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Migration: a solution, not a problem

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By Michele Klein Solomon

It is common knowledge that social, political, economic and environmental challenges in Latin America and the Caribbean push people to migrate. However, it is less well known that the potential of migration itself can serve to address these same challenges collectively and constructively. Migration should not be seen as a problem, nor as a simple movement of people: Migration is a powerful force that can drive the development of societies and economies, and Central America, North America and Caribbean is proof of it.

Migration is an accelerator of inclusive growth and sustainable development, enriching societies through human, socio-economic and cultural capacities. When it comes to economic growth, data shows that in the Latin American and Caribbean region, countries that have received the largest migration flows would increase by 0.10 to 0.25 per cent per year of GDP between 2017 and 2030. A study in 2020 by the International Monetary Fund supports this prediction, showing that every additional 1% of immigration has the potential to boost GDP growth by 2% in destination countries.

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Migrant remittances are a lifeline for their families and communities. According to the World Bank, remittances considerably exceed official development aid, and are at least equal to or more than ODA plus foreign direct investment combined. For Latin America and the Caribbean, remittances have doubled from USD 73 billion in 2016 to USD 145 billion in 2022.

Migrants drive economic development, filling gaps in labour demand, creating new avenues for business and fostering trade connections between their countries of origin, transit and destination. They also enrich host economies by bringing diverse skills, facilitating knowledge sharing and helping to reduce trade costs. The innovative skills that migrants possess and their ability to integrate into local business networks can significantly influence trade dynamics between countries and regions.

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The transformative potential of migration stretches beyond the economic sphere. Migrants teach new knowledge and skills to their community, which translates into greater productivity, innovation, and growth. This is crucial when it comes to solutions for large scale issues like climate change.

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Although collective action is necessary, individuals can also be agents of change for their communities and societies and can help create opportunities for progress. Many migrants work in key sectors such as agriculture, health, education, and tourism. All these individuals have the power to exert an immediate, positive impact on their host communities as well as their countries of origin.

The extent to which migrants can contribute to development is directly linked to their ability to access services, integrate into society, and stay connected with their communities of origin. This is why we must focus our efforts on creating conditions in which migration is a choice rather than a necessity, takes place along safe and regular channels, and acts as a catalyst for development.

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International Migrants Day is celebrated every year on 18 December. Let’s use this date to celebrate migration not just as a journey of people, but as a journey towards a prosperous and interconnected world. Well-managed migration is key to sustainable development, prosperity and progress. This day is an opportunity to act today, individually and collectively, to build a better tomorrow, using migration as part of the solution.

Michele Klein Solomon is IOM Regional Director for Central America, North America and the Caribbean

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One response to “Migration: a solution, not a problem”

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]