Diaspora Investment and Entrepreneurship

The global mapping of diaspora engagement was created by the EU Global Diaspora Facility (EUDiF), a project funded by the European Union’s Directorate-General for International Partnerships (DG INTPA) and implemented by the International Centre for Migration Policy Development (ICMPD). The map is a unique resource for knowledge about diaspora engagement policies, practices, and priorities around the world, as well as the government institutions and diaspora organizations active in this dynamic space. It is a resource envisioned to assist the entire diaspora development ecosystem.

Through its Financing Facility for Remittances (FFR), IFAD is working to mobilize Malian migrant investment to encourage economic development entrepreneurism and employment in Mali, and to stimulate the economic inclusion of young Malians and offer them an alternative to migration, particularly in rural areas.

The PMD programme is financed by the Federal Ministry for Economic Cooperation and Development (BMZ) and supports key actors in making more effective use of regular migration and diaspora engagement to achieve their development goals. Guided by the Global Compact for Migration (GCM), the program is implemented by GIZ in up to 25 partner countries and focuses on the following three components:

Social innovation initiatives have been launched in many countries to find solutions to local challenges involving migrants, refugees and host communities in social entrepreneurship ventures.

Numerous programs empower young people to identify challenges in their communities and to create entrepreneurial solutions to address these barriers. Through a combination of training, mentorship and in some cases seed funding, youth learn transferable skills to become social innovators and entrepreneurs.

Some examples of these programs (see links below) are:

The Food and Agriculture Organisation (FAO)'s rural youth employement and agri-food systems in Ugrana project aims to foster diaspora investments in agricultural value chains in Uganda, by assessing and supporting institutional mechanisms, mapping Ugandan diaspora skills and expertise related to agri-business, and developing a diaspora in agribusiness network and road map for policy dialogue. 

Returnee Migrant Entrepreneurship Award Program is conducted annually and the Ministry of Labour, Employment and Social Security (MOLESS) of Nepal. The Program recognizes contributions of returnee migrants from across Nepal who are engaged in innovative entrepreneurship programs. Certificate of recognition and monetary incentives are provided to the awardees.

Global Pinoy offers remittance services for global and local Filipinos online. Furthermore, Global Pinoy has partnered with SM Cares to establish SM Global Pinoy Centers in SM Malls nationwide that offer services catered to the needs of the Overseas Filipino Workers and their families. Such services include free internet services, mobile phone charging, voice calls, beverages, BDO Remittance Pick-up services, and Foreign Exchange services by the SM Department Store.

The PARE 1+1 Programme for Attracting  Remittances into the Economy, launched in 2010, offers funding to complement migrants’ financial resources and provides entrepreneurial training to migrants and their relatives for business development. The Programme also provides beneficiaries with information on the existing business opportunities. For this purpose, diaspora networks act as important information dissemination channels thus raising awareness on available investment opportunities in Moldova.

Results:

Jamaica Diaspora Agriculture Taskforce (JDAT) Investor Circle provides microfinance funding for local farmers. The Circle provides an opportunity for persons and organizations within diaspora and Jamaica, to pool their resources in an effort to assist the country’s agricultural sector. The JDAT has been engaging Jamaican farmers in a number of initiatives aimed at promoting sustainable organic farming.