Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

News

Based on the Greenback 2.0 Turin Survey, this paper explores the effect of the economic crisis on income trends and on the flow of monetary remittances sent to the families left home among three surveyed groups in Turin — Moroccans, Peruvians, and Romanians. Results show a widespread worsening of the average economic conditions since the outbreak of the crisis in 2008.

ANGI is an Italian-Chinese association, which is helping Chinese migrants in Turin, Italy. The association is now providing information on remittance services to Chinese migrants, thanks to Project Greenback 2.0. This video (in Chinese) was produced by ANGI thanks to the Greenback 2.0 Challenge Fund.

“Do you send money home? Do you really know how much it costs?” 

Thanks to a project funded by the World Bank Challenge fund in the contest of Project Greenback 2.0, ANGI (Association New Italian-Chinese Generation) helps the Chinese community living in Turin to answer these questions by opening a free information desk on remittances. 

The objective of the service is to promote the use of safer and more efficient channels for sending money home and increase awareness and knowledge of the available remittance services.

The project “Risparmiare in casa” (Saving at home), carried out by the Bucovina association and funded by the Challenge Fund of The World Bank as a part of Project Greenback 2.0, came to an end.

"Risparmiare in casa" was a transnational educational project about savings, with a specific focus on remittances.

Twenty Romanian Roma families living in Turin, Italy and their relatives living in Oravita, Romania were involved in training sessions on financial education and remittances.

We are launching the "Challenge Fund" in Montreuil! The Fund will support initiatives aimed at raising awareness and informing migrants in Montreuil, France, on remittance services and promote transparency and innovation in money transfer services, and make services closer to migrants and their family’s needs.

More than 60 entities from different horizons participated to the launch event of Project Greenback 2.0 in Montreuil on 28 October 2014: migrants associations, entities working with migrants (NGOs, public services, etc), remittance service providers, researchers, officials from the City of Montreuil and the Ministry of Foreign affairs and international development.

On 3 October 2014, we organized the second workshop of the series “Remittances: migrants meet the providers” in Turin. Representatives of Ria, Western Union, and Money Express presented their remittance products and discussed them with migrants and community leaders who attended the event.

The workshop is one of the strategic interventions of Project Greenback 2.0 to promote transparency and information in the market for remittances and keep an active dialogue between migrant citizens and market players.

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Greenback 2.0 will be officially presented in Montreuil on October 28, during a meeting organized by the World Bank in partnership with the City of Montreuil and the Ministry of Foreign Affairs and International Development.

The meeting will allow key stakeholders - representatives of migrant communities, entities working with migrants and market players - to exchange views on the topic of remittances and identify action to be implemented in Montreuil.

On Friday October 10, we reported on the activities Project Greenback 2.0 to the World Bank Global Remittances Working Group. Here the slides (in pdf).

On September 24, 2014 we organized the first workshop on “Migrants meet providers” in Turin. Poste Italiane was the first company to present themselves and their financial products and remittance services to migrants sending money home. The series of workshops will give migrants an opportunity to meet different types of service providers and discuss with them their needs.

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