Wednesday, June 14, 2023

The Global Forum on Remittances, Investment and Development Summit 2023 Africa

14–16 June 2023. 
Nairobi. The Global Forum on Remittances, Investment and Development Summit 2023 Africa is co-organized by the International Fund for Agricultural Development (IFAD), the United Nations’ Office of the Special Adviser on Africa (OSAA) and the World Bank.

As part of the ongoing GFRID process, the Summit is a continuation of the previous forum, held virtually in 2021, and the observance events of the International Day of Family Remittances (IDFR), held in Ghana, Kenya, South Africa and The Gambia in June 2022.

The Summit will be a key milestone in laying the ground for the upcoming SDG Summit, later in 2023, and the next Implementation Review of the Global Compact for Safe, Orderly and Regular Migration (GCM).

The GFRID Summit 2023 aims at: 
  • creating a process for continuous engagement among key African and global public and private sector representatives, as well as the civil society; 
  • promoting both African and global best practices to reduce the cost of remittances, while fostering financial inclusion through market competition, innovative business models and the use of disruptive technologies; and 
  • developing multi-stakeholder strategies and partnerships to scale up successful financial vehicles involving migrant/diaspora contributions, through investment and entrepreneurship; 
  • contributing to global processes on remittances, investment and development, i.e. achievement of the Sustainable Development Goals (SDGs) and implementation of the Global Compact on Migration, among others.
The diaspora impact investment sessions reviewed existing and emerging government and private sector-led investment vehicles and focused on challenges to reach out and cater to diverse diaspora profiles. This includes diaspora investment priorities such as agriculture and climate adaptation.

Several sessions were dedicated to the link between remittances and climate adaptation.

  • Migrants’ contribution to climate adaptation and resilience: towards a new paradigm?
  • Remittances and diaspora investment for climate adaptation and ecosystem restoration.
  • Bridging diaspora investment with climate finance: practical cases.


Extracts of the programme:


14/06 RESCUING THE SDGS BY 2030: EMPOWERING ONE BILLION REMITTANCE FAMILY MEMBERS



Ugochi 
Daniels 
Designated Network Coordinator and Deputy Director General for Operations of the International Organization for Migration (IOM), 
United Nations Migration Network 
Dr Patrick Ngugi 
Njoroge 
Governor, 
Central Bank of Kenya 
Gopinath 
Prahlada Char Tulasi 
Advisor, Department of Economic Policy and Research, 
G20/GPFI Presidency 2023, Reserve Bank of India 
Jutta 
Urpilainen 
Commissioner for International Partnerships, 
European Commission 

We need to bring remittances at the core of the development debate, while underlining their link to the climate change challenge. We need to team up to encourage more productive use of remittances. The European Commission considers the Global Forum on Remittances Investment and Development, a central venue for advancing the overall remittances action agenda. Jutta Urpilainen

14/06 HARNESSING THE POWER OF MIGRANTS: MISCONCEPTIONS AND OPPORTUNITIES

This panel addressed migrants and diasporas’ financial capability, expectations and ambitions; commensurate interventions and policies; opportunities in plain sight.


Pedro 
De Vasconcelos 
Lead Technical Specialist and Manager of the Financing Facility for Remittances, 
International Fund for Agricultural Development (IFAD) 
Liwaaddine 
Fliss 
Programme Management Officer, 
United Nations Office of Special Advisor for Africa (UN OSAA) 
Almaz 
Negash 
Chief Executive Officer and Founder, 
African Diaspora Network 
Dare 
Okoudjou 
Chief Executive Officer, 
MFS Africa 
Dilip 
Ratha 
Lead Economist, Migration and Remittances and Head of Knomad, 
World Bank 

14/06 MIGRANTS’ CONTRIBUTION TO CLIMATE ADAPTATION AND RESILIENCE: TOWARDS A NEW PARADIGM?


Louise 
Baker 
Managing Director, 
Global Mechanism of the United Nations Convention to Combat Desertification (UNCCD) 



In Africa the restoration process is taking the form of the Great Green wall. It's a massive African led Multiset sector Integrated Development Program. At the one planet Summit, 19 billion US dollars was  pledged for implementation.  It links Europe and Africa around the 3 issues: resilience, land, and migration. In this context the three Ss approach was born with a view of boosting security, stability and sustainability in Africa. It's grounded on the idea that no one should be forced to abandon their home because of land degradation and drought. And that by restoring the land and by building resilience, we offer communities the chance to stay, to invest and to bring their lands back to life. Because well managed land is a buffer against soaring temperatures, drought and floods. But despite our best efforts, many dryland areas are and will become unlivable. Environmentally induced, forced migration will increase and migration can of course, be an adaptation strategy. Louise Baker, Managing Director of the Global Mechanism of the United Nations Convention to Combat Desertification (UNCCD).

14/06 SUSTAINABILITY, STABILITY AND SECURITY IN AFRICA: REMITTANCES AND DIASPORA INVESTMENT FOR CLIMATE ADAPTATION AND ECOSYSTEM RESTORATION


This panel discussed the importance of data: its collection and use; data towards policy impact and coherence; investment and strategic decisions in the remittance and investment sectors

Safia 
Boly 
Executive Director, 
African Agricultural Transformation Initiative (AATI) 
Pedro 
De Vasconcelos 
Lead Technical Specialist and Manager of the Financing Facility for Remittances, 
International Fund for Agricultural Development (IFAD) 
Dr Peter 
Johnston 
Climate Scientist focused on Africa, 
University of Cape Town South Africa 
Isabel 
Leroux 
Programme Manager, 
Nordic Development Fund 
Zachary 
Levey 
Chief Executive Officer, 
Levoca Impact Labs 
Steven 
Wilson 
Adjunct Professor and Climate Change Expert, 
Georgetown University United States 


14/06 MAKING DIASPORA INVESTMENT MARKET-ORIENTED


This panel discussed: Common traits of diaspora investment; Identifying the right product(s) for the right segment(s); New opportunities for pooling diaspora resources.

Killian 
Clifford 
Senior Specialist, Migrant financial and economic empowerment, 
IOM 
Eric 
Guichard 
Founder and Chief Executive Officer, 
Homestrings 
Elizabeth 
Howard 
Chief Executive Officer and Founder, 
African Crowdfunding Association 
Frédéric 
Ponsot 
Senior Technical Specialist, Remittances, Diaspora and Inclusive Finance, FFR, 
International Fund for Agricultural Development (IFAD) 
Jonas 
Tesfu 
Founding Trustee, 
Pangea Trust 



15/06 BRIDGING DIASPORA INVESTMENT WITH CLIMATE FINANCE: PRACTICAL CASES

This panel discussed: Diaspora and climate finance linkages; from anecdotical data to evidence-based strategies; scaling-up existing adaptative diaspora investments.

Andrew 
Bamugye 
Executive Secretary, 
Ugandan Diaspora Agribusiness Network (UDAN) 
Sokhna Mbaye 
Diop 
Technical Advisor, 
Ministry of Agriculture of Senegal 
Mauro 
Martini 
Senior Technical Specialist, Remittances, Migration and Development, FFR, 
International Fund for Agricultural Development (IFAD) 
Fridah 
Ntarangwi Kimathi 
Founder and Director, 
ZidiCircle 
Steven 
Wilson 
Adjunct Professor and Climate Change Expert, 
Georgetown University United States 

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