1. Leveraging Remittances for Development Dilip Ratha World Bank OAS, Washington, DC April 17, 2012

2. After a modest decline in 2009, remittances have grown steadily, reaching $370 bn in 2011 Source: Migration and Remittances Unit, World Bank

3. Remittance flows to developing countries $ billion 20102011e2012f2013f2014f Developing countries 330370397428464 East Asia and Pacific 95107115125135 Europe and Central Asia 3741454955 Latin Amer. & Caribbean 5762667277 Middle-East and North Africa 3840424447 South Asia 8297104113122 Sub-Saharan Africa 2122242527 Growth rate (%) Developing countries 7.0%12.2%7.3%7.8%8.4% East Asia and Pacific 10.6%12.6%7.3%8.0%8.7% Europe and Central Asia 0.3%12.6%8.8%10.1%11.4% Latin America and Caribbean 0.9%7.7%7.6%7.9%8.2% Middle-East and North Africa 12.4%6.1%5.1%5.3%5.5% South Asia 9.5%18.2%7.4%7.9%8.4% Sub-Saharan Africa 1.9%8.5%6.3%6.8%7.4%

4. Remittance to Latin American countries have started growing after sharp decline during financial crisis

5. International Remittances Agenda 1. Monitoring, analysis, projection 2. Retail payment systems 3. Financial access 4. Capital market access

6. International Remittances Agenda 1. Monitoring, analysis, projection -Size, corridors, channels -Counter-cyclicality -Effects on poverty, education, health, investment -Policy (costs, competition, exchange controls) 2. Retail payment systems -Payment platforms/instruments -Regulation (clearing and settlement, capital adequacy, exchange controls, disclosure, cross- border arbitration) -Anti-money laundering/Countering financing of terrorism (AML/CFT) 3. Financial access -Deposit and saving products -Loan products (mortgages, consumer loans, microfinance) -Credit history for MFI clients -Insurance products 4. Capital market access -Private banks and corporations (securitization) -Governments (diaspora bonds) -Sovereign credit rating

7. Global Knowledge Partnership on Migration and Development

8. Objectives  An open, multidisciplinary platform  Generate a menu of policy choices based on evidence and peer-review  Pilot policy operations and capacity building efforts

9. M IGRATION AND D EVELOPMENT Data on migration and remittance flows Skilled labor migration Unskilled labor migration Integration issues in host communities Policy and institutional coherence Migrant rights and social aspects Demographic changes and migration Remittance s Mobilizing other diaspora resources Climate change and migration Rural-urban migration and urbanization Migration and security

10. Outputs of Migration Knowledge Platform  Analytical research products  Operational toolkits, fact books  Web-based anthologies, archives, blogs  Best practices: A menu of policy choices for the policy makers  Few pilot projects and capacity building activities

11. Data and other resources are available at www.worldbank.org/migration