Diaspora Investment and Entrepreneurship

Remittances from migrants are a major source of financing for the economies of developing countries and of the recipient populations. They are of great benefit to large segments of the population which, without these resources, would live in conditions of abject poverty. Consequently, remittance flows tend to remain stable even when the migrants’ countries of residence are beset by economic and financial crisis. They seem to be less volatile than official development assistance and foreign direct investment.

This bilateral program aims to facilitate actions undertaken by Senegalese diaspora members living in France for the economic and social development of their country of origin. It has four main components:

In 2009 the Swedish government appointed an independent Parliamentary Committee on Circular Migration and Development, with the task of examining the link between circular migration and development by mapping circular migration to and from Sweden and identifing factors that influence migrants’ opportunities to circulate.

The Vice-Ministry for Salvadorans abroad has the main goal of promoting the protection of the Salvadorans residing abroad and to enable their access to opportunities to be part of the development of the country.

This objective is to make diaspora investment and remittances more productive and effective and to connect western markets and emerging markets.

The Diaspora Business Centre is a one stop shop that combines business and social interests, paired with professional know-how by diaspora experts.

Their activities entail the following:

A Directorate for Togolese Abroad (that grew out of a diaspora unit within the Ministry of Foreign Affairs and Cooperation) has made diaspora engagement part of their national development plan—the Strategy for Accelerated Growth and Employment Promotion (SCAPE). 

Moldova has recently established a Bureau for Diaspora Relations, aiming to coordinate the implementation of state policy in relations with the diaspora, contributing, in this way, to the preservation and promotion of the ethnic, cultural and linguistic identity of Moldovans abroad, as well as turning to good account the human and material potential of diaspora.

Swedfund provides risk capital, expertise and financial support for investments in the emerging markets of Africa, Asia, Latin America and Eastern Europe.

Swedfund’s mission is “to help in enabling poor people to improve their lives” and “to bring about strengthened democracy, equitable and sustainable development”. By co-financing sound investments, it encourages economically, environmentally and socially sustainable development.

The OFW Reintegration Program (OFW-RP) is a special loan program of the Overseas Workers Welfare Administration (OWWA) in partnership with the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LandBank).  It is intended to support enterprises development among OFWs and their families.

Overseas Indian Facilitation Centre (OIFC) was established in 2007 with the objective of supporting the Indian Diaspora connect better with India and assisting them in deepening their economic and intellectual engagement with India. Ministry of Overseas Indian Affairs, Government of India, set up OIFC, a Public Private Partnership, in association with Confederation of Indian Industry (CII), India’s apex industry chamber.