FINANCIAL MECANISM
The major challenge facing the West and Central African sub-region is how to harmonise and coordinate the financing of agricultural research and development for the next five years. The operational plan approved by the General Assembly of CORAF/WECARD is the main thrust of the initiative of the stakeholders in the sub-region to invest in high value adding priorities in order to compete favourably and improve food security.
The financial plan of the Operational Plan has been elaborated on the basis of the following principles:
- The annual or yearly principle: The budgetary year coincides with the calendar year;
- The Unit Principle : This principle expresses the idea according to which the total funds for regional agricultural research and development is presented in this financial plan;
- The universality principle: This principle expresses the idea according to which, at least a part of resources mobilised for the financing of this plan must serve to finance all programmes;
- The speciality principle: The budget was elaborated according to the expenditure patterns and the cost centre;
- The pragmatic principle: The preparation of the financial plan was conditioned or dictated by the pragmatic approach in cost allocations, projects, and programmes size. The objective of this principle is to present a feasible financial plan. This feasibility is explained by the capacity of the sub-region to mobilise indigenous and external resources for the financing of these programmes.
- The principle of subsidiarity: This principle is the basis for effective networking of stakeholders and partners. It aims at basing implementation and coordination of projects in the NARS by emphasizing on the comparative advantage of each actor of the national system. It also aims to leave to partners institutions such as CGIAR projects for which they have acknowledged outstanding competencies.
The construction of the financial plan is explained by the following costs centres
Research Programme – These costs cover the totality of direct expenses for the eight programmes elaborated in the operational plan.
Governance and Management – This cost centre registers the total necessary expenses for the good functioning of governance and the Executive Secretariat