G20 Development Working Group Submissions
Action 2. Facilitate the Flow of International Remittances
57. "Ask the World Bank, RDBs
and other relevant organizations,
including the Global Remittances
Working Group, to work with
individual G20 members
and non-G20 members in
order to advance further the
implementation of the General
Principles for International
Remittance Services and related
international initiatives aimed
at a quantified reduction of
the global average cost of
transferring remittances" (2010
MYAP).
58. "Work to reduce the average
cost of transferring remittances
from 10% to 5% by 2014"
(2011 Leaders' Declaration).
October 2011: The launch of G20
Remittances Toolkit on the General Principles for
International Remittances.
Some G20 members work with IOs on
actions to reduce costs e.g. price comparison
websites (www.sendmoneyhome.com, www.
sendmoneypacific.org, www.sendmoneyasia.
org, www.mandasoldiacasa.it, www.
envoidargent.fr) and funding the World Bank
Remittances Trust Fund and the AfDB's migration
and development initiative.
July 2013: Many G20 members now
agree to take at least one action to help reduce the
global average cost.
May 2012: A DWG report encourages the
use of the G20 remittances toolkit and welcomes
efforts to monitor global progress by reporting to the
DWG every 6 months.
ā Completed:
further G20
implementation is
required
T: Nov 2011
Cannes Summit
Off-track:
Some
implementation
has been
achieved, but
progress is
slow and G20
members could
take further
actions.
*
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http://www.unglobalpulse.org/pulse-lab/jakarta
http://www.social-protection.org/gimi/gess
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* http://www.socialprotection.org/
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