Ngozi Okonjo-Iweala and Dilip Ratha writing in NYTimes:
Africa needs not only greater investment in agriculture, but also in roads, ports and other facilities that are vital to moving the land’s products to consumers. Fortunately, part of the solution could lie with the almost 23 million African migrants around the globe, who together have an annual savings of more than $30 billion. Tapping into this money with so-called diaspora bonds could help provide Africa with the equipment and services it needs for long-term growth and poverty reduction.More here
These diaspora bonds would be in essence structured like any bonds on the market, but would be sold by governments, private companies and public-private partnerships to Africans living abroad. The bonds would be sold in small denominations, from $100 to $10,000, to individual investors or, in larger denominations, to institutional and foreign investors.
