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Sharing is Caring: The Vital Role of Remittances for the Diaspora in Belgium
Brussels, Belgium — “In Senegal, the Wolof concept of ‘teranga’ refers to good hospitality, which is considered to be one of our most prized possessions,” migrant researcher Khady-Lyne explains at an event organized by the International Organization for Migration (IOM) for the diaspora in Belgium.
“Remittances are part of that: they represent a way of thanking the people that we left behind and a way of keeping an identity alive.”
The practice of remitting has grown exponentially over the past two decades, with governments now increasingly acknowledging the importance of remittances for development.
Remittances became particularly important during the COVID-19 pandemic when international remittance flows to low- and middle-income countries showed resilience and the potential to be a driver of change for development and economic growth.
According to the World Bank, in 2020, Belgium had a calculated remittance outflow of 6.4 billion euros, making it one of the biggest sending countries per capita in Europe.
The National Bank of Belgium (NBB) reports that Morocco, Romania and Türkiye remain the most important corridors receiving remittances from Belgium, taking into account both incoming and outgoing money transfer flows.
However, despite the international importance and ever-growing attention to remittance behaviour, the cost of sending funds across international borders remains high, averaging at 6.4 per cent of the amount transferred — a much higher figure than the Sustainable Development Goal (SDG) threshold of less than 3 percent.
Maureen from Owerri, Imo State, in Nigeria, and Honourine from Limbe, Cameroon, were two of the participants. Photo: IOM/Moayad Zaghdani
With that in mind, IOM Belgium and Luxembourg has recently launched O-REMIT, a two-year project which offers cost-effective options for remittances and opportunities for investment of savings.
The initiative aims to better understand the remittance flows and behaviour of the diaspora in Belgium and make remit senders in Belgium and remit receivers in the Democratic Republic of Congo, Morocco, and Senegal aware of different remit options. Moreover, it hopes to offer the diaspora the opportunity to use savings for investments within the economies of their countries of origin.
To promote the project and further strengthen its relationship with the diaspora, IOM recently hosted an event in honour of the International Day of Family Remittances at the Migratie Museum Migration in Brussels.
“The remittances sent from Ukrainians abroad to Ukraine were one of the reasons the country has survived this past year,” said Olga, another panellist during the event. Olga moved from Chernihiv, Ukraine, a few years ago and has since launched her own NGO to support Ukrainians back home.
“Remittances have become part of our national resilience,” Olga explains.
“This resource has been used by many to feed their neighbours, deliver aid on the frontline, and help those who have lost their homes to the conflict.”
Given the little available research and data on remittances and contributions by diasporas, the O-REMIT project aims to fill the gap through quantitative and qualitative data collection efforts. These insights will support the team to develop innovative campaigns and workshops on remitting options and behaviour.
IOM has also begun to engage diaspora members from Morocco, Senegal and the Democratic Republic of the Congo to participate in investment trainings so that they can acquire the skills needed to use their savings to invest in small and medium-sized green enterprises in their countries of origin.
By strengthening technical support for migrants and the diaspora, the initiative plans to maximize the contributions that diaspora members make to the financial, economic, human, and cultural development of both their home and host countries.
“There is no national development without national culture,” Khady-Lyne explains. “Remittances are based on kindship and on friendship, so we need to look at culture through a hospitality lens.”
(Left) Bora is originally from Goma, DR Congo. (Right) Chaimaa is originally from Tinghir, Morocco. Photo: IOM/Moayad Zaghdani
IOM’s O-REMIT (Offer Cost-Effective Alternatives for Remittances and Opportunities for Investment of Savings) project is funded by the Federal Government of Belgium and implemented with support from the NGO Entrepreneurs for Entrepreneurs (OVO), the NBB, Belgium’s Diaspora Advisory Board, and global incubator for African diaspora, Zidicircle.
IOM Belgium and Luxembourg is conducting a study on the motivations and behaviour of people living in Belgium who are sending or bringing money to their country of origin. Do you want to help us reduce the costs of sending money to your country of origin? Fill out the survey on remittances.
To learn more about the project, please visit the O-REMIT website.
