Step 5.2 Elaborate the funding/financing strategy
A financing strategy and plan is essential to ensuring the delivery of outcomes and outputs set out in the NSDS strategic framework (Step 4.3) and the NSDS implementation plan .
The financing strategy establishes the essential steps of how NSS can achieve targets to support the financing plan or budget which corresponds to the costing of the action plans (Step 5.1). It includes identifying sources of funds and mobilizing resources to implement the new NSDS.
The NSS should strive to look for and utilize government resources for stronger ownership in achieving NSDS strategic goals (Step 4.2) while optimizing development cooperation assistance (for capacity development and innovation).
All relevant NSS stakeholders should prepare sector statistics financing plans based on the costing of all planned statistical programs, projects and activities as well as identify implementing and development partners, if any, and the sources of funds.
- Based on the NSDS framework and budget, conduct consultations with all NSS stakeholders and development partners, preferably including the ministry/department of finance/budget and planning to identify potential funding.”
- Come up with a financing strategy based on the proposed NSDS financing plan and budget and in consultation with all NSS stakeholders and development partners, preferably including the ministry/department of finance/budget and planning.