Since its inception over ten years ago, the Global Forum on Remittances, Investment and Development (GFRID) has served as a platform to raise awareness, facilitate dialogue and promote collaboration on the contribution of migrant remittances to development. By bringing together Member States, international organizations, private sector and civil society, the Forum allows stakeholders to showcase good practices and build partnerships to leverage the role of remittances in countries and communities of origin towards achieving the Sustainable Development Goals (SDGs).
The GFRID 2018 Asia-Pacific will build on recommendations made during the GFRID 2017 in New York, and will highlight the latest findings and linkages between remittances and development in Asia-Pacific, particularly in the context of the 2030 Agenda for Sustainable Development, the Sustainable Development Goals (SDGs) and the process towards the adoption of the Global Compact for Migration.
The GFRID 2018 intends to:
Scale-up the debate initiated during the Global Forum on Remittances, held in Bangkok in 2013, of exploring the recent developments and discuss the latest challenges, opportunities and concrete innovations from the previous Forum, in light of the Global Compact on Migration;
Update the stakeholders on findings and realities from recent initiatives in the region;
Further engage the public sector and regulators in creating an enabling environment to boost the development impact of remittances, and bridging the private and public sectors as well as the civil society;
Create a collaborative platform on remittances to provide solutions to existing challenges and share Malaysia’s experiences particularly in terms of regulation and supervision of the remittance industry;
Identify adapted and scalable models of intervention and partners to implement future operations, particularly in the fields of (i) rural finance and financial inclusion, and (ii) financing agriculture through diaspora investment.
The Forum aims to:
Highlight the contribution of migrant remittances and diaspora investment in Asia-Pacific to achieve the SDGs and their targets;
Share good practices to leverage remittances for development in the Asia-Pacific marketplace, including through public-private partnerships;
Identify measures to reduce the cost of remittances, through market competition, innovative business models and the use of modern technologies;
Assess regulatory barriers and other constraints to lower remittance costs, promote diaspora investment and facilitate financial inclusion;
Explore innovative financing solutions to unlock migrant investments;
Highlight sustainable and innovative business models that expand current remittance markets and create synergies with other financial markets and products;
Promote national development strategies that allow for scaling up successful business models and strategies involving migrant and diaspora contributions;
Provide concrete, actionable recommendations to leverage the potential of diaspora investment and migrant remittances towards the adoption of a Global Compact for Migration in 2018.
The GFRID 2018 Asia-Pacific would prompt the creation of a multi-stakeholder platform on remittances, investment and development, to build regional ownership, and to provide continuity to the previous achievements, with the ultimate goal of feeding the dialogue on remittances, investment and development from a regional perspective and upscale the past successful initiatives. Broadly, the GFRID 2018 Asia‑Pacific will have a future legacy and meaningful follow-up actions. The Forum will be replicated in other regions, whereby a GFRID with a regional focus will be organized every two years with the support of a local host.
As space is limited, Forum attendance is by invitation only. However, if you are interested in attending, please submit your expression of interest through a short survey. After review and approval of your submission, you will receive a formal invitation with a link to the registration page.