The National Diaspora Collaborative Fund
There is a need among expatriates to give back to their home country in a structured and sustainable way. Many of them are embedded in their host country and feel embarrassed when asked about contributing to the development of their area of origin, because they do not know how to do it in an effective way. Giving away money to small local foundations is not effective and sustainable. They need to stay active while helping, to have control on their money and on the projects they invest on.
With the development of internet and the impact investing, I see an opportunity to leverage these tools in order to reach the immigrants and help them contribute in developing their home country in a constructive and sustainable way. A National Diaspora Collaborative Fund both highly motivates and efficiently attracts people who are originally from the concerned country and that knows better about the local issues and the national interests. It leverages the financial support of these enthusiastic communities that are willing to contribute to a fund by nationals to nationals.
If we take the example of Tunisia, Tunisian expatriates across would be able to contribute to a national diaspora fund through a dedicated website. These contributions will not be “lost”, but will be invested to form a sustainable asset. Only the return on investment will be donated or invested in development and S&ME projects in Tunisia. The website will present selected projects that will be approved or voted by the contributors. It will therefore be a mix of an impact investing fund and social networking that will enable nationals to take control of their financial contributions to their home country.
Of course, there will be a lot to do in order to promote the initiative, raise significant amount of money and fix all the legal details that go with it, but the project will soon be started and I cannot wait to read your comments and expression of interests!
A proposal draft is available here