TAILIEUCHUNG - Harnessing Diaspora Resources for Africa

Similarly, it might be possible that the relation between collateral and the probability of default was different depending on the type of lender. During the time period studied, savings banks have expanded their activities outside their traditional geographic markets and therefore it can be expected that they face a more severe adverse selection problem than banks which have grown mostly within their traditional markets. If this was the case among savings banks, collateral might be used to solve the problem raised by the hidden information situation. The loan maturity and the size of the loan, which in most. | OVERVIEW Harnessing Diaspora Resources for Africa Sonia Plaza and Dilip Ratha African countries including those in North Africa and Sub-Saharan Africa have over 30 million international migrants. The size of the African diaspora including unrecorded migrants and second- and third-generation migrants is significantly larger. Migrant remittances to Africa exceeded US 40 billion in 2010 providing a lifeline to the poor in many African countries. The potential contribution of the diaspora to the continent s development goes much beyond personal remittances. Those contributions range from collective remittances that assist in philanthropic activities to knowledge exchange increased trade links and better access to foreign capital markets. It is estimated that the African diasporas save US 53 billion annually most of which is currently invested outside Africa and which could potentially be mobilized for Africa via instruments such as diaspora bonds. This book is an attempt to understand various ways investments trade links skill and technology transfer in which diaspora resources other than remittances can potentially be mobilized for the development of Africa. This volume is the outcome of the International Conference on Diaspora and Development held at the World Bank headquarters in Washington DC on July 13-14 2009 as part of the 2008-11 Africa Migration Project. All the chapters in this volume were originally papers presented at 1 2 PLAZA AND RATHA the conference. The papers served as background material for a joint regional report of the African Development Bank and the World Bank entitled Leveraging Migration for Africa Remittances Skills and Investments released in March 2011 . Collectively these chapters provide the unique perspective of African and other countries on initiatives to maximize the benefits of diaspora engagement and their contributions. The four sections of this overview will discuss the following areas Where the African diaspora is located Benefits

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• epidemiological data
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