Cross-border loan solutions for refugees

 UNHCR/Chris Young
UNHCR/Chris Young

Through this project, the United Nations High Commissioner for Refugees (UNHCR) will partner with the private sector to create a financial mechanism for transborder loans.

What is the humanitarian challenge?

Evidence shows that financial barriers unfortunately all too often prevent refugees from accessing resettlement through job opportunities or educational opportunities. 

What is innovative about this project?

This project will seek to create a cross-border loan solution in which refugees could take out a loan in the originating country and repay it in the destination country, serving as a sustainable solution to help address the financial barriers that currently exist for refugees to access job opportunities or education. This type of solution would be particularly applicable to refugees who have been offered a scholarship or work opportunity, since these come with the commitment for future financial contributions in the form of scholarships/stipends or salaries.

What are the expected outcomes?

The outcome of the project will be a cross-border loan solution in which refugees could take out a loan in the originating country and repay it in the destination country. This will allow refugees who otherwise would not be able to embark on Complementary Pathways (e.g., educational opportunities, work visas) to safe third countries the chance to do so.