Objective of the project
To develop the savings for migrants and to optimize the costs of money transfers

Areas of intervention
Senegal, Mali, Europe

PAMECAS, CVECA Kayes, Nyesigiso

Project manager

Some key figures:

€ 1.86 million have been transferred by 1,239 migrants
€ 270.000 invested in savings products

Savings, microcredit and money transfers for migrants

  • Savings, microcredit and money transfers
  • Savings, microcredit and money transfers
  • Savings, microcredit and money transfers
  • Savings, microcredit and money transfers
  • Savings, microcredit and money transfers

Migrants working in Europe usually send a large portion of the money they earn back to their home countries, essentially through non-regulated channels or highly expensive, low-security channels. Developing a reliable, efficient and competitive service to this population enhances financial inclusion.

Once they have reached their destination, these remittances are often spent straight away, in part due to a lack of suitable financial services. Yet this money could be saved or invested.

In view of that wasted potential, ADA and its partners developed a migrant remittance-boosting project. The project’s objective is to offer transfers at a moderate price, as well as associated savings and credit products into which the transferred funds can be invested. This maximises migrant-remittances’ potential and gives the expatriated workers the opportunity to contribute to their home countries’ development.

The pilot project was launched in 2009. With ADA’s support, the PAMECAS microfinance institution set up a flow corridor between Italy and Senegal. Senegalese migrants in Italy can now save and invest better in Senegal. PAMECAS is now expanding its remittance-boosting project to new corridors such as Spain–Senegal, Gabon–Senegal and United States–Senegal.

Working together with two Malian microfinance institutions, CVECA Kayes and Nyesigiso, ADA replicated the flow-corridor model between France and Mali, in 2011.

New savings products have been developed for migrants, as have associated credit products – Family Expenditure savings, Project savings, Housing Credit savings and Return savings.

Since the project was launched in 2009, over 1.86 million euros have been transferred by 1,239 migrants living in France or Italy. Of this amount, they have invested 270 000 euros in savings products with microfinance institutions in their home countries.


Golf workers

November 2017

Enabling migrant workers access to insurance products

ADA and Democrance team up on a new project to promote access to insurance products for migrant workers, through an innovative technology solution linked to remittances.

This project, aimed at migrant workers from rural areas of India and the Philippines based in the United Arab Emirates, is intended to protect the income and activities of family members back home.

ADA, a Luxembourg NGO specialized in microfinance, and its partner Democrance, a startup IT platform specialized in microinsurance based in Dubaï whose mission is to democratize insurance by making it accessible and affordable to the low-income population in the Middle East and North African region, have 18 months to implement the project, starting in November 2017.

This initiative was born following the call for proposal “Scaling Up REmittances (SURE): Promoting innovative remittance systems and investment channels for migrants in rural economies”, financed by the International Fund for Agricultural Development (IFAD)  ̶  a specialized agency of the United Nations dedicated to eradicating rural poverty in developing countries  ̶ , in cofinancing partnership with the European Commission, the Government of Luxembourg and the Spanish Ministry of Foreign Affairs and Cooperation.


This document was produced with the financial assistance of the European Union. The views expressed herein can in no way be taken to reflect the official opinion of the European Union.

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