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Project details
Remittances and Payments Program (RPP)
| Type of entry | Project |
|---|---|
| Date (start - end) | 01.12.2014 - 30.06.2019 |
| Scheduled status | Completed |
| Areas of intervention | |
| Sectors |
24010 - Financial policy and administrative management |
| Locations |
Albania Bosnia and Herzegovina Republic of North Macedonia Serbia Kosovo* |
| Donors |
State Secretariat for Economic Affairs (SECO)
State Secretariat for Economic Affairs (SECO) Holzikofenweg 36 0041 58 462 56 56 |
| Implementers |
World Bank Group |
| Beneficiaries |
Albania Bosnia and Herzegovina Kosovo* Moldova Serbia Republic of North Macedonia |
| Description | The Remittances and Payments Program (RPP) aims to make the transfer of remittances (i.e. the money that is sent home by migrants) cheaper, safer and more convenient. This will result in an increase of the available resources for migrants and their families and in an increased usage of formal transfer channels and basic financial services. Today, the transfer of remittances is often inefficient, costly and intransparent. Inadequate legal and regulatory frameworks are at the heart of many of these problems. Also inefficient payments systems infrastructures often cause excessive costs. This program provides technical assistance to SECO partner countries in order to deal with these issues and to promote private sector solutions and new products for remittances transfers. Remittances are also used as a vector for extending basic financial services to populations that were formerly "unbanked". |
* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence