Fideraza

English translation: FideRaza [Investment Trust Fund for Mexicans Abroad]

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Fideraza
English translation:FideRaza [Investment Trust Fund for Mexicans Abroad]
Entered by: Patricia Rosas
Options:
- Contribute to this entry
- Include in personal glossary

21:08 Oct 28, 2005
Spanish to English translations [PRO]
Social Sciences - Social Science, Sociology, Ethics, etc. / Organization Name
Spanish term or phrase: Fideraza
I could skip translating this, but perhaps a clever ProZer can come up with a way to render "fideraza" in "Fideicomiso de Inversión Fideraza" (channels migrant donations to the pueblos de origen). I will give the name in Spanish, but I'd like to put something in parentheses in English. Here's the sentence in which it appears:

Las dos instituciones financieras privadas se comprometieron a depositar una porción de cada dólar enviado a Jalisco al fondo (Fideicomiso de Inversión Fideraza) para mejorar la infraestructura pública y apoyar a pequeños empresarios en el estado ...
Patricia Rosas
United States
Local time: 11:51
FideRaza [Investment Trust Fund for Mexicans Abroad]
Explanation:
I think this expansion gives a little obeisance to the "Raza" concept with the reference to "Mexicans Abroad." I'd even capitalize it and make it look like a name, because it's a literal translation of the Spanish.

Also, note that several of the Internet references capitalize the R:

FideRaza, a trust fund, matches money donated by Immigrants mostly in Los ...
but FideRaza is trying to leverage migrants' dollars to obtain financing for ...
www.escritoriodigital.cl/ news/brief.asp?Cod_noticia=0000004748

FideRaza is generating funds. from Migrants‘ money via Two. businesses that happen
to be ... FideRaza one percent of the. annual average balance On the ...
www.lmtonline.com/news/archive/111800/pagea15.pdf

... that worked with FideRaza to build A health clinic in his remote hometown in
Jalisco. ''this is A marvelous program,'' Talamantes said of FideRaza. ...
lmri.ucsb.edu/pipermail/unir/2000-November/000354.html

Selected response from:

Muriel Vasconcellos
United States
Local time: 11:51
Grading comment
Muriel, I was hoping to find a way to express the Raza part so that readers get the "marketing ploy" in the name, but I think I 'd better settle for not translating it. I will use your bracketed version instead. Thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
4FideRaza [Investment Trust Fund for Mexicans Abroad]
Muriel Vasconcellos
3Fideraza (state program using migrants's earnings...)
Karina Gonsé


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Fideraza (state program using migrants's earnings...)


Explanation:
Fideraza (state program using migrants' earnings for development projects in the western state of Jalisco)

Encontré este artículo en la web:

Mexican Immigrants in U.S. Send $6b-10b Home Annually
Dayton Daily News



Transfers could be prime investment

GUADALAJARA, Mexico - It's a little-known fact, but Mexican immigrants in the United States send a whopping $6 billion to $10 billion a year home to families and communities that depend on them.

Mexican president-elect Vicente Fox, who is promising a more prosperous Mexico when he takes over Dec. 1, believes these transfers could serve as prime investment capital to create jobs. The transfers rival tourism as Mexico's third highest source of revenue, after manufacturing and oil.

If only, Fox has said, he could make sure the money gets transferred here more cheaply, without the usual hefty commissions and poor exchange rates that skim off as much as 30 percent. If only, Fox also has said, he could funnel more of those earnings into productive businesses, not just consumption.

Experts in money transfers, from Mexico to California to Atlanta, say Fox's dream isn't far-fetched.

"We're already doing it," said Arturo Olvera, an economist who runs FideRaza, a two-year-old state program in this state capital using migrants' earnings for development projects in the western state of Jalisco. The state has one of the highest levels of migration to the United States.

FideRaza, a trust fund, matches money donated by immigrants mostly in Los Angeles, Calif., along with state and municipal funds to build clinics, day-care centers, retirement homes and, increasingly, income- generating projects.

Migrants have long donated to their hometowns to fix roads and churches, as well as support families. But FideRaza is trying to leverage migrants' dollars to obtain financing for job development, which will reduce the need for migration in the first place.

One of the trust fund's recent projects was a milk-refrigeration system in one municipality that has allowed low-income farmers to form associations and finally avoid middlemen. "The first day a collection was done with the new system the price of milk they were paid went up 20 percent," said Olvera's assistant, Martha Soto.

FideRaza is generating funds from migrants' money via two businesses that happen to be among the lower-cost institutions for transferring money home.

One of the businesses is the National Bank of Mexico, Banamex, which gives FideRaza one percent of the annual average balance on the deposits of special accounts.

