{"id":35955,"date":"2023-02-18T08:38:56","date_gmt":"2023-02-18T08:38:56","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/eac-mulls-diaspora-plan-to-spur-development"},"modified":"2023-02-18T08:51:29","modified_gmt":"2023-02-18T08:51:29","slug":"eac-mulls-diaspora-plan-to-spur-development","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development","title":{"rendered":"EAC mulls\u00a0diaspora\u00a0plan to spur development"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>The East African Community is developing a regional diaspora policy and plan of action to establish a strategic framework for mobilising and integrating the diaspora in the regional integration process and harnessing communication links within the diaspora community.<\/p>\n

According to the EAC Secretariat, the process which is supported by the International Organization for Migration includes assessing diaspora-related information and proposing the ideal data sharing and protection principle among the key stakeholders.<\/p>\n

The Secretariat has conducted a review of existing legislation, policies, institutional structures, and coordination mechanisms on diaspora engagement of all partner states.<\/p>\n

It is gathering information from relevant ministries, departments, directorates in the partner states responsible for diaspora matters, investment promotion and facilitation.<\/p>\n

\u201cThe EAC is consulting with partner states and other partners about what kind of information is needed from Diaspora members to facilitate their work or analysis on Diaspora contribution, and suggest how the data should be compiled and safely stored, ensuring the human rights and data protection principle,\u201d reads a statement by the Secretariat.<\/p>\n

\u201cThe EAC is seeking to get views on the expectations of the diaspora on the regional diaspora policy and what type of information to be shared as part of diaspora registration.\u201d<\/p>\n

The plan, presently, is also to conduct a regional analysis of diaspora engagement in EAC, including relevant legal, regulatory, policy and institutional frameworks, trends, good practices, challenges, and recommendations.<\/p>\n

Development experts have long established that the diaspora can play an important role in the economic development of their countries of origin.<\/p>\n

According to EAC Secretary General, Peter Mathuki, the diaspora has a significant role to play in the development of the region.<\/p>\n

\u201cThe EAC recognizes the role of diaspora remittance, which continues to outpace Foreign Direct Investment to become the largest source of external financing. This now means the diaspora has a huge role to play,\u201d Mathuki told The New Times.<\/p>\n

\u201cAll EAC governments have set up a diaspora desk \u2013 recognizing the role of the diaspora community. We are developing a diaspora engagement strategy which will keep them [diaspora] informed of investment opportunities.\u201d<\/p>\n

The inflow of funds from the diaspora has been on an upward trajectory in recent years. In 2021, the Kenyan diaspora remittance stood at $3.718 billion, while remittances from Uganda stood at $599.3 million.<\/p>\n

The inflow of funds from the Tanzania diaspora stood at $569.5 while Rwanda diaspora remitted $246 million.<\/p>\n

The inflow of funds from the diaspora contributed largely to the bloc\u2019s foreign direct investment (FDI) which stood at $8.2 billion – a 35% growth; and helped the region\u2019s economy withstand the devastating economic impact of Covid-19 and the trickle-down effect of the Russia-Ukraine conflict, EAC Secretary General, Peter Mathuki, noted in October 2022, during the bloc\u2019s annual trade and investment conference organized by the East Africa Chamber of Commerce in Irving, Texas, USA.<\/p>\n

At the time, hundreds of East Africans residing across the USA and East African-focused investors, converged at the conference to explore areas of investment and deliberate on solutions to overcome investment and trade challenges.<\/p>\n

The region\u2019s diaspora community highlighted a lack of trust in local financial institutions as one of the challenges deterring investment in the region. Mathuki urged them to establish financial institutions such as an EAC diaspora bank, located in one of the EAC partner states, where they can access credit and transact business.<\/p>\n

He also noted that the diaspora community will be incorporated in EAC signature events, such as Pre-Summit retreats, offering them an opportunity to engage with regional Heads of State, Ministers and the regional business community.<\/p>\n

According to economists, beyond their well-known role as senders of remittances, diasporas can also promote trade and foreign direct investment, create businesses and spur entrepreneurship, and transfer new knowledge and skills.<\/p>\n

Reports indicate that, today, India\u2019s diaspora community of nearly 18 million across 136 countries is the largest diaspora community in the world. India\u2019s diaspora, reportedly, brings the highest amount of remittance \u2013 $87 billion in 2021 in the world \u2013 with the largest percentage coming from the Gulf countries.<\/p>\n

Scholars have identified five types of diasporas; victim diasporas, labour and imperial diasporas, trade diasporas, cultural diasporas, global \u2013 deterritorialized diasporas. These different types of diaspora, it is noted, may overlap and change their character over time.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. The East African Community is developing a regional diaspora policy and plan of action to establish a strategic framework for mobilising and integrating the diaspora in the regional integration process and harnessing communication links within the diaspora community. According to the EAC Secretariat, the process which is supported by the International Organization […]<\/p>\n","protected":false},"author":84,"featured_media":35954,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[760,763,758],"class_list":["post-35955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nEAC mulls\u00a0diaspora\u00a0plan to spur development - Rwanda<\/title>\n<meta name=\"description\" content=\"The East African Community is developing a regional diaspora policy and plan of action to establish a strategic framewor ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EAC mulls\u00a0diaspora\u00a0plan to spur development\" \/>\n<meta property=\"og:description\" content=\"The East African Community is developing a regional diaspora policy and plan of action to establish a strategic framewor ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-18T08:38:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-18T08:51:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/02\/postQueueImg_1676696966.63.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EAC mulls\u00a0diaspora\u00a0plan to spur development\",\"datePublished\":\"2023-02-18T08:38:56+00:00\",\"dateModified\":\"2023-02-18T08:51:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\"},\"wordCount\":715,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/02\/postQueueImg_1676696966.63.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/eac-mulls-diaspora-plan-to-spur-development\",\"name\":\"EAC mulls\u00a0diaspora\u00a0plan to spur development - 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