The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Banks can help to alleviate the refugee crisis

Humanitarian crises are emerging market issues and local banks are the best way to distribute aid. Banks should make it easier and cheaper to get funds to them.

refugee_780

According to recent data compiled by the UNHCR, there are 40 million internally displaced people in the world. Add to this another 25.4 million refugees and 3.1 million asylum seekers and that makes 68.5 million forcibly displaced people worldwide.

Some 85% of the world's displaced population are in developing countries. Of those categorized as refugees, 57% come from three countries – South Sudan, Afghanistan and Syria. The top refugee hosting countries change frequently, but the top two countries are usually Turkey and Uganda.

Turkey is the gateway to Europe for many refugees fleeing conflict in the Middle East and north Africa. Uganda is generally considered a safe haven for refugees in east Africa escaping strife in countries such as the Democratic Republic of Congo, South Sudan and even countries in the region that are considered safe such as Kenya and Rwanda.

Looking at recent humanitarian aid flows, the largest recipients are Syria, Yemen, Iraq, Palestine and South Sudan.

This is clearly an issue that affects emerging markets more than developed ones.

Distribution

As such, NGOs and other aid agencies need to be able to funnel international funds and resources set aside for refugees to these countries so that they can be distributed accordingly.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree