Remittance corridor and Developing a Solidarity Savings product


Context: PADFI, a project funded by the Luxembourg government and managed by ADA to support the development of MFIs in Cap Verde, includes a migrant component.

Objective: Design a solidarity savings product for Cap Verdean migrants in Luxembourg to finance MFIs in Cap Verde.

Deliverables: a Market study to identify the characteristics of the Cape Verdean diaspora in Luxembourg and their needs for financial services; Develop a solidarity savings product, including partners and structure, leverage mechanism, financial modelling, and reporting and monitoring mechanisms.