Remittances can help eradicate poverty and act as a catalyst for economic development in recipient countries, thus complementing both the UNCDF and ECCAS objectives. As the flow of migration and remittances are becoming more and more regional, it is important to enhance the regulatory framework of remittances that promotes the usage of digital channels at the regional level in a manner that balances innovation and risk. This will increase and fluidify these flows toward productive investment in health, education, and local businesses, thus contributing to the long-term development of countries around the world.
This is a diagnostic report for São Tomé and Príncipe as part of a wider project on harmonizing remittance policies in the Economic Community of Central African States (ECCAS) region, prepared by the United Nations Capital Development Fund (UNCDF) and the ECCAS Commission to improve the ECCAS countries’ current and ongoing policy and regulatory framework development and other initiatives relating to remittances.
