ABOUT THIS WEB PAGE

It has been widely accepted that migrant remittances have been a major factor in the financial survival of the country. When comparing the percentage of emigrant remittances weighted against GDP, Albania is placed firmly at the top of the list of 20 emigration countries. Emigrants’ savings present an important potential pool of funds that can, as with other forms of Foreign Direct Investment (FDI), be transferred through formal channels and mobilized for the development of Albania.

Previous studies carried out by the International Organization for Migration in Albania, have shown a widespread lack of knowledge about the financial market, its institutions and regulations. Equally, popular understanding of government policy and actions with regard to remittance related issues such as savings channels, investment opportunities, incentives and disincentives is to all intents and purposes non-existent.

In the framework of the project “Enhancing the impact of migrant remittances in Albania: Creating an integrated migrant remittance system”, funded by the Italian Ministry of Foreign Affairs, in line with the implementation of the National Strategy for Migration and National Working Plan for Migration,  IOM  has initiated a Public Information Campaign to address this gap. The campaign is  based on market research and information directly relevant to the challenge of remittance management and will be carried out through various information dissemination channels, in cooperation with emigrant associations, Albanian consulates abroad and line-ministries, in order to target Albanian migrants and their families.

As a mechanism of the campaign, this web page is intended to provide users with an overview of the role of migration and remittances in the development of Albania, with an emphasis on market research regarding financial products, the banking system and its services, as well as opportunities to invest in Albania.  It includes an introduction of the remittance project, its components, publications and activities. Additionally it will serve as an information resource for entrepreneurs, students and migrants to understand how best to make use of remittances.