ADDIS ABABA, November 10, 2010—The World Bank chaired the first Technical Committee Meeting of the African Remittances Institute (ARI) Project at the World Bank’s country office in Addis Ababa, Ethiopia on Monday, October 25, 2010.
At this gathering, representatives of the African Union Commission (AUC), the European Commission (EC), the African Development Bank (AfDB), and the International Office for Migration (IOM) agreed on a roadmap for the implementation of the ARI project.
This Project, launched in June 2010, is a groundbreaking initiative in which the World Bank and its development partners are collaborating to support the African Union (AU) and its member states in leveraging remittances for development. The ARI Project will facilitate the process leading to creation of the African Remittances Institute (ARI), a first of its kind institute in Africa. It will simultaneously build capacity of the Member States of the African Union, remittance senders, recipients, and other stakeholders to develop and implement concrete strategies and operational instruments to use remittances as development tools for poverty reduction.