Capacity Building for Strengthening Diaspora Resource Mobilisation and Utilisation
What is the project about?
That diaspora remittances topped $879.4m in the financial year 2011/2012, higher than coffee at $466.6m, shows just how much a huge contribution they make to Uganda’s economy.
Despite this, the government has not put in place any mechanism to capture these contributions and provide support for Ugandans in the diaspora to encourage them to invest back home. UNDP is therefore working with the Ministry of Foreign Affairs, Bank of Uganda and Uganda Investment Authority, capture these contributions and provide ways in which those in the diaspora can continue to contribute to national development.
The Objectives of the programme include;
- Developing policy and institutional arrangements for guiding diaspora participation and contribution to national development.
- Strengthening the Ministry of Foreign Affairs (MoFA) information and management systems for greater coordination and strategic partnerships with the Diaspora.
- Enhancing incentives for Diaspora investments and remittances as well as identifying opportunities for national development so as to guide Diaspora investment.
- Already, the project is working with MOFA on a Diaspora policy, and has supported the creation of linkages among sections of Uganda’s Diaspora around the world. It has also helped in the set up of the Diaspora bond which Ugandans in the Diaspora can invest in as part of their contribution to the economy.
The project has achieved the following outputs;
- A National Diaspora Policy for Uganda has been developed and is being considered by the Cabinet.
- A review of Uganda's Foreign Policy has been undertaken and is being considered for final adaption.
- A feasibility study for the establishment of the Uganda Institute for Diplomacy and International Affairs has been completed.
- An institutional study was also done to access the feasibility of a diaspora bond for the Ugandans abroad.
- A compendium on business and investment opportunities for the Ugandan diaspora has been developed, published and disseminated.
This project is funded by UNDP through its core resources to a tune of USD 1,060,500.