Madam Chair,
Excellencies,
Distinguished delegates,
I am pleased to address you on the occasion of the International Day of Family Remittances. Today, the United Nations shines the spotlight on one of the most consequential impacts of global migration. That is, the opportunity for millions of people to improve their livelihoods, through the remittances sent by family members working abroad.
These person-to-person transfers help directly to lift people out of poverty. They improve their access to health, education, water, sanitation and housing. Without a doubt, the annual flow of remittances to low- and middle-income countries – estimated by the World Bank at U$540 billion in 2020 – makes a tremendous contribution to achieving the Sustainable Development Goals.
The closing of borders as a result of the COVID-19 pandemic, has created hardship for migrant workers and their families. Yet, in the face of widespread unemployment, migrants have demonstrated resilience as they continued to support their families back home, often at great personal sacrifice.
The pandemic has also revealed the critical role that migrants play in today’s society as essential workers. In particular in the food supply chain, and in the health and care industry.
I encourage countries presenting their voluntary national reviews at the upcoming High-level Political Forum, to reflect on the role of safe, orderly and regular migration in achieving the SDGs under review.
The focus of today’s campaign – “Recovery and resilience through digital and financial inclusion” – is most welcome.
While COVID-19 has accelerated the pace of digital transformation, it has also reminded us about the digital divide –exacerbating inequalities, and further excluding those who are not digitally connected.
At 6.4 per cent, the transaction costs of migrant remittance still far exceed the SDG target, of 3 per cent by 2030. The deployment of the cost-saving digital means to reach financially excluded and underserved populations, will help to bring down the costs of transferring remittances.
Digital financial inclusion will also assist migrants and their families in making more productive use of their remittances.
In accordance with Objective 20 of the Global Compact for Safe, Orderly and Regular Migration, we must develop policies and regulatory environments, that enable”:
- competition,
- regulation and
- innovation, while enhancing the financial inclusion of migrants and their families.
Measures to combat illicit financial flows and money- laundering, should not impede the transfer of remittances through undue, excessive or discriminatory policies.
Today, let us celebrate the 281 million international migrants. Let us acknowledge the sacrifices they have made. And let us recognize the contribution of migration and remittances to sustainable development.
I thank you