Africa: Diaspora development efforts stimulated

The World Bank has announced plans to collaborate with the African Union in exploring the possibilities for the development of a Diaspora Remittances Investment Fund, according to a statement made available to PANA. The World Bank statement said the establishment of the Fund would be based on global experiences that exploited the benefits of and leverage remittances to finance Diaspora-led development activities, in a manner similar to existing mechanisms in Latin America.