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10 03 24 meins amsterdam euromed

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Presentation to EuroMed
- Sending Money Home to Africa & Global Forum on Remittances 2009
- 2010 Call for Proposals
- Specific project examples

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10 03 24 meins amsterdam euromed

  1. 1. Robert W. Meins Remittances Specialist Financing Facility for Remittances International Fund for Agricultural Development Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  2. 2.  Financing Facility for Remittances  2009/2010 focus on Africa  2010 call for proposals Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  3. 3. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  4. 4. 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)
  5. 5. 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)
  6. 6. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  7. 7.  $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)
  8. 8.  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)
  9. 9.  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)
  10. 10.  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)
  11. 11.  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)
  12. 12. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  13. 13. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  14. 14. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  15. 15. 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)
  16. 16.  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)
  17. 17.  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)
  18. 18.  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)
  19. 19. 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)
  20. 20.  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)
  21. 21.  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)
  22. 22.  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)
  23. 23. Financing Facility for Remittances International Fund for Agricultural Development (IFAD)
  24. 24. 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)
  25. 25.  Mexico  Philippines  Morocco  Pakistan Financing Facility for Remittances International Fund for Agricultural Development (IFAD)

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