IFAD at the Global Forum on Migration and Development in Puerto Vallarta, Mexico - some considerations

There has been something remarkable about the latest GFMD. Governments are gradually quitting to consider concepts such as migrant rights and mobility as “sylos ideas” and starting to integrate a perspective based on concrete data on migrant flows, remittances, and migrant capital. They are starting considering migrants as integral part of the labor capital of the destination country. They are now discussing broader considerations on the development potential of migrant entrepreneurship and investment initiatives. Since it was created, the Financing Facility for Remittances (FFR) has been striving to convey this simple concept: that the untapped potential of remittances lies in the possibility of giving remittance recipients more options to make use of their money. It is therefore nice to see that head of States, gathered here in Puerto Vallarta, are adopting the same perspective while discussing their future approach to migration and development policies.

I attended today the last session of the Forum, where the future of the initiative was discussed. I was pleased to witness that heads of States are interested in showcase (and be showcased) a set of best practices to foster development through migrant capital. The FFR has initiated a number of pilot programmes dealing with migrant investment and entrepreneurship all across the globe. We are committed to making the best use of this experience and will continue participating in this type of events, which truly represent an excellent occasion for knowledge generation.

On a side note, the Forum was also a good opportunity for the FFR to broaden its relationship network with partner institutions. We are interested in getting more and more familiar with the demand, in terms of technical support, from the small organizations dealing with remittances and development. We consider it essential to build on the feedback we received on our operations to draft our next action plan for the period 2011-2013. In this sense, the Forum constituted a unique opportunity get more concrete elements to define our future strategy and broaden our horizons on our way forward.