Channeling diaspora’s financial & human resources into investments at the home country is one the most important objectives of our work.
A growing body of evidence suggests that diasporas play a critical role in supporting sustainable development by transferring resources, knowledge, and ideas back to their home countries, thus integrating their countries of origin into the global economy.
Among the many potentials of the diaspora, channeling their financial and human resources into investments in the home country is one of the most important. Therefore, our goal is to attract diaspora investments of various forms, the effects of which are multidimensional in the home country.
Financial flows from migrants and their descendants are at the heart of the relationship between migration and development. While remittances are increasingly affecting economic development of the home countries, diasporas also hold substantial financial assets beyond their current income (savings and retirement accounts, in property, debt, and equity). While remittances tap the incomes of migrants, the challenge is to mobilize the wealth of the diaspora, precisely mobilizing savings and channeling them to productive investment.
GERMIN in collaboration with local stakeholders and institutions is working to organize and facilitate various activities to enable the diaspora investments in the countries of origin, namely Kosovo, Albania, North Macedonia, Montenegro, and Southeast Serbia. One of our flagship initiatives is developed in partnership with local municipalities. It aims to generate income and employment at the local level through promotion of local products, Public-Private Partnerships (PPPs), and market linkage activities, by leveraging diaspora networks. Meanwhile, attracting Diaspora Direct Investments (DDI) is one of the biggest goals to achieve within this framework.
Throughout the above mentioned countries there is an emerging start-up culture, with many young entrepreneurs developing small businesses to provide professional services and solutions to today’s society. We are working to facilitate market linkages between them and internationals companies, which in this case could be owned or managed by our diaspora members. In this regard, GERMIN organizes (in partnership with different stakeholders) various activities to facilitate the connection and matching between local service providers and diaspora business partners.
GERMIN is also developing a new project as part of this program, always aiming to increase diaspora participation economically, and re-channel remittances, which mainly go for daily consumption of goods that come from imports. You can find our current projects as part of this program at the top right side of the page.