The Working Group of the International Migrants Remittances Observatory for Least Developed Countries (IMRO), in partnership with several public and private organizations, has established the World Diaspora Fund (WDF) in Geneva, Switzerland. According to IMRO, the fund is “intended to offer migrants a secure investment vehicle that will contribute to the development of their countries of origin.” WDF will invest through loans, guarantees and through stakes in microfinance institutions (MFIs). It also intends to provide migrant investors with a “fair” monetary return.
By Stefanie Rubin, Research Associate
About The International Migrants Remittances Observatory (IMRO):
According to its website, “the International Migrants Remittances Observatory (IMRO) is part of following up on the recommendations of the Ministerial Conference of Least Developed Countries (LDCs) on strengthening the impact of remittances on development that was held in Cotonou, Benin the 09 and 10 February 2006.”
IMRO was organized by the Government of the Republic of Benin, the International Organization for Migration (IOM) and the Office of the High Representative for the LDCs.
Additional Resources:
Source Article: The International Migrants Remittances Observatory for Least Developed Countries (IMRO): “Establishment of the World Diaspora Fund
in Geneva,” http://www.oitfm.org/en/news_com_eng.html
MicroCapital Universe: International Migrants Remittances Observatory (IMRO): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Migrants+Remittances+Observatory+%28IMRO%29
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