This project finances the global expansion of the company Remitly; a mobile payment service provider that offers convenient person-to-person international money transfers.
International remittances are a major contributor to the economies of the receiving developing countries. Companies like Remitly leverage technology to provide money transfers at a lower cost. Lowering the cost of remittances directly translates to financial savings, of which a significant share will accrue in the receiving country.
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/