Participatory funding, also known as participatory grant-making, is a collaborative approach that actively involves individuals or communities in the decision-making process of distributing funds.
Unlike traditional top-down funding models, participatory funding recognises the importance of including diverse perspectives and voices in determining how financial resources are allocated.
It empowers beneficiaries or stakeholders to have a direct say in setting funding priorities, evaluating proposals, and making funding decisions.
This inclusive process not only promotes transparency and accountability but also ensures that funding aligns with the needs and aspirations of the community. By engaging those directly impacted by the funding, participatory funding fosters a sense of ownership, promotes equity, and maximises the positive impact of financial resources.