EUDiF

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Mainstreaming diaspora for development with capacity building and expert deployment

Expert log-in

Financial inclusion of remittance recipients

Nicaragua

Latin America

2014

In partnership with the International Organization for Migration and a consortium of foundations, Central America and Mexico Alliance for Migration (CAMMINA), a financial inclusion project for remittance recipients was developed with the private bank BANPRO. The purpose was to increase rates of savings for Nicaraguans receiving remittances. This project aimed to enhance financial literacy and practices, as well as provide information on financial products. More than 10,000 clients were beneficiaries and savings through the scheme totalled US$ 960,000.