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Monday, January 28, 2019 - 15:23

Babyloan Mali

2030 Agenda migration-relevant and related target Labels: 
Subgoal 10.c on the reduction of remittances costs
GCM Thematic Cluster Areas: 
Contributions of migrants and diasporas
Diaspora investment and entrepreneurship, Private Sector and Public-Private Partnership, Remittances

Through the crowdfunding platform 'Babyloan Mali', established by IFAD, Malians living in Europe can invest in microentreprises or agro-business opportunities in the rural areas of Mali. Babyloan identifies good business plans for the development of microentreprises, and matches them with diaspora members and organizations in France keen to invest in their home country, through the intermediation of Malian microfinance institutions.

Private interactive web-based investment platforms such as this provide indiviudal investors with means to direct their resources towards institutional private equity funds, projects, public-private partnerships and sovereign debt programs (e.g. diaspora bonds) that were not available to individual investors. 

GFMD Source: 

GFMD 2018 - Marrakesh Summit RT 3.2 Beyond Remittances: leveraging the development impact and promoting the transnational engagement of diaspora and migrants.