Business Daily reports:
Kenya is to launch a diaspora bond to help it direct the increasing amount of remittances to development projects and act as a source of cheaper credit to the Government...The financial instrument to be developed will enable the Central Bank to use remittances as collateral for bond issues and loan securitisation.
...Dilip Ratha(covered earlier), senior economist responsible for migration and remittances at the World Bank told Business Daily that no African country has yet issued a diaspora bond, except Ghana which has recently announced a saving scheme that has elements of a diaspora bond.
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