For remittances to deliver their full potential, each country must have the right infrastructure, market conditions, and regulations in place. At the regional and international level, the sending and receiving countries must have effective and gender-responsive frameworks for cross-border policy cooperation and inter-operable systems. They need to combat illicit financial flows while ensuring that law-abiding people can easily and affordably send their own money to each other.
UNCDF’s migration and remittances team includes policy and technical experts who themselves have held senior roles in developing countries’ central banks. They understand the need to balance competing policy goals—and how to do it in different contexts. Our experts provide comprehensive, real-world consultations with policymakers and regulators throughout the developing world. They carefully diagnose the current state of the policy framework around remittances: not just the regulations aimed directly at money transfers, but the adjacent ones—telecommunications, foreign currency holdings, taxation, and more—that shape the financial behaviors and choices of migrants and their families. Then our experts listen carefully to policymakers’ goals, and provide practical, actionable recommendations about steps they can take to move from the current state to the desired future state. Including the promotion of collecting sex-disaggregated data and conducting gender analysis to ensure that policy solutions are inclusive of both men and women migrants’ diverse realities and support needs.
Because our experts have broad-based experience, they can also provide meaningful comparisons and lessons learned from other developing countries’ experience. And because UNCDF is committed to our ecosystem approach, we bring together policymakers with remittance service providers so that each can learn directly from each other about goals and constraints, grounded in deep understanding of migrants’ financial priorities.