Grenada will host a two-day conference next week to discuss a medium and long-term strategy to maximise the development impact of remittances, direct diaspora investment and philanthropy.<\/p>\n
Attendees will discuss facilitating remittance transfers and empowering stakeholders, migrant and diaspora led investments as well as migrant and diaspora contributions to
\nskills and knowledge transfer.<\/p>\n
With remittances said to be accounting for about 11% of this country\u2019s Gross Domestic Product, the workshop: Leveraging Diaspora Contributions for the Development of Grenada, will seek to increase knowledge of best practices to develop a comprehensive
\napproach to remittances, to help government and stakeholders tap into the potential for
\ndiaspora direct investment.<\/p>\n
Head of the Diaspora Office in Grenada, Derrick James said, \u201cIsrael has a good remittance structure from which Grenada can adopt best practices. Israelis in the diaspora contribute significantly to the development of their country through remittances.\u201d<\/p>\n
The July 27-28 conference at the Grenada Trade Center will also be used to identify effective policies to increase development impact and seek buy-in from key stakeholders.<\/p>\n
Another expected outcome is the identification of key elements to develop a five-year roadmap to promote investments and savings in relation to remittances identified.<\/p>\n
Mr. James said, \u201cIncreasing the remittances that come in, will result in more money being available to help in the development of the country.\u201d<\/p>\n
James further stated, \u201cAt the conclusion of the conference, we plan to develop a final document, which we will present to the government, which will in turn, examine the potential to create relevant policies.<\/p>\n
We will then need to go to the banks to have discussions and we will also need to have a conversation with members of the diaspora, since they are the ones who remit the funds.\u201d<\/p>\n
The conference will bring together government representatives, diaspora organisations, representatives of financial institutions, Central Banks, and Credit Unions among others<\/p>\n","protected":false},"excerpt":{"rendered":"
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