Preserving independence and transparency
Our Funding Policy aims to ensure that MDIF preserves its independence and maintains control over its priorities, programmes and investments without undue interference from funders. It also provides transparency so our partners, beneficiaries and the general public can see who our funding sources are.
MDIF’s Board of Directors has a broad discretion to determine which funding to accept and which to reject. In arriving at its decision, the Board takes into account the following general considerations for all types of funders:
- that the funding does not result in undue influence over our activities, i.e., the funder agrees to respect MDIF’s principles, policies, projects, strategic choices and expertise;
- in evaluating whether the funding would be in the best interests of MDIF, the Board considers, among other things: the nature of the funder’s business and activities; whether the funder has received unfavorable media attention; and the consequences any affiliation with the funder might have on MDIF’s reputation, activities and beneficiaries; and
- if funding is accepted, MDIF will ensure that it complies with US anti-money laundering laws, including the Patriot Act and all OFAC regulations and lists.
Extra considerations for government funding
As funding from governments may be highly sensitive, the Board takes into account further considerations to protect MDIF’s independence. MDIF accepts funding from government funders only when:
- We have ascertained that the funder is a democratically elected government in a country with the rule of law and a free press. In applying this standard, we will base our decisions on internationally recognised raters of these characteristics, such as the World Bank, Reporters Sans Frontières and Freedom House; and
- We have ascertained that the funding does not give a government funder any means, direct or indirect, of influencing MDIF decision-making on recipients of assistance or financing, or influencing recipients in any way.
To further safeguard its autonomy, MDIF strives to have diversified sources of government funding.
Anonymous and crowdfunded funding
MDIF does not accept anonymous funding or funding where we cannot reasonably ascertain the identity of the funder. In the case of crowdfunding, in addition to the conditions above, we will consider whether the reputation of the crowdfunding platform used is acceptable.