The International Fund for Agricultural Development (IFAD), through its Financing Facility for Remittances (FFR), has launched a new call for proposals aimed at mobilizing remittances and investments from the Senegalese diaspora in Italy to support rural development in Senegal. This initiative is part of the Diaspora RemitInvest programme, financed by Italian cooperation via the Italian Agency for Development Cooperation (AICS), and seeks to channel diaspora resources into rural transformation, job creation, and financial inclusion.
Remittances play a vital role in Senegal’s economy, amounting to over USD 3 billion annually, or about 10% of GDP. Italy is a key remittance corridor, with flows estimated at EUR 310 million in 2025, representing roughly 10% of Senegal’s total remittances. With a diaspora community of around 130,000 people in Italy, the programme aims to harness these resources for productive investments in rural areas.
The call for proposals invites private sector actors—including financial institutions, fintech companies, SMEs, NGOs, and investment funds—to develop innovative solutions that expand access to digital remittance services and strengthen financial inclusion. Partnerships with Senegalese diaspora organizations in Italy are strongly encouraged, and all projects must adopt a gender‑inclusive approach.
Three to five high‑potential projects will be selected for grant financing, supplemented by co‑financing from sponsors to ensure scale and sustainability. These projects will target remittance‑receiving households and diaspora members, focusing on regions with high migration rates. By integrating digital remittances with financial and non‑financial services, the initiatives aim to stimulate entrepreneurship, create jobs, and channel investment into rural enterprises and SMEs.
Ultimately, the programme seeks to transform remittances from a lifeline into a catalyst for rural economic growth, helping families save, invest, and manage risks while fostering sustainable development in Senegal.
