Collective Remittances in Transnational Relations and Local Development, Under A New Co-Investment Program with the Mexican Government 2024-2030

Abstract

Collective remittances, sent by organized migrants to their communities of origin, are key to transnational relations and local development in countries like Mexico. This study analyzes the potential impact of a new co-investment program between the Mexican government and migrant communities (2024-2030), highlighting how these remittances promote not only financial flows but also social participation and the strengthening of transnational communities. Success stories are highlighted where remittances have financed infrastructure, education, and health projects, improving local quality of life. Furthermore, a co-investment approach is proposed that includes the use of Fintech to facilitate remittance transfers, microfinance, and collaboration between the government and transnational civil society. Considering challenges such as transparency and financial inclusion, it concludes that collective remittances have great potential to drive sustainable local development and the strengthening of transnational communities.