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Bonds of the Diaspora

WASHINGTON, DC – The goals of the post-2015 development agenda cannot be achieved without strong programs and adequate funding. Official development assistance amounts to roughly $130 billion a year; though foreign-direct investment and portfolio inflows can help poor economies, additional sources of development finance must be found.

One under-exploited resource is diaspora financing – that is, the remittances and savings earned by nationals working abroad and sent home to family and friends. The challenge is to channel this income effectively.