Streamlining Diaspora Engagement to Catalyze Private Investments and Entrepreneurship for Enhanced Resilience (SDE4R) project

Streamlining Diaspora Engagement to Catalyze Private Investments and Entrepreneurship for Enhanced Resilience (SDE4R) project
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Summary:

The International Organization for Migration (IOM), the African Development Bank (AfDB) and the African Union Commission (AUC have signed an agreement for $3.9 million in grant financing to strengthen investment, human capital and philanthropic engagement from the diaspora in eight African countries.  

This Tripartite Funding and Implementation Agreement signed in Addis Ababa, the Ethiopian capital, will support the "SDE4R" project, which is a technical assistance aiming to strengthen private sector development, economic growth as well as social and climate resilience in 8 African transition states through more pro-active diaspora engagement, namely in the Gambia, Liberia, Madagascar, Mali, Somalia, South Sudan, Togo, and Zimbabwe.

More specifically, this intervention will help: 

(i) boost domestic economic growth through enhancement of business development, diaspora-oriented financing opportunities and tools, and entrepreneurship in countries of origin; 

(ii) reinforce socioeconomic resilience of vulnerable populations in home countries through diaspora-related humanitarian, educational, health and other resilience building support and temporary return of skilled and qualified diaspora members; 

(iii) build capacity of domestic stakeholders of diaspora-related matters and improve domestic business environments as well as collaboration between domestic institutions and dedicated entities, regional specialized institutions (such as IOM) and Diaspora Organizations. 

Link:
GFMD Source:

14th GFMD Summit - GRT3: Diasporas

Partner(s):

African Development Bank

African Union Commission (AUC)

International Organization for Migration (IOM)