Africa and Europe in Partnership The African Union with the support of the World Bank and the European Commission, and in cooperation with the African Development Bank and the International Organisation for Migration is launching an online consultation to develop a Terms of Reference for an African Institute for Remittances.
The core objectives of the African Institute Remittances project are to:a) Facilitate the process leading to the creation of the Institute;
(b) Build the capacity of the Member States of the African Union, remittance senders and recipients and other stakeholders to develop and implement concrete strategies and operational instruments to use remittances as development tools for poverty reduction.
The overriding purpose of these consultations is to involve the broadest possible spectrum of stakeholders from Africa and the Diaspora in a discussion on remittances and how they are sent and used.
You are invited to participate in this public online consultation.
The AIR project would work on implementing the following activities:
- providing technical assistance to government institutions (central banks, Ministries, financial and non-financial institutions) on establishing and operating the necessary regulatory frameworks;
- carrying out required training and capacity building programmes of relevant institutions and organisations (e.g. national statistical services departments);
- studying remittances flows within Africa (including North Africa);
- conducting policy research and dialogue and sharing information on how remittances can better contribute to the development of African countries;
- developing content and technology platforms for country-based payment and settlement systems for remittances;
- developing partnerships between African central banks and remittance service providers and non-bank correspondent agencies to improve financial access; and
- Disseminating data and research findings on good practices through annual reports, conferences and workshops for stakeholders as well as meetings with the region’s policy makers.
We want to hear your thoughts and views about this project specifically and also hear your wider opinions about remittances in Africa – how they are sent and used, challenges, costs, alternatives, changes, suggestions and any other thoughts you have.
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