Linking Remittances Beyond Consumption with Housing Microfinance
Location
QED Group LLC1250 Eye St NW
11th Floor
Washington, DC 20005
United States
Metro
|
Calendar Add to Outlook |
On this page
Diego Rios
Microfinance International Corporation
Click on the Event Resources button to view the presentation and other resources.
Currently, the United Nations estimates that there are more than 200 million migrants worldwide. According to the World Bank, migrants sent more than $325 billion in remittances to their families and friends in 2010. Because the vast majority of these remittances were sent through informal channels, the full economic impact of this substantial sum of money was never realized.
This presentation will explore the ways in which the practice of sending remittances can be linked to asset building activities in one’s country of origin. Specifically, how the use of a transnational mortgage allows for the purchase or improvement of a residential property and provides immigrants living abroad with the option to use remittances beyond consumption.
Greenroom Interview: Key Takeaways
Diego Rios
Presenter Bio:
Diego Rios is a Project Manager at Microfinance International Corporation (MFIC) in Washington, DC. His work focuses on developing and implementing innovative financial products and services linked to international money transfers or remittances and has included the development of MFIC’s transnational loan program in El Salvador and Bolivia. Prior to joining MFIC in 2009, Rios interned at Grameen Bank and ASA in Bangladesh and was co-founder of the Loyola Microfinance Program, a student run microlending initiative that aimed to reach low-income entrepreneurs in New Orleans. He currently serves on the Board of Financial Inclusion Forum of DC. Rios holds a degree in finance from Loyola University in New Orleans.
You may also be interested to view After Hours Seminar #50 on the subject of Migrant-backed Loans: Mobilizing Remittances in Guatemala
Visit our Help Center to find answers to frequently asked questions.
Related