Project Description

Integration in EU Member States remains a challenge not only for TCNs who are seeking to rebuild their lives but also for the local communities and authorities who envision a peaceful coexistence and prosperous life between all the people living in these communities. In the wake of the massive influx of migrants, the need for linguistic and cultural mediation increased sharply both in the receiving countries and in the territories that migrants and asylum seekers cross to reach their destinations. Unfortunately, the access to financial services (particularly at traditional banking institutions) for TCNs are hindered by the limited language proficiency, registration, legal status, lack of experience and knowledge about the (local) financial system and their product offers. Several concepts and interantional agencies have emerged as crucial policy tools to fight against social and financial exclusion, promote self employment and support microenterprises. Also, they have recognized the importance of adequate language mediation, not only in handling the Refugee Status Determination (RSD) process but also in the provision of basic civil services. According to the recent reports, the European financial institutions targeting microfinance need financial and technical support to develop new products and services tailored to ethnic entrepreneurs who do not have a long track record in EU MS and therefore require special attention. PLOUTOS seeks to ensure that TCNs become productive members that contribute to society and thus promote the welfare and growth of the area they live in. Also, PLOUTOS aim to impact the local communities by increasing TCN’s confidence and motivation for self- employment thanks to a new skillset as well as it will reduce the fear and instability that comes as a result of TCNs dependence on the surrounding society. In addition, the project will facilitate TCNs’ access to financial services through language and community interpreting courses, entrepreneurship and financial literacy training, and innocative technological tools especially designed for TCNs.

Impact

The aim of PLOUTOS project is to improve TCN‘s access to financial services firtsly through a course on financial literacy and sustainability supported by a relevant language course and secondly via a course on community interpreting offered to people already offering this service without having had any professional training (including TCN‘s residing in the host country for more than 3 years, second generation, employees of financial service providers and NGOs). In addition, PLOUTOS project aims to develop a practice business programme enabling practical training of TCNs in applying their financial literacy skills on the job and multi-lingual technical tools offering TCNs with business training & access to microfinance in any EU country through the 96 members of the European Microfinance Network, lifting cultural and administrative burdens.

Our Role

Innovation Hive will be contributing to all project’s activities and work packages. More specifically, our organization will be leading the following activities: WP2: Preparatory Activities, Business Language & Financial Literacy curriculum and the activity 5 “Produce Handbook of good practices and policy recommendations (lessons learnt)” from WP6: Dissemination, Communication and Sustainability. In addition, Innovation Hive will be responsible for the Quality Assurance and Risk management of the project, as well as for the Project monitoring and evaluation.

Project Partners

Project’s Social

Facebook Linkedin

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.