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Seminar of the Czech Republic
Prague – February 24, 2009
REMITTANCE FLOWS AND DEVELOPMENT IMPACT
AFD APPROACH
Guillaume CRUSEExecutive Director’s Advisor on migrations
Introduction :
• Supporting and channelling remittance, an important tool for development issues
• But we have to be very cautious :
- Remittance are private flows, mainly for consumption - flows which are very un-precise or badly known
• All this matter as to be discussed :
- with the migrants - with the competent public stakeholders - with the banking system
5
Tableau : les courbes comparées : flux de capitaux privés, IDE, APD et transferts
I – Which objectives to be planed by an organisation such as AFD?
Contribute to regulation
- introducing the real figures, - collaborate to promote the appropriate rules and public regulations - propose good and appropriate financial mechanisms
In the field or remittance
1) having a better view and figures on the flows and on the real migrant’s practises
- several pasted studies or others going on - knowing facts in transfers - knowing their utilization
Breakdown of Investment Projects in the countries of origin
1% 7%3%
18%
71%
Agriculture
Commerce
Service
Immobilier
Pas de projet
Ratios d’utilisation des fonds (nombre de familles concernées par poste)
Sénégal Mali Maroc Comores
Budget familial 98% 94% 69% 96%Santé 81% 87% 30% 77%Education / formation 55% 59% 26% 39%Immobilier familial 19% 47% 10% 52%Immobilier individuel 14% 29% 6% 17%Investissement productif 11% 46% 13% 28%Projet social 5% 25% 1% 39%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Maroc Sénégal Mali Comores
Répartition des volumes de transferts par poste de dépense
Aide familiale Immobilier Investissements
Introduce transparency – role of the comparison websites
- the first one : the British “sendmoneyhome project” (DFID)
- our “envoidargent” in AFD
2) Reducing the cost of remitting
- Encouraging competition
- Improving a better banking coverage
. create new channels
. sustaining microfinance institutions in the countries of origin
. sustaining mutualism credit system
- Improving security and speed of transfer
. introducing new technologies
. better conveyance of the cash
. use the villages cash office for microfinance
- Sustaining or promoting investments
. welcoming migrants in the banking system
. encourage competition in saving accounts for driving investments
. transfer credit from France to the countries of origin
. encourage new system for insurances
. promote credit for family or individual construction
. in place, give credit and guaranties for productive projects
. introduce a new meso-finance approach
. sustaining the local development
II – developing partnership
- with the appropriate public institutions and ministries
- with European Commission
- with bilateral donors
- with multilateral donors
- with private partners as banks, but maybe also firms
III – Which countries?
- as seen in the studies: Morocco, Senegal, Mali, Comoros
- when we have an official agreement between Governments : Tunisia, Benin, Mauritius, Burkina Faso
- significant other countries : Vietnam, Haiti