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Remittances, Development & NGO Sustainability

Remittances, Development & NGO Sustainability

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Published by fundsforngos
http://www.fundsforngos.org/2009/05/remittances-development-and-ngo.html
http://www.fundsforngos.org/2009/05/remittances-development-and-ngo.html

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Published by: fundsforngos on May 22, 2009
Copyright:Attribution Non-commercial

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08/08/2010

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Remittances, Development& NGO Sustainability
According to Orozco (2005), the flow of remittances has far exceeded the entireamount spent on international aid anddevelopment.
In 2006, IFAD in partnership with theEuropean Commission implemented theFinancing Facility for Remittances (FFR)in Latin America.
In 2007, DFID supported theremittances and Payments ChallengeFund (RPCF) in Banladesh
 
Remittance and FinancialAccess
 These pioneer interventions establisha new process for expanding accessto financial services in poorcountries.
Remittances are powerful sources of finance made available to developingcountries.
Although remittances cannot directlyinfluence the outcomes of povertyreduction, they can still complementefforts of the international
 
Remittances andMicrofinance
Following IFAD’s success on usingremittances for reducing poverty inLatin America, it is now upscaling theidea to other parts of the world.
Remittances can be used as a sourceof sustainable capital for expandingthe activities of microfinance indeveloping countries.
 The migrant resources can be usedas investments for community-baseddevelopment.

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