What do remittances have to do with rural development?

What do remittances have to do with rural development? Much more than we think!


​​Pietro Mona, Deputy Head, Global Program Migration & Development, SDC Bern

IFAD’s multi-donor Financing Facility for Remittances (FFR) increases economic opportunities for the rural poor through the support and development of innovative, cost-effective, and easily accessible international and/or domestic remittance services. Remittances, which are money transfers that migrants send home, totaled approximately US$434 billion in 2014 – 40% of which went to rural areas. These substantial financial flows significantly contribute to rural incomes and community investment. The objective of FFR is to maximize the impact of remittances by supporting projects and activities in more than 40 countries that:reduce the transfer costs of remittances

  • develop institutional partnerships
  • bank the unbanked rural population
  • promote innovative remittance and financial services
  • promote productive rural investments of migrants’ capital in their countries of origin

The colleagues of the FFR visited us in Berne on November 10th and presented their work including two short movies of projects in Sri Lanka and the Philippines. Please follow this link to find their presentation » presentation.