Challenges in mobilizing financial resources
In this global crisis, it is important to mobilize financial resources as quickly as possible to support organizations to combat Covid-19. As a grant maker, you may wish to:
- Make an award to a grantee that you have not worked with before – but you have concerns about the time it will take to undertake your due diligence before you can disburse grants.
A “one stop shop” for any grantors’ and grantees’ due diligence requirements.”
The Global Grant Community is a financial governance platform of the African Academy of Sciences (AAS) that provides grantors and grantees with access to a paid for service for self-assessment/due diligence against the requirements of the international standard for Good Financial Grant Practice (GFGP). These services usually cost between $250 and $1000 depending on the complexity of the organization being assessed.
During these unprecedented times, and underwritten by an award from the IKEA Foundation, we, the Global Grant Community (GGC), have waived our normal charges and reduced them to a one-off fee of $100 (exclusive of the $20 bank transfer charges) regardless of the tier of the GFGP standard against which an organization is being assessed. This will support grant makers to award grants quickly so as to support communities hit hardest by the Covid-19 pandemic.
The offer also includes access to an assurance framework for areas which fall outside the scope of the GFGP standard such as safeguarding, health and safety, legal compliance and risk management.
Are you a grant maker providing funds for Covid-19 related activities?
- You can invite implementing partners to assess their financial management capabilities against the requirements of the international standard for GFGP and a Non-GFGP Assurance Framework for those aspects not included in GFGP.
- The entire pre-certification assessment can take as little as one to two weeks.
- Following submission and review, you can quickly award the funds for faster implementation of Covid-19 related activities.
- You can also search the directory in the GGC to quickly find and connect with organizations that are financially capable to safely manage your funds.
- To learn more about our Covid-19 support, please access the webinar recording here.
Phone: +254 748 431 631 or +254 709 158 138