OVERSEAS FILIPINOS REMITTANCES FOR DEVELOPMENT (OF-RED)
The Overseas Filipinos Remittances for Development Project: Building a Future Back Home (OF-ReD Project) is spearheaded by the United Nations Development Program (UNDP) under its Poverty Reduction and Support to the Millennium Development Goals and sponsored by Western Union’s philanthropy arm – The Western Union Foundation (WUF). The project addresses the goal of harnessing the potential of overseas remittances for poverty reduction and, consequently, local economic development (LED). It aims to support policies that transform overseas remittances for development, savings and investments, and build up a viable collective remittance fund.
Its major activities include policy dialogue and assessment of government remittance-related policies, build up a viable collective remittance fund, awareness campaign on collective remittance models, and pilot implementation of a collective remittance model in Taguig and Ilocos Norte. The CFO, in partnership with NEDA-Social Development Staff (SDS), is implementing the project.