10 03 24 meins amsterdam euromed

Robert W. Meins Remittances Specialist Financing Facility for Remittances International Fund for Agricultural Development Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Financing Facility for Remittances  2009/2010 focus on Africa  2010 call for proposals Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

Kayunga A transfer of $200 is sent from the UK to Kuyunga, Uganda, 50 kilometers from the capital Kampala. The sender has two options: 1) Send directly to Kuyunga using Western Union. Kampala 2) Send to a competing firm in Kampala. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

Kayunga Remitter sends $ 200,- - Transfer fees $40.00 - Exchange rate margin 1.28 % - Fees on the receiving side $0 Actual amount received in $ 157.44 (21.28%) Kayunga Remitter sends $ 200,- - Transfer fees $19.03 Kampala - Exchange rate margin 1.15 % - Fees on the receiving side $0 Actual amount received in $ 176.68 (11.66%) Kampala Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 $18 million dollar multi-donor fund  Consultative Group for Assistance to the Poor  European Commission  Government Luxembourg  Government Spain  Inter-American Development Bank  UN Capital Development Fund, and  Housed at the International Fund for Agricultural Development  FFR manages 40 projects in 38 countries around the globe  Open to private, public and civil society organizations Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Annual Calls for Proposals  Global Forum on Remittances  “Sending Money Home” series of studies  Together with gov. of France, financed a remittances initiative managed by the AfDB  RemittancesGateway.org portal  Dissemination & consultation  G8 Working group on remittances  European Parliament  Global Forum on Migration & Development  Conferences Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 We explore innovative proposals…  from around the world…  driven by public/private and civil society groups…  covering a broad range of interventions…  but squarely related to the financial side of migration…  for this reason we have a strong market and private sector focus… Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Lower the cost of remittances through competition  Improve capillarity, service rural areas  Broaden the scope of financial services  Bank the unbanked … to empower migrant workers and their families to advance on the road to financial independence. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 FONKOZE  Microfinance (Haiti)  Solutions to rural challenges helped after earthquake  Universal Postal Union  Postal networks (Senegal)  HIRDA (Netherlands-Somalia)  Migrant organization  Philippine Women’s Council (Italy – Philippines)  Migrant women’s group focusing on investment Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

100 80 60 40 20 0 Congo Botswana Cote d'Ivoire Senegal Tunisia Kenya Gabon Djibouti Comoros Algeria Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 2007: Latin America (w/ IDB)  “Sending Money Home”  First global estimate of remittances  2009: Africa (w/ AfDB)  “Sending Money Home to Africa”  Regulatory & market blockages and opportunities Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Increase competition  Empower market actors  Achieve effective and efficient regulation  Adopt new technologies  Expand access to financial services  Make more financial services available in rural areas Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Grant financing for projects related to maximizing the development impact of remittances  up to $250,000 for projects  up to $500,000 for mobile financial services Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

Mobile financial services Housing Postal networks (Micro-) Insurance Microfinance networks Migrant pensions and other government-to-person payments Financial services innovations Securitization Migrant entrepreneurship and Open window (innovative projects in investment (funds) other areas) Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Who can apply?  Private sector  Public sector  Civil society  Cross-sector partnerships encouraged  Execution period: 2 years  Deadline (short) concept proposals: June 7th 2010 Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Must have  Legal status in country where you operate  Audited financial statements  Act on behalf of themselves (not as an intermediary)  Provide counterpart  10-30% non-profit  50% for for-profit (minimum half of which in cash)  Project must be in IFAD member count Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Institutionally neutral platform  Bringing together a broad range of information  Documents  News  Discussion  Agenda  Profiles  All are welcome to contribute Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

Robert W. Meins R.Meins@ifad.org +39 06 5459 2059 www.ifad.org/remittances www.remittancesgateway.org Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

 Mexico  Philippines  Morocco  Pakistan Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

10 03 24 meins amsterdam euromed

by Robert

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