Immigrants and the American Economy: A Love Story

There’s an upside to the Trump administration’s efforts to crack down on immigration: mobilized constituencies expressing renewed appreciation for immigrants’ positive impact on the American economy and society. In Los Angeles, home to 3.5 million immigrants and one million of the country’s 11 million undocumented immigrants, Mayor Eric Garcetti launched the L.A. Justice Fund. The $10

A Latin American Formula for Inclusive Growth

An entrepreneurial culture, a youthful population and, paradoxically, still-high social inequality, are driving business opportunities throughout Latin America. Such local businesses may make the region more resilient in the face of increasingly protectionist policies that may be coming from Washington. Rodrigo Villar, founding director of New Ventures Mexico, says the apparent hostility towards Mexico from

UK tax relief funds start to flow to social enterprises

Social Finance UK made its first investment from its Bright Futures Social Investment Tax Relief Fund, which has raised £1.5 million ($1.9 million) from 40 taxpayers since 2015. The £260,000 ($324,000) loan to Ability Tec, a manufacturing company, will help it train and hire disabled workers. People with disabilities are more than twice as likely to be

Connecticut backs indoor farming venture to create jobs — and grow food

Connecticut’s economic development department invested $3 million in Four Season Farm LLC, a 10-acre indoor hydroponic farm expecting to produce millions of pounds of tomatoes. The agriculture venture is expected to create 40 jobs over two years and enable local produce to compete with imported and out-of-state products. The state funding will be used for

World Bank commits $130 million for digital payments in Pakistan

The World Bank is backing projects in Pakistan to build access to credit and digital payment infrastructure for households and small businesses. The move is part of the government’s 2015 National Financial Inclusion Strategy. Only 10 percent of Pakistani households have a bank account; one-third of adults are borrowers, but only three percent get credit

Italy moves to catch up to France in green bonds

Climate Finance A recent study of how to spur private investment in environmental and climate change initiatives recommended Italy establish a national green bond development committee. Green bonds hit a record high in 2016, rising to $81 billion, and France just issued its first green bond — the largest ever, owing to strong investor interest. “Strengthening the

MoneyGram acquisition helps Alibaba Group go global, but will it lower remittance fees?

Globally, more than $580 billion is remitted by migrants to their home countries, 75 percent to developing countries. Alibaba Group’s acquisition of MoneyGram — the second-largest money transfer service worldwide — may help bring the expensive transfers world into the era of mobile and online money. The acquisition gives Alibaba’s online payments processor, Ant Financial, access to MoneyGram’s 200-plus international