REMITTANC - Regional Facility on Remittances and Savings

implementation

The Facility will increase access to and use of savings among LAC international remittances clients by developing financial products and services tailored to this population. The Facility will seek to achieve the following results: (i) at least 10 new savings products tailored to remittance clients will be developed; (ii) 250,000 remittance clients will open savings accounts; (iii) 100,000 remittance clients will use savings products, (iv) of the 250,000 remittance clients listed in point ii, an estimated 50,000 will open a formal savings account for the first time (i.e. previously unbanked); and (iv) at least 3 alternative distribution channels will be in place to facilitate remittance payments and the use of savings accounts. Each individual project may track additional results level indicators.