The impact of remittances for recovery and resilience through digital and financial inclusion

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The impact of remittances for recovery and resilience through digital and financial inclusion

In 2021, migrants’ remittance flows to low- and middle-income countries reached US$540 billion, only 1.6 per cent below the US$548 billion seen in 2019 and are expected to recover in 2021.

Migrants’ digital and financial inclusion can contribute to maximize the vast potential of remittances and investments for the development of local and national economies, particularly in low- and middle-income countries. New technologies have proven effective in increasing the use of regulated digital channels, but more needs to be done to increase their access and use, especially in rural areas where they count the most.

This virtual Global Forum on Remittances, Investment and Development (eGFRID) webinar, hosted by IFAD for Financial Inclusion Week, will present opportunities to promote greater digital and financial inclusion for migrants and their family members back home.

Financial Inclusion Week is an annual gathering of the global community working to advance inclusive finance. The theme for 2021 is Inclusive Finance: Driving Prosperity in an Era of Uncertainty.

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