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Centre for Coastal Management Meets on the Establishment of an Endowment Fund

The staff of the Centre for Coastal Management (CCM) on 20th May 2021, embarked on a day's workshop to discuss the setting up of an endowment fund for the Centre. The initiative has become necessary to ensure the sustainability of funding for the Centre's activities. In his welcome address, the Director of the Centre, Prof. Denis W. Aheto, noted that CCM's activities are currently being funded by Development partners, notably; the World Bank, USAID, DANIDA, to mention a few. However, an actual test of the Centre's resilience or sustainability will be when the core funding for the Centre’s activities has come to a close. The objective of the meeting was, therefore, to solicit from resource persons drawn from Development Agency, Private and Public Sectors to solicit their expert opinions on the modalities and international best practices in the setting up and operationalization of an endowment fund.

Ms. Ivy Akuoko Gyimah presented the operations of CCM and an overview of the endowment fund. She noted that CCM's research and outreach activities in Ghana's coastal zone primarily contribute to the body of knowledge in coastal zone management and builds human resources for utilization within the field.

Resource persons present at the event were Mr. George Amfo-Antiri from the Directorate of Finance, UCC, Mr. Matthew Yankey from the Agricultural Development Bank, Accra, Mr. Justice Odoi, Environmental Specialist from the World Bank, Ghana and Mr. Edmund Aaalandong from the Ghana Tertiary Education Commission. In the various presentation by the resource persons, it was noted that a smooth setting up and operation of the endowment fund hinges on clearly defined vision and objectives, sources of funding, roles of trustees, and excellent marketing and communication strategies. The Centre was advised to make room for some level of flexibility in managing stakeholder interests and expectations.

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