Leaders of U.K. aid network Bond are rejecting speculation that the organization faces closure if the Department for International Development does not renew its funding this month.
Signs of difficulty have been on the rise since Bond’s March financial statement warned about “volatility” in its funding streams. A key grant from DFID, that currently funds just under one-third of the organization’s budget, is set to run out this month, and it’s unclear if it will be replaced or in what amount.
While the Bond officials admitted to Devex that the organization’s funding position is not secure, they said this was the “new normal” of the U.K. charitable sector, and Bond would still exist, perhaps operating in a different form.