BRAC eyes fully self-funded by 2021

Wednesday, June 6, 2012

Dhaka, June 5 (—BRAC says it is ’gradually’ lessening dependency on foreign donations in an effort to be a self-financed organisation by 2021.

“Even in 1990 we depended 100 percent on foreign donations, but in 2011 it was only 30 percent,” Executive Director Dr Mahbub Hossain said while unveiling the 2011 annual report of the largest Bangladeshi NGO.

According to the report, in 2011 BRAC earned over Tk 34.13 billion of which more than Tk 10.04 billion came from donors’ grants.

It spent more than Tk 30.81 billion in that year.

Dr Hossain credited their ’innovative’ enterprises from which he said the ’surplus’ incomes come into the subsidised development projects in health, education and different schemes for the ultra-poor.

He said they wished to run the 40-year old organisation on their own by 2021 when Bangladesh aims to achieve middle-income status.

Source: BDNews24 (link opens in a new window)