{"id":44476,"date":"2022-08-15T11:32:49","date_gmt":"2022-08-15T15:32:49","guid":{"rendered":"https:\/\/fgmtl.org\/?p=32155"},"modified":"2022-08-15T11:32:49","modified_gmt":"2022-08-15T15:32:49","slug":"cross-border-philanthropy-its-big-money","status":"publish","type":"post","link":"https:\/\/2021.fgmtl.org\/staging\/en\/cross-border-philanthropy-its-big-money\/","title":{"rendered":"Cross-border philanthropy: it\u2019s big money"},"content":{"rendered":"<h4>A word from FGM, August 2022<\/h4>\n<p>In 2022, according to the World Bank, about 630 billion U.S. dollars<a href=\"#_ftn1\" name=\"_ftnref1\">[1]<\/a> will be transferred by members of various diasporas across the planet back to their countries of origin. If that estimate turns out to be accurate, this cross-border aggregate will have made a 30% leap just since 2018. That year, in Canada, these monetary transfers totalled nearly 25B$, which is more than five times the amount of foreign aid allocated by Canada to foreign countries<a href=\"#_ftn2\" name=\"_ftnref2\">[2]<\/a>.<\/p>\n<p>In fact, in terms of financial flows to other countries, Canada ranks, depending on the measurement, third in the world (in dollars) or fourth (in percentage of gross national income). Therefore, we are talking about a substantial economic activity with a large impact. These amounts are often, as well, a significant part of GDP for the recipient countries. The World Bank estimates for example that in 2022, 54% of Lebanon\u2019s economy will be sustained by transfers coming from abroad. Elsewhere, in Central Asia and Sub-Saharan Africa in particular, this proportion can reach a quarter or even a third of GDP.<a href=\"#_ftn3\" name=\"_ftnref3\">[3]<\/a><\/p>\n<p>Of course, the bulk of these amounts is directed to the families and loved ones of those who have emigrated, to bolster their incomes and help them provide for essential needs. Nonetheless, we are also talking about a type of philanthropy here, one that indirectly funds \u2013 more often than we realize \u2013 health, education or community and social development services in the recipient countries. One way or another, these funds ultimately help meet a multitude of societal challenges, both locally and globally. And this is happening more and more often.<\/p>\n<h5>A culture of giving in evolution<\/h5>\n<p>Many researchers say these financial flows \u2013 which correspond to migratory flows around the world \u2013 will continue to steadily increase. New technologies make such exchanges much easier and cheaper than they were just a few decades ago. As well, in most of the wealthy countries where the members of these diasporas have settled, buying power and disposable income tend to increase over time. Last but not least, new types of organizations and updated giving structures have come into being, often driven by young people and second-generation immigrants. These vehicles blend their creators\u2019 desire to help and their know-how with a culture of giving passed down by their parents and their communities of origin.<\/p>\n<p>We also know, thanks to a recent survey carried out by the firm \u00c9pisode, that the percentage of immigrants who make donations in Canada equals that of native Canadians, and that their average annual gifts are actually higher<a href=\"#_ftn4\" name=\"_ftnref4\">[4]<\/a>.\u00a0Despite that, their contributions are often overlooked. Why is that?<\/p>\n<p><em>Read the next part of this post, \u00ab\u00a0<a href=\"https:\/\/fgmtl.org\/en\/news\/blog-post\/rethinking-philanthropy-within-racialized-communities\/\">Rethinking philanthropy within racialized communities<\/a>\u00ab\u00a0.