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As migration rises, finance can pave the way to benefits for all
by Laurie Goering

Thomson Reuters Foundation    Translate This Article
12 April 2018

On 12 April 2018 Thomson Reuters Foundation reported: In the capital of Uganda, where refugees have the legal right to work, one in five refugees runs a business employing other people -- and 40 percent of those staff are Ugandans, according to a leading microcredit financier. Giving refugees and other migrants the legal right to earn a living can not only help them launch new lives and cut the costs of caring for them, but it can also benefit those among whom they live, said Premal Shah, president of Kiva, a U.S.-based nonprofit that connects small lenders and those in need of cash. Global Good News service views this news as a sign of rising positivity in the fields of business and world peace, documenting the growth of life-supporting, evolutionary trends.

'We need to see how (migration) can be a win for the host community,' said Shah, whose organization has channeled more than $1 billion in loans since 2005. ...

Finding ways to help migrants restart productive lives that also produce benefits, not just costs, for their new communities will be crucial to global stability, experts said on Wednesday.

'We have to create a safe environment for people to succeed,' said Robert Annibale, who runs 'inclusive finance' for Citigroup Inc.

The truth is 'no ocean is going to be wide enough, no wall high enough, to stop people seeking protection and opportunity,' he told the Skoll World Forum on Social Entrepreneurship.

Citigroup, in turn, is working with young refugees in places like Jordan, Greece and Nigeria, to channel investment for them to start businesses, Annibale said. ...

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