Pedro de Vasconcelos, Manager of the Financing Facility for Remittances at the International Fund for Agriculture Development (IFAD), discusses the importance of international remittances to the global economy, as well as opportunities for the postal network. We discuss:
- Impact of remittances and migrant investments on the socioeconomic development of nations
The scale of these remittance contributions globally - hint: it's in the billions!Continuing growth in this financial flowHow IFAD works to financially include migrants, small business and other underserved populations via the Financing Facility for RemittancesHow remittances are put to work in recipient communitiesFinancial literacy and financial inclusion, leading to financial resilienceThe challenges in ensuring affordable, accessible remittances for migrants, including factors that exclude them from the formal financial systemCompetition in financial remittancesConcerns about security of global remittances, including crime, money laundering, and terrorism financingRemittances that kept communities going, even during the pandemicHow the postal network helps and could help provide inclusive finance and remittancesImpact of armed conflict on global remittancesHow posts can maximise their involvement and the positive impact of being part of a global remittance networkThe aims of the International Day of Family RemittancesRemittances can serve the post - more than what many currently perceive