Elements of Innovation

  • Diaspora Engagement
  • Social Cohesion and Community Participation
  • Regular Pathways

What is the project about?

Sri Lanka's economic challenges were profoundly exacerbated by reduced expatriate remittances during the COVID-19 pandemic. Vis-à-vis this situation, the initiative was launched to enhance economic resilience by focusing on two key aspects: boosting remittance inflows and optimizing public sector expenditures.

The project's main objective is to enhance the employability of potential migrant workers, particularly those in the government sector. Through a gender-sensitive and rights-based approach, the project offers essential end-to-end services for key destination markets, facilitating outbound migration and contributing to increased remittance flows. These efforts align with the government's reform measures and provide a solution for immediate financial relief. By strategically reducing public sector salary expenditures and augmenting remittance flows, the project reduces account deficits, enhances foreign exchange liquidity, decreases unemployment rates, and ushers in a path towards economic recovery.

How is the project innovative?

The project showcases innovation through its approach to addressing Sri Lanka's pressing economic challenges. Unlike more traditional responses to remittance declines, this initiative offers a comprehensive strategy that encompasses two key aspects: enhancing remittance inflows while optimizing public sector expenditures.

By empowering potential migrant workers within the government sector, which are not usually targeted by these types of initiatives, the project introduces a dynamic solution that not only addresses the immediate crisis but also paves the way for a transformed economic landscape in Sri Lanka, fostering sustainable growth and improved well-being for its citizens. The dual impact on economic advancement and skill enhancement underscores the project's progressive nature. The project's comprehensive approach, its balanced consideration of economic and workforce factors, and its dedication to inclusivity collectively position it as an innovative endeavor.

 

PROJECT INFORMATION
IOM MISSION: Sri Lanka
YEAR: 2022
FUNDS: 300,000 USD
BENEFITTING COUNTRIES: Sri Lanka
PROJECT DURATION: 24 months
PRIMA CODE: LM.0494