Migration & Remittances

Affordable, accessible and appropriate remittances. Full financial services that work for women and men on the move.

UNCDF is pursuing an ambitious, 360-degree approach to making remittances work better for migrants and their families.

The situation

Globally, an estimated 281 million people, or roughly four percent of the world’s population, live and work outside their country of origin. Half of them are women. Like everyone else, migrants need a full suite of safe, affordable, convenient and effective financial services. But as new technologies emerge, a disconnect has grown between the available financial services and the needs and aspirations of migrant populations. It starts with remittances—ways to send money home to the people who depend on them. But it doesn’t end there.

Our response

UNCDF wants to make it easier, safer and less expensive for migrants to send money home. But beyond that, we want to take advantage of remittances as the starter product that could open the door to other high-impact financial services—credit, bill payments, savings, pensions, insurance, and more—to build the resilience of migrants and their families.

New thinking, approaches and knowledge are needed to reimagine remittances and make them work for men and women on the move. Through an inclusive way of doing innovation—one that is gender-smart and migrant centric—UNCDF is working at every level: with international and regional organizations, with national governments, with financial service providers, and with migrants themselves.

Supporting governments

We partner with governments to craft the right policy solutions—within and across borders—so that remittances move safely and efficiently.

Making digital finance work for migrants

We provide funding and technical assistance to all kinds of financial service providers so that they understand migrants’ financial needs, and design and deliver effective, gender-responsive products.

STRENGTHENING FinancIAL resilience

We work to build the financial and digital capacity of migrants so that they use financial products that advance their well-being.

Building awareness and advocacy

We use our global presence, our unparalleled experience in finance for least-developed countries, and our convening power to raise awareness of the challenges around remittances and to accelerate solutions.
Remittances are a direct or indirect contributor to most of the Sustainable Development Goals. When digitalized end-to-end and linked with gender-responsive value-added financial products and services, they contribute to families’ well-being, women’s financial inclusion, and reduced inequalities in both sending and receiving countries.

We come from the worlds of banking and technology. International development. Policy and regulation. We have worked in more than 50 countries and speak more than 20 different languages. Our team spans 9 time zones and more than 90 percent of us are migrants ourselves.

Amil Aneja

Amela Cosovic

Linda Dobos

Sarah Lober

Arunjay Katakam

Robin Gravesteijn

Houle Cao

Serge Moungnanou

Mamadou Diallo

Mercy Wambui Wachira

Albert Mkenda

Eliamringi Leonard Mandari

Premasis Mukherjee

Jeremiah Grossman

Amit Gurung

Paloma Monroy

Louis Fourmentin

Doreen Ahimbisibwe

Mukankunga (Angel) Bisamaza

Edgar Muganwa

Wen Kang (Ralph) Chow

Deepali Fernandes

Julie Wangechi Kamau

Sara Puebla

Ali Akram

Alejandro Gonzalez-Caro

Aurélie Larquemin

Ibish Kastrati

Faezal Yunus

Andrea Petkovic