Remittance Families & Development

Apr 29, 2025 8:15 AM - Apr 29, 2025 9:30 AM | Author: FFR

The International Fund for Agricultural Development (IFAD), in partnership with the International Organization for Migration (IOM), the Permanent Mission of Guatemala to the United Nations, and the Permanent Mission of the Republic of the Philippines to the United Nations is organizing a side event titled “The Role of Remittances for Financial Inclusion”, held on the margins of the Fourth Preparatory Committee Session (PrepCom) for the Fourth International Conference on Financing for Development (FFD4).

Location: IFAD Liaison Office with the United Nations,
866 United Nations Plaza, New York
Format: In-person event (breakfast will be provided).

Aligned with the 2025 Campaign for the International Day of Family Remittances (IDFR), themed “Remittances Financing Development”, the event will underscore the contribution of remittances to achieving the SDGs, with a particular focus on their impact for greater financial inclusion for both migrants and their families in their countries and communities of origin.

The FfD4 presents a unique opportunity to advocate for stronger commitments to harness remittances and diaspora investment for sustainable development and economic growth, particularly through enhanced financial inclusion. In that respect, this event aims to present recent trends and examples of current initiatives, and equip member states with clear, impactful language to support their interventions on this topic during the 4th FFD4 PrepCom Session, ultimately ensuring that the transformative role of remittances is fully reflected in the outcome document. Member States are encouraged to attend and deliver a statement.

Attached:

Concept Note of the side event
Flyer of the side event
IDFR Campaign 2025 brochure

To confirm your attendance, please complete the registration form.

For more details, visit www.familyremittances.org

Mar 27, 2025 2:00 PM - Mar 27, 2025 3:00 PM | Author: FFR

Unlock Data. Save Time. Make Smarter Decisions.

Are you looking to enhance your knowledge, save time, and make data-driven decisions in the remittance industry? The International Fund for Agricultural Development (IFAD) and DMA Global held an exclusive webinar to maximize the potential of RemitSCOPE.org, the free remittance-based information tool.

RemitSCOPE consolidates publicly-available and purposefully-collected remittance and remittance-market related data into a user-friendly platform, providing indexes and deep-dive insights for each featured country. Currently covering Africa and Latin America, this tool is a valuable resource for anyone involved in the remittance ecosystem, with more regions to be added soon!

This fast-paced, engaging webinar covered:

Why RemitSCOPE was developed
How it can benefit you and your work
How to access and navigate the tool
Tips to maximize its potential and enhance your remittance knowledge
How it helps you save time, expand your network, and improve decision-making

This webinar is designed for anyone with an interest in remittances, including:

Industry professionals
Regulators, policymakers, and supervisors
Development professionals and consultants
Business leaders and teams responsible for research, business planning, and strategy development

What is RemitSCOPE?

A cutting-edge platform featuring:

• The most up-to-date and trusted remittance data for 54 African countries and 32 in Latin America

• Multiple tools to interact with and analyze data

• Up to 114 different variables per country

• 7 key topic areas and 5 main themes

• Comprehensive country profiles and insightful indexes

• More than just a dataset—an indispensable tool for growing your remittance business!

Agenda

Presentation on RemitSCOPE Africa, DMAG

Q&A

Feb 10, 2025 8:00 AM - Feb 10, 2025 10:00 AM | Author: FFR

Remittance Families & Development

The International Day of Family Remittances (IDFR), observed every June 16, honours the contributions of migrants who send money home to support their families and communities. adopted by the United Nations General Assembly in 2018 (A/RES/72/281), IDFR highlights how remittances strengthen economies and help achieve the Sustainable Development Goals (SDGs).

The IDFR 2025 campaign “Remittances Financing Development” was launched at an event on 10 February 2025 at the IFAD Office, New York, jointly hosted by IFAD and the Permanent Missions of Guatemala and the Philippines to the UN.

The event was attended by over 25 representatives of Member States, international institutions and development partners to:

(a) launch the IDFR 2025 campaign, which will culminate at the FfD4 in Spain,

(b) advocate for more inclusive language in the FfD4 zero draft outcome document on the margins of the 3rd Prep Com Session and

(c) present actionable recommendations for Member States to enhance the development impact of remittances for vulnerable populations, such as women and rural communities, through enabling policies and innovative solutions.

The Vice-Minister of Foreign Affairs of the Republic of Guatemala, H.E. María Luisa Ramírez, and the Ambassador and Permanent Representative of the Permanent Mission of the Republic of the Philippines to the UN, H.E. Antonio M. Lagdameo, provided opening remarks and closing reflections.

Discussions explored key actions to ensure that the transformative potential of remittances—both in building long-term resilience for recipients and acting as a catalyst for broader inclusive development—is fully recognized. Member States reaffirmed their commitment to promoting policies that maximize the impact of remittances on national development and expressed deep appreciation for the transformative impact of remittances, recognizing them as a catalyst for economic resilience and development.

The 2025 IDFR Campaign will underscore the critical role of remittances in advancing the SDGs and identify key priorities for maximizing their impact on household economic and climate resilience and sustainable local development.

