In 2009, the International Fund for Agriculture and Development announced its first call for proposals around the world for implementing innovative remittance systems in rural areas for increasing financial access for the poor people. The call was issued after successfully piloting a project under the Programme for Rural Development through Remittances in partnership with international bodies. Grants of up $250,000 were extended for projects around the world. The 2009 call for proposals was launched by IFAD in partnership with the European Commission, the Inter-American Development Bank (Multilateral Investment Fund), the Consultative Group to Assist the Poor, the Government of Luxembourg, the Ministry of Foreign Affairs and Cooperation, Spain and the United Nations Capital Development Fund.
The 2010 call for proposals on Promoting innovative remittance systems and investment channels for migrants under the Financial Facility Remittances (FFR) Programme has been announced by IFAD in partnership with he Consultative Group to Assist the Poor (CGAP), the European Commission (EC), the Government of Luxembourg, the Inter-American Development Bank (IDB), the Spanish Ministry of Foreign Affairs and Cooperation (MAE) and the United Nations Capital Development Fund (UNCDF).
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The FFR is a US $18 million multi-donor facility. It has been established for the purpose of increasing economic opportunities for the rural poor by supporting, developing and improving various innovative, cost-effective and easily accessible remittance services internationally as well domestically. FFR is working towards linking NGOs and nonprofit organizations with remittance systems and operators so that rural people in developing countries are able to use and apply tools and techniques that not only help them access remittances easily but also use them for sustainable development. In this context, a whole range of services and networks are integrated like private entities, banks, financial intermediaries, money transfer operators, microfinance institutions, financial cooperatives, non-financial institutions, postal networks and philanthropic organizations.
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