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This document discusses strategies for maximizing the impact of remittances and migration. It recommends strengthening remittance markets through promoting competition, using intermediaries like microfinance institutions and postal services, and innovative models like mobile payments. It also suggests promoting financial inclusion through distribution channels, financial literacy programs, and cross-selling financial products. Finally, it proposes promoting investment of remittances and migrant savings through identifying investment opportunities, developing productive investment models like funds and bonds, and supporting skill development and entrepreneurship.
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- 1. Promoting innovative remittancemarkets and empowering migrant workers and their families International Fund for Agricultural Development Scaling up remittances and diaspora capital for rural transformation GFRD, MILAN 18 June, 2015
- 2. to developing countries Remittance andmigration US$436 BILLION (2014) US$64 BILLION US$25 BILLION US$64 BILLION US$22 BILLION US$261 BILLION 247 US$500 BILLION IN SAVINGS
- 3. Maximizing the impactof remittances and migration “Access” Strengthen the remittance rural market - Competition promotion - Intermediation (MFIs, Postal) - Innovative models (Mobile, virtual) - Regulatory framework “Use” Promote Financial Inclusion - Distribution channels - Financial literacy - Cross-selling of financial products - Savings mobilization “Investment back home” Promote investment of remittances and migrant savings - Opportunity identification - Productive investment models (Funds, Bonds) - Skill development - Entrepreneurship Remittances and Development in Rural Areas: Strategic opportunities for IFAD 1 2 3
- 4. Remittances and Development IFADportfolio and strategic approach Small & Large Grants Remittances & Entrepreneurship, Nepal (APR) Country strategies & IFAD portfolio through scalable models and inclusive finance LoansSupplementary funded grants Migrants resources Mobilization - Regional (APR) Remittances & Entrepreneurship, Nepal (APR) 50 FFR grants in 40 countries to Public, Private and civil society organizations Research and analysis Knowledge products Policy advocacy Regulatory framework, markets, households surveys and research projects - Sending money home - In country scaling-up strategies - UN (GFMD, Post 2015, F4D, GMG) - G20 - Innovative finance - GFRD (IFAD) - IDFR (IFAD) OperationsAdvocacyand KM
- 5. “This said…” Where dowe go from now? How do we scale results?