CONCEPT NOTE     - Development Without Borders: Leveraging the African Diaspora for Inclusive
Coherent Identifier About this item: 20.500.12592/ndk19x

CONCEPT NOTE - Development Without Borders: Leveraging the African Diaspora for Inclusive

2 December 2022

Summary

How can the power of the African Diaspora be leveraged for Africa’s inclusive and sustainable development? Can the Diaspora be a vehicle for transferring the much-needed human, economic, social, and technological transfer in their home countries, thereby contributing to sustainable economic development? To explore the policy issues and questions on the potential role of the African Diaspora in pro. [...] Some of the factors for the limited success include the high cost of remittances, the perception of sovereign and foreign currency risk, the capacity to deal with technical or bureaucratic requirements for promoting diaspora bonds abroad, and the financial deepening of the recipient country’s economy. [...] Recent studies point to the presence of significant diaspora externalities in the transfer of knowledge and technology and in, the diffusion of democratic values and social and cultural norms and the improvement of political institutions in the countries of originxviii xix. [...] All the physical convenings in the multiple cities and partner institutions in different countries will be livestreamed to the physical convening by the African Development Bank at its headquarters in Abidjan Cote d’Ivoire and by the African Union Commission at its headquarters in Addis Ababa, Ethiopia, respectively. [...] The outcome of the dialogue will be policy briefs synthesizing key strategic pillars of actions and instruments critical for the Bank’s engagement with the African diaspora and policy responses of the Bank’s Regional Member Countries to the African Diaspora to accelerate inclusive growth, sustainable development, and Agenda 2063 in Africa.

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