria for appointing Trustees, Grant eligibility, disbursement procedures, reporting mechanisms and asset management arrangements. Co-financing of the Mechanism would proceed on 1:4 basis and fund raising initiatives.