The United Nation’s International Fund for Agricultural Development is looking for innovative remittance schemes to invest $13 mn into. The initiative called Financial Facility for Remittances (FFR) 2008 is looking at proposals that would focus on promoting innovative remittance systems and investment channels for migrants. The FFR facility aims at reducing rural poverty and promote development. This in turn would support innovative and cost effective remittance services.
The FFR will promote collaborations between non profit organisations with formal financial intermediaries, money transfer channels, NGOs, and postal networks. Through a four phase competitive process the FFR will grant financing of up to US $250,000 per project to the eligible institutions to be implemented within a two year period.
Tags: FFR, Remit2Home, Remittance, UNIFAD