The small non-checking accounts are frequently fed money from migrants in California who deposit their money with Banamex through the bank's U.S. partners, Wells Fargo or California Commerce Bank.

The second business is a private Mexican-owned money-transfer company, Raza Express, which gives FideRaza a quarter of a cent for each dollar it transfers from the United States.

"We're about to expand the program into migrant communities in Chicago and Texas," Olvera said. About 15 percent of FideRaza's budget for projects come from the percentages donated by Raza Express and Banamex. Olvera hopes that amount will increase.

Other states in Mexico have similar programs, but FideRaza has a superior infrastructure for reviewing projects' viability, said economist Raul Hinojosa, who directs the North American Integration and Development Center at the University of California at Los Angeles.

In fact, Hinojosa helped FideRaza obtain a coveted $2 million loan from the North American Development Bank, which was established by the North American Free Trade Agreement in 1994.

The bank's loans so far are mostly for environmental clean-up projects on the U.S.-Mexico border. But Hinojosa, who was the brains behind setting up the development bank, said the loan to FideRaza is for projects that generate jobs and income.

"The whole idea in the first place was for the bank to do this," Hinojosa said. So far, however, the credit line to FideRaza "is the only loan that's been extended for productive enterprises in a migrant-sending region."

Hinojosa has found a kindred spirit in Fox, who suggested during trips to the United States recently that the bank could help finance development projects in poor regions in the interior of Mexico.

During a trip this month to Los Angeles, Fox met with immigrants like Javier Talamantes, a member of a migrant association in Reseda, Calif., that worked with FideRaza to build a health clinic in his remote hometown in Jalisco.

"This is a marvelous program," Talamantes said of FideRaza. He called on Fox, however, to promote more ways for migrants to transfer money home to relatives without exorbitant fees.

Two entrepreneurs in Santa Barbara, Calif., and Atlanta, Ga. say they can help.

Many migrants send money home via money orders, which are frequently stolen, or wiring services like Western Union or Money Gram, which can charge as much as $18 to send $300 and offer exchange rates as low as 10 percent below bank rates.

New transfer methods make use of ATM cards that migrants can send to their families in Mexico, where they can then withdraw from ATM machines.

"In my heart I know we have a better solution. I just haven't known who to go talk to down there," said Joe Meyer of Skylight, an Atlanta-based company.

Skylight sets up agreements with employers so they can transfer employees' pay into a FDIC-insured non-checking account that employees can access with an ATM card four times a month for free for $6.95.

Customers can set up sub-accounts for $3 a month that allow holders of the same ATM number and card to withdraw money - at the best exchange rate - from ATM machines anywhere in the world that have international links. The transfer costs $4 for up to $1000 sent.

"It's already being done in Asia, Mexico and Europe," Meyer said.

ON THE WEB

* The North American Integration and Development Center:




Karina Gonsé
Local time: 15:51
Native speaker of: Native in SpanishSpanish
PRO pts in category: 3
Notes to answerer
Asker: Karina, thank you for the good article that you shared. The chapter has a section on the FideRaza program, but it helps a lot read about it in English. I was looking for a different answer--a way of letting the reader grasp the use of "Raza" in the name--but maybe it's impossible. Thanks, again, for your help!

Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
FideRaza [Investment Trust Fund for Mexicans Abroad]


Explanation:
I think this expansion gives a little obeisance to the "Raza" concept with the reference to "Mexicans Abroad." I'd even capitalize it and make it look like a name, because it's a literal translation of the Spanish.

Also, note that several of the Internet references capitalize the R:

FideRaza, a trust fund, matches money donated by Immigrants mostly in Los ...
but FideRaza is trying to leverage migrants' dollars to obtain financing for ...
www.escritoriodigital.cl/ news/brief.asp?Cod_noticia=0000004748

FideRaza is generating funds. from Migrants‘ money via Two. businesses that happen
to be ... FideRaza one percent of the. annual average balance On the ...
www.lmtonline.com/news/archive/111800/pagea15.pdf

... that worked with FideRaza to build A health clinic in his remote hometown in
Jalisco. ''this is A marvelous program,'' Talamantes said of FideRaza. ...
lmri.ucsb.edu/pipermail/unir/2000-November/000354.html



Muriel Vasconcellos
United States
Local time: 11:51
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 285
Grading comment
Muriel, I was hoping to find a way to express the Raza part so that readers get the "marketing ploy" in the name, but I think I 'd better settle for not translating it. I will use your bracketed version instead. Thanks!
Login to enter a peer comment (or grade)



KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:

Your current localization setting

English

Select a language

Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search