ICT could help empower migrant workers

Multiple initiatives to empower the migrant worker community economically is vital, said Project Director, Hatton National Bank, Chandula Abeywickrema at the Global Forum on Remittances 2013, in Bangkok.

He said migrant worker remittances have a major impact on the global economy and added that 1.5 trillion workers from developing countries will move across for work within the next five years. It is vital that all stakeholders, including government regulators, banks and financial institutions create a more efficient and affordable framework taking advantage of the emerging Information Communication Technology (ICT) to empower the near 400 million migrant worker community across the world, who are mainly from the rural areas of the developing world.

He said that multiple stakeholders are working to economically enrich and empower the migrant workers and their dependents to come out of their cycle of poverty with sustainable economic and livelihood development opportunities by creating a platform of opportunities for migrant workers and their dependents to become micro and small level entrepreneurs.

Towards this, a greater collaboration between the public and the private sector, particularly banks and the financial institutions is necessary. They should develop infrastructure and capacity to make financial services available, accessible and affordable to the migrant worker community and create the linkages and partnerships with the corporate sector for value chain opportunities.