Bucharest – IOM, the UN Migration Agency, has launched an innovative partnership with Mastercard to support migrants and refugees in building a better life in Romania.   

The collaboration between IOM and Mastercard will provide financial education for vulnerable groups and lead to the development of tailor-made financial products for migrants and refugees.  

“We are confident that this partnership and support can empower migrants and refugees to become contributors to their host communities, which brings not only economic benefits for all, but also improves integration and social cohesion,” said Mircea Mocanu, Head of IOM’s Office in Romania. 

Mocanu explained that successful integration must be a two-way process where migrants, refugees and the local community understand one another’s needs, expectations, practices and cultural differences. 

“Involving the private sector in supporting integration is the next step in this holistic approach, and moreover, it opens a path for improved awareness on migration issues,” added Mocanu.  

The first joint IOM-Mastercard initiative, launched last week, features the delivery of non-reimbursable financial support and incentives through pre-paid cards. Maintenance of the cards is cost-free for the beneficiaries and can be used for any purchase, whilst also allowing for certain restrictions as required by national legislation, donor conditions or IOM practices.  

The partnership was also designed to provide financial education to help migrants and refugees independently manage their material assistance and family resources. These sessions will be provided free of charge weekly at the Migrant Integration Centre coordinated by IOM.   

IOM Romania prioritises vulnerable groups, including children and women and persons with special needs, in delivering personalised assistance.  

Together with Mastercard’s country office in Romania, IOM continues its efforts to meet the operational challenges of migration and encourage social and economic development through migration, while ensuring the well-being of migrants. 

Mastercard is a leading international payment systems company, providing its customers in Europe and worldwide with a full range of personal electronic payment products.  

For further information, please contact Diana Dragos at IOM Romania, Tel: +4021 210 30 50, Email: ddragos@iom.int.