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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Event

How MDBs Can Help Reduce Costs of Remittances and Facilitate Cross-Border Payments through Formal Channels

Room U12-250, MIGA/World Bank Group or watch online via Webex
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Remittance

To mark the International Day of Family Remittances, MIGA invites you to a panel discussion.

Remittance flows to low- and middle-income countries exceeded $650 billion in 2023, surpassing the sum of foreign direct investment and official aid. Countries are trying to increase this financial lifeline and its developmental impacts by lowering costs and encouraging flows through formal channels.

  1. Can the global community, especially multilateral development banks (MDBs), encourage remittances and cross-border payments through formal channels?
  2. What can MDBs do to reduce the costs of remittances and increase the volume of cross-border payments?
  3. How constraining are political and commercial risks for investments in the cross-border payments industry?
  4. Can MDBs help reduce such risks and promote investments in the cross-border remittances sector and broader diaspora investments?

 

Date: Thursday, June 13, 2024

Time: 10-11 a.m.

Interventions from the floor and Q&A

 

Can't join in person? Watch online via Webex

 

Chair

Ethiopis 

Junaid Kamal Ahmad

Vice President of Operations, MIGA

   

 

 Presenter

Dilip 

Dilip Ratha

Economic Adviser, MIGA/Lead Economist, World Bank 

   

Panelists

 

Veronica Studsgaard

International Association of Money Transfer Networks (IAMTN)

   
 

Akbar Hussain

TerraPay

   
 

Nika Naghavi

Onafriq

   
 

Kelvin Leung

Mastercard

   
 

Alfredo O’Hagan 

Senior Vice President, IDT