Project assistance completion report : family planning endowment project

The project was a success. It provided the local currency amount of E5,329,610 ($1.681 million) to capitalize a FLAS endowment which has created an independent income stream for FLAS operations, generating E1,423,111 between June 1993 and June 1994, for an effective interest rate of 12.24%. Of this amount, E562,690 has been reinvested as part of the endowment capital and the remainder used to recruit new nursing staff and support existing staff. The main lesson learned is that endowments are a very useful tool for enabling NGOs to focus fundraising on programmatic activities rather than regular operating costs. The project involved minimum USAID inputs and will have results that outlast the Agency's presence in Swaziland.