New York Metropolis is launching a program that can give $53 million in pay as you go bank cards to unlawful immigrants residing in metropolis accommodations.
The playing cards, which might reportedly solely be utilized in grocery shops, comfort shops and wine bars, may also require migrants to signal an affidavit saying they may solely use them to purchase important provides.
This system will give a migrant household of 4 a mean of $35 a day, for a complete of virtually $1,000 a month.
Mayor Eric Adams is reportedly rolling out this system for roughly 500 migrant households residing on the Roosevelt Lodge as a pilot.
If profitable, the town will broaden it to fifteen,000 migrant households residing in New York accommodations.
“MoCaFi seems to be ahead to partnering with New York Metropolis to disburse funds to asylum seekers to buy recent, sizzling meals,” stated Wole Coaxum, CEO of Mobility Capital Finance, the corporate behind this system. “The objective of MoCaFi is to broaden entry to monetary sources for unbanked people, corresponding to asylum seekers, whereas serving to the native economic system.”
A spokesman for Adams claimed this system would “save New York” greater than half one million {dollars} a month.
“Not solely will this give households the power to buy recent meals for his or her culturally related food regimen and toddler wants of their alternative, however the pilot program is anticipated to avoid wasting New York Metropolis greater than $600,000 monthly, or greater than $7.2 million yearly . .”