For more details, visit www.familyremittances.org

Concept Note

Dec 3, 2024 1:15 PM - Dec 3, 2024 2:30 PM | Author: FFR

Remittance Families & Development

The side event, convened by the International Fund for Agricultural Development (IFAD), the International Organization for Migration (IOM), permanent missions of Mexico and Nepal to the United Nations, on the margins of the Second Session of the Preparatory Committee for the 4th International Conference on Financing for Development (FfD4) highlighted the transformative role of family remittances and diaspora investments in financing the SDGs and enhancing resilience. It provided a platform for governments, the UN system, civil society, the private sector, and other stakeholders to share strategies, partnerships, and initiatives, with a focus on leveraging digitalization for greater financial inclusion. The event amplified the recommendations outlined in the IFAD-IOM policy brief, supporting Member States’ efforts in the FfD4 preparatory process.

Web link for the event: https://webtv.un.org/en/asset/k1e/k1eb3i45br

Concept note and Agenda

Nov 29, 2024 9:00 AM - Nov 29, 2024 1:15 PM | Author: FFR

Digitalization Market Insights Remittance Families & Development

The Remittances and Development Program (PRYD) carried out by the Center for Latin American Monetary Studies (CEMLA), together with the International Fund for Agricultural Development of the United Nations (IFAD) hosted the Annual Meeting of The Remittances Program and Development and Presentation of The Remitscope LAC Platform at CEMLA´s headquarters in Mexico City, on November 29, 2024, from 9:00 to 13:15 hrs, Mexico City time.

The first step for the effective analysis of policies that could improve the productive use of remittances and support the development of recipient households and LAC countries is to have information, organized, structured, and easily accessible, that allows evaluating the aspects key to remittance, migration and their relationship with development, which will allow identifying possible measures that can support decision-making in these cases. To achieve this, RemitScope LAC, which includes all the information available on different aspects of remittances, migration, and their relationship with financial inclusion and development has been developed.

To create the platform, information was consolidated through online data, consultations, surveys, and interviews in each country, as well as with the participation of some Central Banks that complemented the official information on these topics.

The event aimed at officials from central banks, bank superintendencies, financial sector supervisory entities, statistical institutes, officials from the remittance industry, and others involved in the issue of migration, remittances, and development.

The event was in person and virtual format, in Spanish with simultaneous translation into English.

On behalf of CEMLA, the event is coordinated by René Maldonado, +52 55 5061 6663, rmaldonado@cemla.org; supported in logistics by Rocío Ramírez Peña, +52 55 5061 6663 mramirez@cemla.org.

Mexico Country Diagnostic

Agenda (English)

Agenda (Spanish)

Nov 27, 2024 9:00 AM - Nov 27, 2024 4:00 PM | Author: FFR

Financial Inclusion Remittance Families & Development

In Guatemala, remittances are a fundamental pillar of the economy, with millions of families depending on them for their daily sustenance. In 2023 alone, Guatemalan migrants sent US$19.8 billion home, representing 20 per cent of the national GDP. These resources are essential for many families, allowing them access to better nutrition, education, healthcare and even the ability to save and invest. However, despite knowing the positive impact of these flows on the national economy, the potential of remittances is often limited by structural obstacles such as high rates of financial exclusion, lack of access to digital financial services and insufficient information about this market.

Aware of these challenges, the International Fund for Agricultural Development (IFAD) is organizing an event that convenes presenters and strategic participants to deepen the dialogue around remittance flows in Guatemala. The objective is to explore innovative strategies to maximize the development impact of remittances, focusing on improving financial inclusion and leveraging digital tools to expand access to financial services, especially in rural areas.

The event acted as a platform for key stakeholders, such as policymakers, financial institutions, remittance service providers and international development agencies, to engage in a constructive dialogue.

Current trends and challenges in the remittance market were presented, and opportunities to foster sustainable development through improved financial and digital inclusion strategies for the Guatemalan population discussed. The meeting established a collaborative network in order to strengthen alliances and share best practices to optimize the remittance market in the country. It aims to lay the groundwork for possible future initiatives to increase the effectiveness of these flows for the country’s economic development.

The main objective of the event was to promote financial inclusion through tailored strategies that improve access to and use of financial services for remittance beneficiaries, especially those residing in rural areas. The event aligned with the objectives set out in the ENIF 2024-2027, driving collaborations that enhance financial inclusion for remittance recipients through digital solutions and tailored financial products. Emphasis was also placed on the importance of digitalization within the remittance sector. By innovating and expanding digital payment platforms, the aim is to create more efficient, accessible and cost-effective remittance transfer channels. This digital transformation is essential to overcome geographic barriers and improve financial access in remote communities.

The event highlighted initiatives such as the RemitScope LAC. This tool was launched and presented for the first time in the region during the event, that provides complete and accurate data on remittance flows in Latin America and the Caribbean, thus improving information collection and dissemination practices. With RemitScope, market players will be able to develop more effective strategies and policies to maximize the development impact of remittances, empowering them with reliable information that fosters informed decisions and a more inclusive and efficient financial ecosystem.

