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Global Forum on Remittances, Investment and Development (GFRID)
About the Forum
This last Global Forum on Remittances, Investment and Development (GFRID), held at the United Nations Headquarters on 15 and 16 June 2017, marks a decade of successful forums.
The Forum brought together key decision makers from member states, the private sector and the civil society, involved in the field of migration and remittances for development. The Forum saw the participation of over 350 participants, gather to share lessons learned and best practices on innovative business models, to stimulate long-lasting partnerships, and to raise awareness towards the creation of a more enabling market, particularly in light of the 2030 Agenda for Sustainable Development and the SDGs.
Acknowledged by former UN SECRETARY GENERAL Ban Ki-Moon and by Louise Arbour, UN Secretary General's Special Representative for International Migration, the GFRID is now seen as a key platform to raise awareness and promote models and mechanisms aimed at leveraging the impact of migration and remittances for development.
Organized by IFAD in collaboration with the WORLD BANK and the UNITED NATIONS DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS (UN-DESA), the Forum coincided with the celebration of the INTERNATIONAL DAY OF FAMILY REMITTANCES (IDFR) on 16 June, in recognition of the fundamental contribution of migrants to the wellbeing of their families and communities back home.
The event provided a substantial contribution to the global debate on remittances and migrant investment, pursuing efforts to significantly decrease transfer costs, maximize their impact for development, and ultimately contribute to achieving the SDGs. The Forum conclusions would also feed the current process towards the adoption of a Global Compact for Safe, Orderly and Regular Migration in 2018.
The next GFRID will take place on 8-10 May 2018 in Kuala Lumpur, Malaysia, and will be the first of a series of regional Forums. The Central Bank of Malaysia will host the event, in collaboration with IFAD and the World Bank.