Bangladesh
International Development
Nick de Bois (Enfield North, Conservative)
To ask the Secretary of State for International Development
what the outcomes were of her Bangladesh Remittance and Payments
Partnership; and how the project was implemented in Bangladesh.
Alan Duncan (Minister of State, International Development; Rutland and Melton, Conservative)
The
Remittance and Payments Partnership programme, which ended in 2011, had
the objective of improving access to and reducing the cost of
remittances for the poor in Bangladesh. Key programme outcomes include:
Savings of $66 million by migrants in Saudi Arabia, UK and Singapore by bringing down the cost of formal remittance transfers.
Establishment
of the Bangladesh Automated Cheque Handling System that has resulted in
a reduction in the time required to deliver a remittance. 95% of
individuals surveyed received their remittances in less than 15 days, of
which 65% received them in less than seven days compared to 20-25 days.
Increased usage of formal remittance channels, reported to be at 90%.
Emerging
Markets Group implemented this programme in partnership with Bangladesh
Bank, International Organisation for Migration and Refugee and
Migratory Movements Research Unit.
