IFAD makes urgent call on International Day of Family Remittances
By Benjamin Jumbe
The President of the UN’s International Fund for Agricultural Development has called for urgent investments in digital infrastructure and mobile services in developing countries to ensure rural families are not left behind.
Speaking on the International Day of Family Remittances, President of IFAD Gilbert Houngbo said, despite a massive increase in migrants sending money home via digital transfers due to the COVID-19 pandemic, millions of their rural family members struggle to access the mobile banking services which could help lift them out of poverty.
He urges governments and the private sector to urgently invest in rural digital infrastructure to address this challenge.
Mobile remittances increased by 65 percent last year, rising to $12.7 billion.
Across the globe, 200 million migrants regularly send money to their 800 million relatives.
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