Report on the reduction of the cost of migrant remittances to optimize their impact on development

2013-06-20 11:56:17

Remittance costs currently tend to stabilize at a high level, spurring governments to national, bilateral and multilateral action. This report seeks to recommend the ways and means to reduce the cost of money transfers and optimize their contribution to development through suitable financial and regulatory innovations, in keeping with commitments made at the Africa-France Summit in Nice in 2010, and at the G20 Summit in Cannes in november 2011. This report comes in the wake of an earlier study initiated by the African Development Bank (AfDB), with the support of France:

- 2007 study entitled Migrant Remittances, a Development Challenge,
- Establishment of a multi-donor “Migration and Development Trust Fund” at the AfDB in 2008,
- Capacity-building programme for remittance service providers in the Maghreb and Franc Zone (2009).

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Leading Group on Innovative Financing for Development