Investing in people - Good practices by banks and credit institutions for the integration of migrants and refugees is a project geared to contribute to the economic and social integration of migrants and refugees. The overall objective was to promote better economic integration of these groups through improvement of their access to banking and credit services, especially credit for economic activities and for acquiring assets (houses). Specifically, it seeked to identify and disseminate good practices in the sector targeting migrants and refugees, through a trans-national partnership and a national network of service providers, migrant clients and other stakeholders (local authorities, migrants’ organisations, NGOs and social partners).
Project Goal
Both in EU countries that have a long history of immigration from third countries and those that have only recently been going through it, the number of small enterprises owned and managed by migrant and/or refugee entrepreneurs seems to be growing. This has been put in relation to the difficulties encountered in the labour market that result in higher unemployment rate or precarious employment, or, further, the unskilled occupations which many of them are compelled to accept. In countries where self-employment by migrants is old, it has been observed that the size of enterprises owned by migrants tends to remain small scale and labour intensive, employing mainly family workforce. Among the reasons put forward to explain this trend is the difficulty such enterprises encounter in having access to credit facilities that will enable them to get over the family dimension and aim to serve bigger markets or provide services at a higher level, in quantitative and qualitative terms. INVIP addresses the problem of access to banking and credit services, on equitable terms, encountered by migrants / refugees. Part of these problems are often said to be due to migrants not meeting the guarantees required by financial / credit institutions. Some local experiences in some countries have shown that some of these constraints can be offset through initiatives by public authorities and civil society actors. By bringing together these different actors - services providers, migrant clients, NGOs, local authorities and social partners -, the project aimed to identify shared solutions that can pave the way to better integration.
Who benefits
Beneficiaries have been migrants and refugees who used banking and credit services with difficulty in the 5 member states. Furthermore, the project has been particularly addressed to migrant women, to promote a gender equality and to implement an integration process in which women are economically active subjects. Banks and credit institutions also benefited from the project, albeit indirectly. Local authorities in particular regional and provincial levels, manufacturers organisation, trade unions, NGOs and migrants associations have been involved as stakeholder groups all phases of the project.
How it works
- Mapping and analysis of needs and difficulties of access to banking and credit services for migrants and refugees and constraints on banks etc. in offering better services to the former. Mapping and analysis of the current good practices on these issues by banks and other credit institutions that can promote economic and social integration. The research also provides a review of existing literature and experiences on the subject.
- Three national workshops of key stakeholders aimed at the identification of good practices in each country partner.
- Trans-national workshops (one in each partner country) to exchange informations and experiences between project partners. In particular, the activities carried out in each partner country have been reported and discussed in the trans-national meetings.
- Publication of an European guide on good practices in the sector. For a wider dissemination of the guide, it has been published in English and in the national languages of each organisation and it contains a description of the project and all national and trans-national outputs (national studies and European guide).
- International concluding conference in which project results are presented. Both national and trans-national workshops adopted a participative methodology and a problem solving approach. The national workshops have been held with an active participation of migrants’ organisations, which have a direct and specific knowledge of the problems to be addressed and which contributed to identify the most appropriate solutions.
Results
Obtained results are: about 5000 more migrants / refugees in all partner countries improved access to credit services for economic activities and for acquiring assets (houses) within the first year from end of project; banks, other credit institutions, public authorities, NGOs etc. have a better awareness and attention to the specific needs and constraints encountered by migrants and refugees in the sector; migrants acquired a better knowledge and information on the opportunities of access to credit and banking services. A trans-national guide on good practices in the sector have been be published and printed in 3700 copies EU-wide distribution.
Evaluation
One of the potential risks is that big banks, credit and insurance institutions (those that operate at national and international levels) that do not have an explicit policy of corporate social responsibility may not appreciate adequately the potential benefits of engaging in discussions and exchanges with other stakeholders on this subject. One favourable factor is that the development of new services by one institution in the sector could stimulate others to follow by offering similar and more competitive products. This project produced a positive impact on the capacity of migrants and refugees to start and manage viable small and medium scale businesses, thereby contributing to the reduction of unemployment amongst them.
Funding and resources
European Commission- INTI 2006 Levi-Strauss Foundation
About this good practice
- Project dates
- -
- Geographic area
- Italy
- City
- Florence
- Organisation
- Cospe
Details
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