[ad_1]
From the sending of funds to the purchase of bonds of the Grand Ethiopian Renaissance Dam, the diaspora community, despite many obstacles, has contributed financially to support the socio-economic development of his country. But their contribution was not sufficient considering their size. Mainly, the long political polarization has fractured the relationship with the government and the division within the diaspora would have a negative impact on their participation in national development. solidarity in addition to engaging in an inclusive political space, there are many opportunities and enabling environments for the diaspora to engage more in national developments. While the government is making great efforts to encourage the diaspora to send money through the official channel and increase the volume of transfers, the messages of reconciliation and unity of the new leaders seem to be well taken with the return of politicians and monetary easing blockade
Remittances are generally considered fruits at hand when the country benefits as a foreign currency. However, the desire of the diaspora to help his countrymen at home has led countries to find lost mechanisms. Just mention China and India who have a large number of diasporas living around the world. Some countries that have realized the considerable potential of the diaspora have established various channels to facilitate diaspora investments, including diaspora trust funds. Diaspora trust funds would promote the financial inclusion of diaspora participation.
Major initiative, recently, the trust fund of the diaspora proposed by the Prime Minister, Dr. Abiy Ahmed, on the occasion of his appearance before the House of Representatives of the people. Subsequently was hosted by the Ethiopian Diaspora Association. This offers the diaspora community an additional means of funding social services. Each member of the Diaspora community would contribute one dollar a day to help the home development business.
Therefore, the Commercial Bank of Ethiopia (CBE) revealed the account of the Diaspora Trust Fund where the Ethiopian diaspora should make financial contributions to expand the social service facilities. All funds will be directly allocated to the expansion of social services for the benefit of the rural community.
The Bank set up a special office responsible for matters relating to the Trust Fund Account. The account number 1000255726725 is fully dedicated for this purpose and the Bank is working with more than 20 money transfer organizations that the Community could use for their contribution to the President of the Commercial Bank, Bacha Gina. "The Government Will Soon Establish An Organization That Will Soon Manage Trust Funds",
Shortly after the announcement, diasporas and the Ethiopian Diaspora Association welcomed the movement and expressed their commitment to realizing Government proposal.
The initiative is a good move and an important step to involve the diaspora in the socio-economic enterprises of the country, said the director general of the Association, Abraham Seyoum. "We are ready to help our ability in the whole process once the details are fully prepared by the government," he said.
The question will be at the top of the agenda of the Prime Minister's next visit to the United States. "Members of the diaspora community living around the world express their support for the initiative and the Association will do its part for its success," Abreham added.
According to Abraham, his badociation would be at its level the best partner of the Ministry of Foreign Affairs to concretize the initiative.
One of the priorities of the embbadies is to strengthen the link between the government and the diaspora. Consulates and embbadies must conduct an awareness program. There must be a strong correlation and up-to-date information about the process and development of the trust fund.
In order to mobilize the diaspora to make a financial contribution, the Ethiopian embbadies have already begun discussions with the Diaspora fundraising efforts and discuss the issue thoroughly. Especially with the staggering number of Ethiopian diaspora living in the United States, Dr. Abiy's visit should provide a better understanding of the Fund and other national issues.
[ad_2]
Source link
