The International Fund for Agricultural Development (IFAD) and the African Development Bank (AfDB) in collaboration with the Inter-American Dialogue (IAD) organized the Global Forum on Remittances 2009, held in Tunis on 22 and 23 of October 2009, at the Laico Tunis Hotel.
The Global Forum on Remittances 2009 was the third in a series of groundbreaking conferences dedicated to highlighting the importance of international migration and the vital flow of remittances that result. The conference is part of a series of events devoted to the creation of
worldwide synergies among government, civil society and the private sector stakeholders that are key to maximizing the development impact of migration. The importance of this process is further highlighted by the Group of Eight’s explicit call on reducing the cost of remittances by 50 per cent over the next five years.
During this time of economic instability, the relative resilience of remittances as an international flow is a stabilizing force for many nations. At the same time, the ability of migrant workers to surmount the economic challenges they face is a testament to their dedication to send money home.
With global attention in the field of remittances shifting towards Africa, the Global Forum on Remittances 2009 focused on the African remittance market and the role of regulatory frameworks and the private sector in maximizing the micro, local and national impacts of remittances. The conference was a follow-up to the forums held in 2005 and 2007, each of which was attended by more than 500 individuals. A Remittances, Business Models and Technology Fair took place in parallel with the Forum and provided private-sector entities and other stakeholders with an opportunity to exhibit their products and services. The Fair also served as a venue for interaction with other key remittance market players from the public and private sectors and civil society. More than 200 participants from the region and experts from around the world attended.