HEQEP Logo Higher Education Quality Enhancement Project (HEQEP)
A project of
University Grants Commission of Bangladesh
Ministry of Education, Bangladesh
UGC Logo  Education Ministry Logo

Academic Innovation Fund (AIF)
About AIF
How AIF Works
Objectives of AIF
AIF Coverage
Eligibility for AIF Grant
Eligible Entities for Submitting Proposals
Proposal Submitting Disciplines/Subjects
AIF Effectiveness Condition
AIF Investment Windows
Indicative Sub-projects
AIF Allocation
Indicative Eligible Expenditure
No n-Eligible Expenditure
Performance Indicators
Proposal Submission Procedure
Formats for Submission of Proposals
Institutional Arrangements for Proposal Evaluation/Selection
Proposal Selection/Evaluation Period
Duration of AIF Sub-Projects
Performance Contract
Financial Management
Monitoring and Evaluation
Environment Management Framework
Project Implementing Authorities/Committees
UGC AIF Secretariat (UGCAIFS)
Area Review Panel (ARP)
Project Steering Committee (PSC)
Project Implementation Committee (PIC)
Financial Management

It is expected that the universities, which will be awarded A IF resources, will carry out the AIF sub-projects with financial standards and practices satisfactory to the GoB and IDA. The universities will further maintain a financial system and prepare financial statements in accordance with consistently applied accounting standards, both in a manner adequate to reflect the operations, resources and expenditures related to sub-projects. Such financial statements, audited by independent auditors, in accordance with consistently applied auditing standards, will promptly be made available to the UGC and the IDA on request.

The office of the UAIFS/AIFMU shall be responsible for the financial management of the sub-projects and will disburse the received funds released by the UGC to the individual sub-project managers. The Universities will assign accounting staff with adequate skills to UAIFS/AIFMU for executing the financial management tasks. The UAIFS/AIFMU will send all information on AIF grants received and utilized by the university in prescribed reporting formats periodically to UGCAIFS. A Financial Management Questionnaire (FMQ) has been developed to assess the financial management capacities of the universities. The universities that would be assessed as having financial management capacities below a benchmark would be required to agree on a Financial Management Action Plan to address the gap.
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