The service contributes to enhancing the capacities of the national Moldovan money transfer services providers in order to diversify the existent transfer channels and ensure their transparency and costs reduction, through establishing an efficient and sustainable international money transfers system between Italy, Spain, Portugal and the Republic of Moldova.
The Economic and Financial Learning Program is a pioneer multi-partner initiative for Filipino migrant workers and remittance-receiving family members. It is among the Bangko Sentral ng Pilipinas (BSP)’s efforts to promote financial inclusion by educating the public in basic financial matters. The program aims at helping Filipinos understand important economic and financial issues in order for them to develop the “skills needed to make well-informed” decisions and choices.
Global Forum on Remittances and Development (GFRD) 2015
The Swedish government finances a national price comparison on line service “Money from Sweden” (www.moneyfromsweden.se) with a view to increase transparency and lower the transfer costs for remittances sent from Sweden. The online service is totally independent of all market players and is run by the Swedish Consumer Agency. Money from Sweden is certified by the World Bank to meet the mandatory requirements of a national price database for remittance services.
The Bangko Sentral in Philippines (formerly know as Central Bank of the Philippines) created an interactive portal that will link users to information on the different banks on non-bank remittance companies in the Philippines, including locations of their branches abroad, remittance center, foreign banks/correspondents, products and services, and charges fees for remittance services to any part of the Philippines. The establishment of the OFW Portal is part of its efforts to improve the environment for OFW remittance flows, and to assist overseas Filipinos on their remittances concerns.
The DEED project aims to increase opportunities for Kosovars living abroad to participate in the economic development of Kosovo by facilitating job and enterprise creation through investment and channelling of remittances away from pure consumption, in particular by: i) increasing literacy for financial services of remittance-receiving households and increase access to finance in a gender-sensitive manner; ii) identifying and introducing models and mechanisms that facilitate migrants’ investments and savings in Kosovo; iii) offering technical support for Kosovo authorities in order to draft
IFAD’s Financing Facility for Remittances (FFR) is one of the few entities dealing directly with migrant and remittance-specific issues since its start-up in 2006. The FFR is a US$38 million multi-donor fund which promotes economic opportunities for the rural poor through the support and development of innovative, cost-effective, and easily accessible international and/or domestic remittance services. The core purpose of the FFR is to maximize the impact of remittances on development.
The general objective is to support local development projects and productive investments (collective and individual) of the Malian diaspora in Mali with i) a dedicated support mechanism for entrepreneurs in France and country of origin ii) activities with public institutions and private sector institutions to improve the investment climate in countries of origin
Activities:
TawiPay (www.tawipay.com) is a pilot project that started in 2015. Its main goal is to increase transparency in the remittance channels. SECO is currently financing the establishment of the two channels Switzerland – Serbia and Switzerland – Bosnia. The project’s objective is to enable migrants/diaspora communities to reduce the cost of sending money to their home countries.
Link Up! Financing diaspora entrepreneurship - Feasibility study
The feasibility study serves as a basis for the development of a comprehensive programme to support diaspora entrepreneurs through networking opportunities, capacity building and seed capital. The study analyses the existing challenges in Austria to support diaspora entrepreneurs, identifies the needs of diaspora entrepreneurs so that they are better able to contribute to their country of origin and assesses the gaps that could be addressed for the benefit of diaspora entrepreneurship.