Ethiopia: African Union Hosts Consultative and Experience Sharing Forum on Remittances Leverage for Development
By Staff Writer
ADDIS ABABA---The African Union Commission (AUC) in collaboration with the World Bank and the European Commission as well as the African Development Bank and the International Organisation for Migration will hold a two day Consultative and Experience Sharing Forum on Remittances Leverage for Development, at the headquarters of the AFRICAN Union in Addis Ababa, Ethiopia from today 7 - 8 July, 2011.
The forum will bring together senior level representatives from AU Member States and partner organisations, to discuss policy issues on remittances, provide recommendations for a concrete action plan for the establishment of the African Institute for Remittances (AIR), and share experiences and develop knowledge on policies and regulatory framework of the remittance sector.
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.
The objective of the African Institute for Remittances is to promote a better understanding of monetary and banking matters in Africa, as well as the pertinent aspects of fiscal and exchange rate policies; assist in improving the qualifications of central bank and other financial agencies personnel in Africa through the organisation of seminars and special training courses and the publication of surveys and research studies; conduct research and systematise the results of past experience in the above fields; and inform on developments in regional and international monetary and financial policy issues, amongst others. The AIR project will help 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.
Participants at the Consultative and Experience Sharing Forum on Remittances Leverage for Development would include: the UN Agencies; European Commission ; International Organisation for Migration (IOM); African Development Bank (AfDB); African Diaspora Organisations; UK Department for International Development; Regional Economic Communities (RECs); Pan African Employers Confederation; Organisation of African Trade Union Unity; International Trade Union Confederation Africa; and Pan African Productivity Association, and the Private Sector.