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 Program 3x1 (“Programa 3x1 para migrantes”) supports Mexicans living abroad to develop social infrastructure and productive projects in their hometown communities, with the participation of the federal, state and local government. The Program 3x1 for migrants is the federal government's answer for supporting migrant desire of improving their hometowns through the development of community social and productive projects. Adding the participation of the state and local government and hometown associations.
PostBank Uganda, in partnership with Posta Uganda and the International Fund for Agricultural Development (IFAD), is finalizing its remittances business plan and expanding financial inclusion through remittances in rural areas of Uganda, leveraging Posta Uganda’s broad network of rural post offices to expand access to financial services for the rural population. The post offices are being equipped with modern digital and mobile technologies for remittance delivery and financial service transactions, and postal staff is receive specialized training.
Remit Hydro, a subsidiary of the government company Hydro Electricity Investment and Development Company Limited (HIDCL), is a concept for the development of hydropower sector in Nepal. A part of the remittance money the country is receiving will be used in the equity investment of hydropower projects. The project aims to promote collective remittances for development and encourage the productive use of remittances.
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:
This highly innovative project works to digitize migrant workers’ remittances both in Malaysia and in countries of origin through e-wallets (wallet-based mobile-enabled remittance system), thus providing remittance recipients access to additional financial services that meet their needs. It aims to link mobile-enabled remittances with digital financial services offered by third parties at the receiving end in Pakistan and Bangladesh.
Deepening financial inclusion and enhancing rural people’s resilience by providing low-cost, cross-border mobile money transfers across the Kenya-Uganda corridor, linked with savings, loans and other financial services, and by promoting entrepreneurship for migrant family investment.
FAO is supporting the channeling of remittances (using the “1+1” matching approach) for agricultural development, nutrition and social protection in national food systems, including by assisting migrants and their families and communities in formulating small- and medium-scale enterprises in fruit, vegetable and livestock production and agribusiness.
The project on “Supporting Migrants and Potential Migrants from Egypt through Information” was launched in 2001 at the initiative of Egypt's Ministry of Manpower and Emigration (MME) and with the support of the International Organization for Migration (IOM).