12/01/2021 Migration News Wage Earners Contribution to Rural Development of Bangladesh services, investment services, insurance, remittance transfer and various payment services. It is still remain a challenge to updates the migrants and families on authentic channel, process of remittance transfer and pros and cons of digital transactions. Information dissemination and providing counseling services for migrants on appropriate use of remittances and foreign earnings are limited at rural level. However, migrants rarely dispatches with referral support services of existing government institutions, regarding their financial investment, credit and savings. Therefore, the government with its lowest tier institutional setup called Union Digital Information Center (UDIC), followed by district level setup like: DEMOand TTC, could act as Resource Center and provide services including: counseling for remittance investment, provide referral and linkage support services (with PKB, other scheduled banks/FIs, MFIs, Cooperatives, WEWB etc.) and providing reintegration training. While return after the successful completion of service tenure, the migrants who are enriched with skills, experience, knowledge, and networks could become a potential resource for the home country. Therefore, the country could recognize these returnees’ experiences and skills by certifying them with RPL (Recognizing Prior Learning) and employ them at different public-private owned infrastructure development projects. However, for maximizing the benefits from producers to retailers, the government institutions required to facilitate the process of engagement of migrant investors in every tier of value chain of the respected enterprises. As majority of remittance recipients are female at rural areas, it should be a key concern to empower women through capacity building on remittance and income management, enterprise development, and bargaining skill development. For promoting and facilitating migrants and diaspora remittance earning investment in business and trade, the government needs to organize market place events or business fair, offer incentives for development of cooperative based local enterprises, offer share to invest in public-private shared industries i.e. manufacturing, construction, shipping, pharmaceutical, health care/ hospital, food processing etc. Meanwhile, the Wage Earners Welfare Board should stepped forward formulating synergic strategies with SME foundation to keep provision for migrants and diaspora investment and own business share. However, to encourage migrant workers invest in contributory provident fund from which they will get annual incentive benefits, the WEWB could leap forward to manage such provident fund, and incite migrants to invest in wage earners welfare bond. Apart from this, it is essential to allocate emergency and special social security funds for vulnerable and distressed migrants and families from government exchequer. https://migrationnewsbd.com/news/view/32315/54/Wage-Earners-Contribution-to-Rural-Development-of-Bangladesh 3/7

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