The Financing Facility for Remittances (FFR) of IFAD through its program, Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa) which is being co-financed by the European Union aims to reduce inequality and enhance financial inclusion in Africa through reduction of remittance costs and maximization of their impact.
The call aims to support finance initiatives that will achieve the below objectives:
- Reduce international remittance transaction costs – Contribute to reducing international remittance transfer costs and increase access to and use of transparent and gender-responsive low-cost services.
- Accelerate digitalization of international remittances – Accelerate the use of digital products and the digital payments ecosystem to support international remittances.
- Leverage remittances to deepen financial inclusion – Use international remittances as a conduit for increasing financial inclusion and the resilience of remittance senders and recipients.
- Expand formal channels for international remittances – Promote greater access and use of formal international remittance transfers.
National Calls for Proposals 2021 will finance grants from €150,000 up to €500,000.
Regional proposals including both Kenya and Uganda can request up to €750,000.