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LEVERAGING THE USE OF REMITTANCE FOR DEVELOPMENT The Case of ASKI Global Limited By: Irma Cosico - CEO

352 Tanglin Road Units 01-03 &04Tanglin International CentreStrathmore BlockSingapore 247671

3F SPA Centre 55 Lockhart Road Wan ChaiHong Kong

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2-Corridor Partnership

Training Cross Border

Access to Financial Microfinancing Products & Services

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Cross Border Microfinancing Program

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ASKI’s Experience in Leveraging Remittance

establishment of family enterprises with credit assistance from MFIs in home country

reduces over-indebtedness on migrantworkers’ families

increases the propensity to save and invest by migrant workers’ families

reduces the propensity to spend by migrantworkers

ensures high repayment rate for participating MFIs

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Challenges acceptance and adoption of a customizedmicrofinance program for migrant workers

adoption of back to back training of migrantworkers (in the destination country) and theirfamilies (by the MFIs in home country)

designing of new financial products for migrantWorkers and providing information / access to these

use of mobile technology for easy access of information, tracking and monitoring by migrantworkers