Diaspora populations have long sent money back to their countries of origin in the form of remittances. Now, a new initiative led by the U.S. Agency for International Development and the Calvert Foundation seeks to tap that capital and put it to work more strategically.
It’s a test case, but if successful, it could be inspire similar efforts to better leverage other diaspora funds for development impact.
The Indian Diaspora Investment Initiative, a partnership between USAID, the Calvert Foundation and several private financial institutions in India, was announced with much fanfare last week by U.S. President Barack Obama.
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About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
