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IFAD partnered with the Malaysian Mobile Money Provider, Valyou, to open digital remittances channels to Pakistan and Bangladesh.
Specific projects on reducing remittance costs have been implemented in Burundi, Tunisia, Sudan, Zimbabwe (2016-2019) including advocacy with government and other stakeholders on the need to reduce remittance transfer costs.
The objective of the project is to reduce poverty and achieve sustainable peace through employment-focused, equitable and inclusive economic development.
This EU-funded € 15 million programme aims to address the impact of remittances to development through innovations, partnerships and scalable products that promote cheap and fast remittance transfers.
During COVID-19 digital literacy is important to bring migrants into the mainstream financial system.
The overall objective of the project is to strengthen the capacities of governments to support the long-term social and economic inclusion of refugees and migrants and enhance their positive economic and development impact on host countries.
The Programme Migration & Diaspora (PMD) supports partner countries in shaping migration policies and the provision of information on regular migration to key destination countries, including Germany.
In 2020, amidst the COVID-19 crisis, UNCDF sought partners to respond to the increased challenges faced by migrants and their families to send and receive remittances.
IFAD’s Near East, North Africa and Europe (NEN) Division and its Financing Facility for Remittances , in partnership with Moldova’s National Commission for Financial Markets , have begun a project designed to strengthen the country’s Savings and Credit Associations (SCAs) so that they can manage
EUDiF is the first EU-funded project that works towards fostering an informed, inclusive and impactful diaspora-development ecosystem on a global scale.
With generous support from the Swiss Agency for Development and Cooperation and Sida, the Swedish International Development Cooperation Agency, UNCDF migration and remittance programme is focused on three key areas: Improve Access, Increase Usage, and Strengthen Resilience.
Migapp is a mobile phone application which enables migrants to compare the cost of remittance transfers through various remittance companies, thereby reducing the cost of remittance transfers for migrants as well as enhancing financial literacy. It is utilized primarily by migrants.
The OSCE is committed to addressing the migration phenomenon cross-dimensionally and by capitalizing on the added value it can bring to regional and global solutions.
Achievements set by initiatives implemented under the Budapest Process translated into an EU funded project that aims at maximising the development potential of migration and mobility within the Silk Routes region and towards major labour receiving countries.
Migration waves, which started in the 1990s, have led to an outflow of Moldovan nationals, with a quarter of the population residing abroad (approximately 720,000 persons according to the National Bureau of Statistics).
The International Placement Services (ZAV) from the Bundesagentur für Arbeit and GIZ have established a project for the placement of qualified nurses with German companies.
The project contributes to strengthen the competition in the remittance market by enabling a new player, the Savings and Credit Associations (SCAs), who are the main local grassroots rural finance provider in Moldova, to provide international remittance services.
A key issue in the area of remittances is enabling financial services for remittance payouts in rural areas. Postal services which have strong postal networks in particular in rural areas can be a key opportunity for this.
DIASDEV, a joint project initiated by the French Development Agency and the Caisse des Dépôts from France, Italy, Morocco, Senegal and Tunisia, will be carried out in partnership with public-sector financial institutions in in 2021.
About the Migration Network Hub
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The Hub aims to support UN Member States in the implementation, follow-up and review of the Global Compact for Migration by serving as a repository of existing evidence, practices and initiatives, and facilitating access to knowledge sharing via online discussions, an expert database and demand-driven, tailor-made solutions (launching in 2021).
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