<\/em><\/p>\n<h5>Linda Tchomb\u00e9<br \/>\nDirector of Philanthropic Development<br \/>\nFoundation of Greater Montr\u00e9al<\/h5>\n<div class=\"su-spacer\" style=\"height:20px\"><\/div>\n<p><a href=\"#_ftnref1\" name=\"_ftn1\">[1]<\/a> <a href=\"https:\/\/www.knomad.org\/publication\/migration-and-development-brief-36\">Migration and Development Brief #36<\/a>, World Bank Group, May 2022.<br \/>\n<a href=\"#_ftn2\" name=\"_ftnref2\">[2]<\/a><a href=\"https:\/\/scholarworks.iupui.edu\/bitstream\/handle\/1805\/24143\/GPT_executive_summary_2020.pdf\"> Global Philanthropy Tracker<\/a>, Indiana University Lilly Family School of Philanthropy, 2020.<br \/>\n<a href=\"#_ftn3\" name=\"_ftnref3\">[3]<\/a><a href=\"#_ftnref2\" name=\"_ftn2\"><\/a>\u00a0<a href=\"https:\/\/www.knomad.org\/publication\/migration-and-development-brief-36\">Migration and Development Brief #36<\/a>, World Bank Group, May 2022.<br \/>\n<a href=\"#_ftn4\" name=\"_ftnref4\">[4] <\/a><a href=\"https:\/\/www.tendancesphilanthropie.ca\/\">Mise au point philanthropique au Qu\u00e9bec<\/a>, \u00c9pisode philanthropie &amp; investissement communautaire, 2021.<a href=\"#_ftnref3\" name=\"_ftn3\"><\/a><\/p>\n<div class=\"su-spacer\" style=\"height:20px\"><\/div>\n[scWrapperDark]\n<h3>FGM&rsquo;s Stories of the Month<\/h3>\n<h4><em>August 2022<\/em><\/h4>\n[scNewWrapperTrio ]\n[scSubBlockTrio bgimg=\u00a0\u00bb\/wp-content\/uploads\/2022\/07\/StockSnap_FLI26W5VXU-scaled.jpg\u00a0\u00bb]\n<h4>Rethinking philanthropy within racialized communities<\/h4>\n<p>Read the next part of this post from the Foundation&rsquo;s Director of Philanthropic Development, Linda Tchomb\u00e9, to learn more about philanthropy within immigrant and racialized communities.<\/p>\n<p><span class=\"cta full red cta-page\"><a href=\"https:\/\/fgmtl.org\/en\/news\/blog-post\/rethinking-philanthropy-within-racialized-communities\/\" target=\"_blank\" rel=\"noopener\">Read on<\/a><\/span><\/p>\n[\/scSubBlockTrio]\n[scSubBlockTrio bgimg=\u00a0\u00bb\/wp-content\/uploads\/2021\/01\/IMG_0870-scaled-e1610984473455.jpg\u00a0\u00bb]\n<h4>The Fonds de p\u00e9rennit\u00e9 Nouvel Horizon de Duverger<\/h4>\n<p>The Fonds de p\u00e9rennit\u00e9 Nouvel Horizon de Duverger aims to ensure stable, long-term funding for a school\u2019s operating costs, but also literacy efforts that benefit an entire community.<\/p>\n<p><span class=\"cta full red cta-page\"><a href=\"https:\/\/fgmtl.org\/en\/our-impact\/stories-that-inspire\/the-fonds-de-perennite-nouvel-horizon-de-duverger\/\" target=\"_blank\" rel=\"noopener\">Read on<\/a><\/span><\/p>\n[\/scSubBlockTrio]\n[scSubBlockTrio bgimg=\u00a0\u00bb\/wp-content\/uploads\/2022\/07\/Fonds-Heritage-afro-canadien-1.png\u00a0\u00bb]\n<h4>The H\u0115ritage Afro-Canada 2024 Fund<\/h4>\n<p>The H\u0115ritage Afro Canada 2024 Fund was created at FGM in 2021 in support of the construction of an inclusive space in Montreal dedicated to the cultural expression of Black communities while fostering constructive intercultural dialogue.<\/p>\n<p><span class=\"cta full red cta-page\"><a href=\"https:\/\/fgmtl.org\/en\/our-impact\/stories-that-inspire\/heritage-afro-canada-2024-fund\/\" target=\"_blank\" rel=\"noopener\">Read on<\/a><\/span><\/p>\n[\/scSubBlockTrio]\n[\/scNewWrapperTrio]\n[\/scWrapperDark]\n","protected":false},"excerpt":{"rendered":"<p>New types of organizations and updated giving structures have come into being, often driven by young people and second-generation immigrants.<\/p>\n","protected":false},"author":12,"featured_media":32138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,28],"tags":[],"class_list":["post-44476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nouvelles","category-billet-de-blogue"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - 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