CODEC

CODEC as Social Entrepreneurship

CODEC is committed to harnessing the potential of social entrepreneurship to optimize its financial and physical resources, progressively bolstering its support for social sector initiatives. Operating within a microfinance-plus framework, CODEC recognizes the imperative of sustaining social programs alongside its core activities. While certain programs benefit from external donor support, others lack full funding and necessitate CODEC’s autonomous financial backing. The organization currently generates revenue through its training centers and dairy farm operations, complemented by its ownership of land assets in various regions. However, with dwindling donor contributions falling short of covering administrative costs, CODEC is driven to explore avenues for self-sufficiency in funding its social initiatives. Looking ahead, CODEC is poised to venture into new domains such as eco-tourism and dairy-based businesses, requiring specialized expertise in business planning and technical proficiency. Legally, CODEC operates under the Voluntary Social Welfare Ordinance 1961 and is registered under the Foreign Donations (Voluntary Activities) Regulation Act 2006, enabling it to receive and utilize foreign donations for project implementation. The MRA Law 2006 further allows CODEC to invest reserve funds in poverty alleviation measures and approved investments. To realize its objectives, CODEC has devised a strategic roadmap encompassing the expansion of its training center in Kuakata, the development and expansion of its dairy project, enhancement of its eco-friendly construction materials enterprise, and the continuous exploration of new social enterprise opportunities within project areas. Through these concerted efforts, CODEC seeks not only to sustain its social programs but also to foster economic empowerment and sustainable development within the communities it serves.

Let us go forward in this battle fortified by conviction that those who labour in the service of a great and good cause will never fail.