Knowledge

With mobile phone coverage generally surpassing 90 per cent of the population, even in developing countries, the potential to leapfrog to mobile banking holds the promise of addressing many of the challenges currently faced by rural remittance recipients. 

This report proceeds from the Global Forum on Remittances held in Bangkok, Thailand in 2013.

This document reports on the remarkable achievements of the Financing Facility for Remittances (FFR) in its five years of operation. It provides an overview of the importance of remittances to development, the strategy that the Facility has adopted to date, and the lessons. 

The FFR Brief learned from the innovative projects it has financed. Looking forward, the report highlights the tremendous opportunities offered by large-scale distribution networks, adoption of new technologies, mobilization of migrant capital and partnering with the private sector. Each chapter has been designed to be readable as a stand-alone discussion of the specific topic area it addresses. As a number of projects resulted in lessons learned in multiple areas, projects may be mentioned more than once, and their impact in each topic area will be discussed separately.

This report is an executive summary of a forthcoming compilation of studies on remittances to Asia and the Pacific. The findings are based on a series of studies commissioned by IFAD and carried out by Developing Markets Associates, the Inter-American Dialogue (IAD), the World Bank and the World Savings Bank Institute, and studies and analyses undertaken by the World Bank.