Financing Facility for Remittances

The Financing Facility for Remittances
Navigation Menu
FFR
Maximizing the impact of remittances on development
Remittances and development
Remittances are a crucial contribution to the well-being of migrants’ families and communities back home. They help lift millions of migrant families out of poverty, and allow them to improve their access to health, education and housing.
In 2022, over 200 million migrant workers sent US$626 billion to 800 million family members in low- and middle-income countries. This is more than three times the annual flow of official development assistance and exceeds foreign direct investment.
Maximizing the impact of remittances
Since 2006, IFAD's multi-donor Financing Facility for Remittances (FFR) maximizes the impact of remittances on development and promotes migrants' investment in their countries of origin.
With almost 70 projects in over 50 countries, the FFR promotes innovative investments and transfer modalities, supports financially inclusive mechanisms, enhances competition, provides financial education and inclusion, and encourages migrant investment and entrepreneurship.
Research and partnerships
The FFR conducts dedicated research on global and regional remittances flows. Its Sending Money Home reports provide an overview of trends and opportunities in different remittance markets, and analyse costs, regulations and main actors in the ecosystem.
The FFR is highly involved in global and regional processes on remittances and development, including the Global Forum on Migration and Development, the G20 Global Partnership for Financial Inclusion and the Global Remittances Working Group.
Events
The IFAD-led Global Forum on Remittances, Investment and Development (GFRID) Summits bring together stakeholders across sectors to create partnerships and synergies. It is one of the actionable tools to implement the Global Compact on Migration (objective 20).
The FFR coordinated efforts towards formal adoption of the International Day of Family Remittances (16 June) by the United Nations General Assembly. The day raises awareness of the fundamental contribution of migrant workers not only to their families and communities back home, but also to wider sustainable development in their countries of origin.
Initiatives
Since 2019, the FFR has been implementing the Platform for Remittances, Investments and Migrants' Entrepreneurship in Africa (PRIME Africa), co-financed by the European Union. It maximizes the impact of remittances for millions of families in seven countries in Africa.
In parallel, the FFR is implementing the Diaspora Investment in Sustainable Rural Youth Entrepreneurship in Mali which supports investments from the Malian diaspora to their home country.
Stay updated
Get weekly updates on remittance markets by subscribing to our newsletter. For more information, contact remittances@ifad.org.
The FFR is co-financed by the European Union, the Grand-Duchy of Luxembourg, Spain’s Ministry of Foreign Affairs, the Swedish International Development Cooperation Agency and the German Agency for International Cooperation for the GFRID Summits.
Asset Publisher
Contacts



Leonard Makuvaza
Remittances and Inclusive Digital Finance Officer (South Africa, The Gambia)

Frédéric Ponsot
Senior Technical Specialist on Remittances, Diaspora and Inclusive Finance


Spotlight
Spotlight
The impact of migrants' remittances and investment on rural youth
Related news
Related news
Cape Verde: digital remittances have the potential to boost rural development, says IFAD report
Low-cost mobile remittances to boost rural development in The Gambia
IFAD and EU provide support to Malian diaspora to boost investments in agricultural sector
Related events
Related events
Announcing the GFRID Summit 2023
Remittances and their role in building resilience to improve food security in Africa
International Day of Family Remittances – Observance events 2022
Related stories
Related stories
12 reasons why remittances are important
11 reasons why remittances are important
Helping remittances reach rural areas in Moldova
Stay at home! Savings, contingencies and electronic wallet use
Mobilizing inclusive remittances for rural development
Related publications
Related publications
Financing Facility for Remittances Knowledge Products
Improve partnerships between Post and Money Transfer Operators for better remittance services to rural Africa
RemitSCOPE: Kenya Country Diagnostic
Related videos
Related videos

