Second International Migration Review Forum - Round Table 3

Statement on behalf of the Food and Agriculture Organization (FAO) and the International Fund for Agricultural Development (IFAD).

Esteemed Co-Chairs of Round Table 3, distinguished Member States representatives, and all participants,

I am honored to deliver this statement on behalf of the International Fund for Agricultural Development (IFAD) and the Food and Agriculture Organization (FAO).

In this period of global uncertainty, this second International Migration Review Forum provides a unique opportunity to renew our collective commitments on the positive contribution of migrants in advancing sustainable development in their countries of origin, particularly through the remittances they send and the investments they make. This recognition was already central to the 2022 IMRF Progress Declaration. Four years later, we must both acknowledge the progress achieved and align our commitments with today's realities.

Today, remittances are among the most significant external financial flows to low- and middle-income countries. In 2024 alone, over US$650 billion was sent to low- and middle-income countries, surpassing official development assistance and supporting hundreds of millions of families. These flows are projected to reach US$3.5 trillion by 2030, confirming their growing importance in the global development landscape.

Since 2022, global policy frameworks have further strengthened this recognition. From the first IMRF Progress Declaration to the Sevilla Commitment of the Fourth International Conference on Financing for Development, there is now broad consensus on the transformative impact of remittances, particularly through enhanced financial inclusion in rural areas.

The challenge is no longer only about costs, it is about maximizing the development impact of remittances and diaspora investment.

Remittances play a crucial role in fostering financial inclusion and strengthening economic resilience, particularly at community level and in rural areas where their benefits are most needed. They are often the first entry point into the formal financial system, enabling access to savings, credit, and insurance, while supporting food security, smallholder agriculture, and local entrepreneurship. Moreover, with the right support and pro-active engagement, diaspora contributes to the development and resilience of agrifood systems.

Diaspora contributions also build rural resilience in the face of climate change, enabling vulnerable communities to invest in climate adaptation and strengthen livelihoods, thereby addressing climate-induced distressed migration.

Beyond their financial investment, diaspora also share knowledge and know-how with youth in their countries of origin, providing jobs as well as opportunities for young agripreneurs to grow and green their businesses and to facilitate access to export markets.

Yet, significant challenges persist and the full development potential of these flows remains underleveraged.

Remittance costs remain above the SDG target of 3 per cent. Financial and digital inclusion gaps continue to affect women, youth, and rural populations.

Factors such as the remoteness of rural areas, poor infrastructure, and limited information about investment opportunities pose additional barriers to maximizing the development impact of remittances and diaspora investments. With only a few years left to achieve the SDGs, now is the time to move from commitments to action-and for this IMRF Progress Declaration to place stronger focus on rural areas, financial inclusion, and resilience.

We therefore call on Member States and stakeholders at this IMRF to:

• Accelerate efforts to reduce remittance costs,
• Expand financial and digital inclusion, especially in rural areas, including for women and youth,
• Promote the productive use of remittances, including through financial literacy and remittance-linked financial services combined with technical training, while addressing barriers and constraints faced by those who stay behind in accessing land, other productive resources and markets,
• Strengthen data and evidence on remittances costs, flows, access and impact, as well as on diaspora investment preferences, instruments and amounts,
• Create enabling environments, including in rural areas, for structured diaspora investments and skills transfer in agrifood systems,
• Engage and facilitate the meaningful participation of diaspora in planning and programming linked to agrifood system transformation and climate action,
• Explore ways to leverage remittances for climate resilience, supporting smallholder farmers and rural communities.

Finally, we invite all Member States and partners to join the 2026 International Day of Family Remittances campaign, focused on "Remittances for rural resilience, entrepreneurship and employment", and to translate this momentum into concrete results.

Let us ensure that the 2026 IMRF Progress Declaration fully reflects today's reality-recognizing remittances and diaspora investment as essential drivers of financial inclusion, rural transformation, climate resilience, and sustainable development.

Thank you.