Why did the prime minister's supporters, who recently filled the Capital One Arena in Washington DC to the brim, not heed his repeated calls to invest in the diaspora bond
The Diaspora Bond
has attracted only 600 expatriates, collecting $26 million only.
Another way to maximise the power of remittances is to encourage migrant workers to invest in their home countries in a more formal way, such as through a diaspora bond
. If a 10th of savings of Pakistan's overseas workers could be mobilised, that could bring in the much-needed additional billions for development finance.
Similarly government launched another scheme 'Pakistan Banao Certificate' to generate $ 3 billion, in fact is diaspora bond
. Diaspora bond
is issued by a country to its non-residents overseas citizens with the purpose to raise inexpensive money to support the mother country in bad times.
Nigeria needs a Diaspora bond
of at least half of the 2017 remittances to execute capital projects.
The Pakistanis living abroad are estimated to possess potential income of $50bn out of which $20bn are sent back as annual remittances, and it will be hard for all the 9mn overseas workers to provide $1,000 as donation for the construction of dams besides simultaneously investing in the upcoming Pakistani Diaspora bond
. Pakistan requires over $14.6bn for the construction of Diamer Basha Dam which cannot be built through donations alone.
The Africa Foresight report which was unveiled for the first time proposed blended finance, big bond and diaspora bond
as a way the continent can source funding for economic growth.
The Nigerian government has announced the appointment of two firms, Stanbic IBTC bank and Goldman Sachs, as advisers for the debut US$100 million Diaspora Bond
issue, according to local media reports on Wednesday.
Diaspora investments take various forms--from direct investment to the purchase of diaspora bond
("a retail saving instrument marketed only to migrants").
The board was also planned to discuss PM's Naya Pakistan Housing Programme, the tourism initiative and Pakistan Diaspora Bond
. The revitalisation plan of the SEZs and prioritised SEZs being planned under the China-Pakistan Economic Corridor (CPEC) were also on the meeting agenda.
Since trust on this government is high, I'm sure this diaspora bond
will be very popular and famous among overseas Pakistanis."
Sources informed that government also is considering launching a Pakistan Diaspora Bond
and Eurobond in next couple of months to generate around $2-$3 billion.