Concept Note and Agenda (Spanish)

Guatemala Country Diagnostic

El Mecanismo de Financiación de Remesas

Migración, Remesas y Desarrollo en Guatemala Tendencias y Recomendaciones, Manuel Orozco

RemitSCOPE LAC, JuliaMarín Morales

Diagnóstico país: Guatemala 2023, René Maldonado G.

Nov 20, 2024 9:30 AM - Nov 20, 2024 11:00 AM | Author: FFR

Digitalization Remittance Families & Development

In recent years, digital remittances have gained significant traction due to the proliferation of mobile networks, the emergence of fintech startups, and initiatives promoting digital payments. As a result, the volume of remittances to Africa has been growing steadily over the past decade. The advent of digital technology has revolutionized various sectors globally, and the remittance industry is no exception. It has facilitated easier and more cost-effective transfer methods.

Mobile money services, in particular, have seen a surge in usage as a major remittance channel, facilitating financial inclusion and promoting the development of an entire related ecosystem. The transition into the digital age and the adoption of digital remittances presents a new set of challenges. Yet, understanding these challenges is the first step towards overcoming them and unlocking the potential of digital remittances

In this context, the United Nations Office of the Special Adviser on Africa (OSAA) collaborated with the International Fund for Agricultural Development (IFAD) to organize a webinar on “Embracing Digitalization of Remittances in Africa“ on Wednesday, 20 November, 9:30-11:00 (EST).

This webinar shed light on the considerable developmental potential of the digitalization of remittances, positioning them as pivotal contributors to Africa’s development agenda.

Agenda

Concept Note

Registration

Oct 17, 2024 9:00 AM - Oct 17, 2024 6:00 PM | Author: FFR

Remittance Families & Development

The launch event, held in Nairobi on 17 October, explored the potential of SACCOs in optimizing international remittance flows in Kenya. Key stakeholders, including the CEO of SASRA, representatives from FSDK, and Mariatu Kamara, Country Director (Kenya) for the International Fund for Agricultural Development (IFAD) along with other staff attended the event. The discussions focused on how SACCOs could enhance financial inclusion by tapping into the growing remittance market while addressing regulatory challenges and exploring partnerships to strengthen Kenya’s financial ecosystem.

Find more details on the report and the event.

Oct 17, 2024 8:00 AM - Oct 17, 2024 5:00 PM | Author: FFR

Remittance Families & Development

On 17 October 2024, IFAD, in partnership with FSD Kenya and SASRA, will launch the report on “The role of SACCOS as international remittance providers in Kenya”.

This report aims to inform public policy and the private sector strategy on the role of SACCOs in extending international remittances, especially in rural areas. More information regarding the project is available here.

If you are interested in joining the event, please get in touch with us at remittance.kenya@ifad.org

Sep 26, 2024 12:00 AM - Apr 20, 2025 10:11 AM | Author: FFR

Market Insights Remittance Families & Development

IFAD’s Financing Facility for Remittances under the PRIME Africa programme, co-financed by the European Union, facilitated a peer learning exchange for African Central Banks, focusing on the Bank of Uganda (BoU). As part of this initiative, BoU visited the Central Bank of Kenya (CBK) to learn from their remittance data collection systems. This event, jointly organized by the FFR and the CBK, provided an opportunity for BoU to gain practical insights and strengthen its data collection processes. Key stakeholders, including the Kenya Bureau of Statistics (KNBS) and Financial Sector Deepening Kenya (FSD Kenya), contributed to the knowledge-sharing effort to improve data-driven policy and private-sector strategies at the event.

The workshop, hosted by CBK, aimed to share best practices and support the enhancement of data collection to inform policy better and support private-sector business strategies.

During the three days, all participants had the opportunity to discuss critical areas such as Monthly data collection practices adopted by the central banks.

In addition, various surveys to capture qualitative insights, such as the following, were discussed:

Diaspora Remittances Survey (CBK)
Remittance Household Survey (CBK)
Annual Personal Transfer Survey (BoU)

The participants also discussed opportunities to engaget with Remittance Service Providers, including Cooperative Bank and Upesi.

The CBK Deputy Governor, Dr Susan Koech, stressed the importance of remittances to the East African economies. Lydia Ndirangu, Deputy Director of the Statistics & Knowledge Management Research Department at the Central Bank of Kenya, recognised the workshop’s importance: “I am thankful to IFAD for supporting this peer-learning, which is very timely due to our ongoing data collection activities for the Remittance Household Survey.”

Milly Nalukwago Isingoma, Director of the Statistics Department at the Bank of Uganda, emphasised the exchange’s outcome: “ We are grateful to CBK and IFAD for this enriching workshop. We go home inspired by Kenyan practice and with good ideas on how to improve our current monthly data collection.”

The CBK and BOU teams acknowledged the opportunities that current practices can provide for additional data points for policymakers and market players. At the same time, both teams realised that only a more granular data collection and approach could provide a deeper understanding and better analysis of the remittance market.

Theme: Remittance Families & Development

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