Innovation to Spur Remittance-driven Development thru Corporate Social Responsibility
A new programme, called Remit4changewas launched last week by the Commission on Filipinos Overseas (CFO) in partnership with the Transnational Institute for Grassroots Research & Action (TIGRA), a California-based non-governmental organization. The program promotes an enabling environment for the collective remittance practices of Filipino overseas to boost local economic development.“With this programme, we aim to develop an innovative grassroots model of migrant-centered and driven development that truly embodies President Aquino’s Public-Private Partnership strategy for national economic development,” commented Sec. Imelda Nicolas of the Commission on Filipinos Overseas. “We have partnered with TIGRA to adopt and adapt its Remit4change program which will generate funding for community-based projects through principles and practices of corporate social responsibility in the money transfer industry.”
Francis Calpotura, TIGRA Executive Director said: “Every time our kababayans use a US-based money transfer company accredited by TIGRA, that company will contribute $1 to a community development project of the remitter’s choice. The remitter selects from a list of projects aimed to improve the lives of migrant families.” According to TIGRA’s estimates, in 2010 alone, Filipinos overseas transacted more than 50 million money transfers from more than 120 countries.
“We launched Remit4Change for Latin America last year, and we’re ready to replicate the program in the Philippines this year. Our partnership with CFO is a historic step in making migration an option and not a necessity for economic survival for millions of Filipinos,” added Calpotura.
“We strongly support and campaign for Remit4Change which highlights the vital role of migrants in generating corporate community reinvestments as a viable and practical model that benefits migrant communities,” commented Melanie Valenciano, Program Officer at Unlad Kabayan, a Remit4change beneficiary and the lead Philippine-based, migrant worker NGO that collaborates with TIGRA in implementing the program. “Furthermore, Remit4Change also reinforces the broader need for lower, fairer, and more transparent remittance fee-pricing that will democratize the industry.” read more>>>>