IFAD / DAY OF FAMILY REMITTANCES
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STORY: IFAD / DAY OF FAMILY REMITTANCES
TRT: 3:31
SOURCE: IFAD
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 14 AND 16 JUNE 2023, NAIROBI KENYA / FILE
SHOTLIST:
16 JUNE 2023, NAIROBI, KENYA
1. Wide shot, plenary hall at 2023 Global Forum on Remittances Investment and Development
2. Med shot, IFAD President Alvaro Lario shaking hands to delegates
3. Close up, elegate listening
4. Wide shot, IFAD President Alvaro Lario speaking to plenary
14 JUNE 2023, NAIROBI, KENYA
5. SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“In 2022, $647 billion were registered in formal remittance flows to low and middle income countries. These figures represent more than three times official development assistance. Let me repeat it, more than three times official development assistance. Remittances flows are also higher than foreign direct investment in almost every developing country. Half of these flows go to rural areas where poverty and hunger are concentrated and where remittances make the most difference to people's lives.”
FILE - ROME, ITALY
6. Med shot, Man entering money transfer office
7. Close up, money transfer sign
8. Med shot, men at money transfer counter
9. Close up, banknotes counting machine
FILE - EGYPT
10. Med shot, doctor visiting child
FILE - BANGLADESH
11. Med shot, young man studying and underlying pages on book
FILE - BRAZIL
12. Wide shot, woman buying lettuce
14 JUNE 2023, NAIROBI, KENYA
13. SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“They help people improve their health and nutrition and keep their children in school. In some cases, remittances are used to improve housing and sanitation, and they enable people to acquire assets, start businesses and strengthen their livelihoods. That way, they're contributing to improving livelihoods and stronger resilience. In short, remittances are fundamental to achieving all of the SDGs.”
FILE - SRI LANKA
14. Close up, sign inside bank saying (English): “Account Opening / Remittances)
15. Wide shot, tilt down from sign to people at counter
16. Med shot, clerk counting money
17. Med shot, woman collecting money
FILE - KENYA
18. Med shot, people making digital payment via smartphone
19. Close up, smartphone showing digital payment
FILE - GUATEMALA
20. Med shot, woman signing on tablet
21. Close up, signature on tablet
FILE - KENYA
22. Various shots, smartphone showing mobile banking apps
16 JUNE 2023, NAIROBI, KENYA
23. SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“We need to be on the lookout to maximize really the opportunities of digitalizing remittances, which in terms equates to digitalize other financial services, makes them much easier in rural areas.”
FILE, MADAGASCAR
24. Wide shot, cart of hay and rice pulled by cattle
25. Wide shot, Rice farmer drying rice
26. Close up, POS payment machine
27. Wide shot, rice farmer using digital payment
16 JUNE 2023, NAIROBI, KENYA
28. SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“The money is there. We have the proof that it works. It's just a mindset change. And this is why we believe that the connection with the SDGs of and our deadline of 2030 could really benefit from integrating migrant contributions toward that end.”
16 JUNE 2023, ROME, ITALY
29. Close up, UN Flag
30. Wide shot, IFAD Headquarters
STORYLINE:
June 16 marks the International Day of Family Remittances, led by the UN’s International Fund for Agricultural Development (IFAD).
For countless people, remittances – or funds that migrants send home to their families – are a lifeline.
Millions of families receive around US$ 200 each month in remittances, with about half of the international transfers estimated to go to rural people.
This may seem like a small amount—but one billion people worldwide are either sending or receiving remittances and taken together, these money flows are three times greater than global official development assistance.
SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“In 2022, $647 billion were registered in formal remittance flows to low and middle income countries. These figures represent more than three times official development assistance. Let me repeat it more than three times. Official development assistance remittances flows are also higher than foreign direct investment in almost every developing country. Half of these flows go to rural areas where poverty and hunger are concentrated and where remittances make the most difference to people's lives.”
Even in times of crisis, the hard-earned money sent home remains a reliable source of income for millions of individuals and families across the world.
Remittances allow families to fight poverty, put food on the table, pay medical and education expenses and improve their housing, water and sanitation.
SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“They help people improve their health and nutrition and keep their children in school. In some cases, remittances are used to improve housing and sanitation, and they enable people to acquire assets, start businesses and strengthen their livelihoods. That way, they're contributing to improving livelihoods and stronger resilience. In short, remittances are fundamental to achieving all of the SDGs.”
While migrants mostly send money to cover basic needs, it is estimated that recipients manage to either save or invest 25 per cent of the money they receive.
One-quarter of these savings (US$25 billion annually) goes into agriculture-related investments.
Today, more service providers are offering financial services and products for rural people and are reaching out to vulnerable groups, like women and youth.
But with transfer costs still remaining well above the SDG 10.c target of 3 percent, there remains a huge untapped opportunity for banking the unbanked and leveraging these investments into effective development of financially sustainable and independent livelihoods.
According to Pedro de Vasconcelos, the opportunity lies in digital money.
SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“We need to be on the lookout to maximize really the opportunities of digitalizing remittances, which in terms equates to digitalize other financial services, makes them much easier in rural areas.”
However, digital isn’t a one-size-fits-all solution. Products and services should be designed to suit the digital access and literacy of users, for instance using text messages where smartphone penetration is low or simple short digit sequences for people who are not literate in the local language, as well as initiatives to build digital and financial literacy.
SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“The money is there. We have the proof that it works. It's just a mindset change. And this is why we believe that the connection with the SDGs of and our deadline of 2030 could really benefit from integrating migrant contributions toward that end.”
Since 2006, IFAD has co-funded over 70 projects in more than 50 countries focused on providing opportunities for remittance-receivers and their communities. IFAD has built a network of some 230 partners on the ground from the public sector, private sector and civil society, benefitting at least two million people.
TRT: 3:31
SOURCE: IFAD
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 14 AND 16 JUNE 2023, NAIROBI KENYA / FILE
SHOTLIST:
16 JUNE 2023, NAIROBI, KENYA
1. Wide shot, plenary hall at 2023 Global Forum on Remittances Investment and Development
2. Med shot, IFAD President Alvaro Lario shaking hands to delegates
3. Close up, elegate listening
4. Wide shot, IFAD President Alvaro Lario speaking to plenary
14 JUNE 2023, NAIROBI, KENYA
5. SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“In 2022, $647 billion were registered in formal remittance flows to low and middle income countries. These figures represent more than three times official development assistance. Let me repeat it, more than three times official development assistance. Remittances flows are also higher than foreign direct investment in almost every developing country. Half of these flows go to rural areas where poverty and hunger are concentrated and where remittances make the most difference to people's lives.”
FILE - ROME, ITALY
6. Med shot, Man entering money transfer office
7. Close up, money transfer sign
8. Med shot, men at money transfer counter
9. Close up, banknotes counting machine
FILE - EGYPT
10. Med shot, doctor visiting child
FILE - BANGLADESH
11. Med shot, young man studying and underlying pages on book
FILE - BRAZIL
12. Wide shot, woman buying lettuce
14 JUNE 2023, NAIROBI, KENYA
13. SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“They help people improve their health and nutrition and keep their children in school. In some cases, remittances are used to improve housing and sanitation, and they enable people to acquire assets, start businesses and strengthen their livelihoods. That way, they're contributing to improving livelihoods and stronger resilience. In short, remittances are fundamental to achieving all of the SDGs.”
FILE - SRI LANKA
14. Close up, sign inside bank saying (English): “Account Opening / Remittances)
15. Wide shot, tilt down from sign to people at counter
16. Med shot, clerk counting money
17. Med shot, woman collecting money
FILE - KENYA
18. Med shot, people making digital payment via smartphone
19. Close up, smartphone showing digital payment
FILE - GUATEMALA
20. Med shot, woman signing on tablet
21. Close up, signature on tablet
FILE - KENYA
22. Various shots, smartphone showing mobile banking apps
16 JUNE 2023, NAIROBI, KENYA
23. SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“We need to be on the lookout to maximize really the opportunities of digitalizing remittances, which in terms equates to digitalize other financial services, makes them much easier in rural areas.”
FILE, MADAGASCAR
24. Wide shot, cart of hay and rice pulled by cattle
25. Wide shot, Rice farmer drying rice
26. Close up, POS payment machine
27. Wide shot, rice farmer using digital payment
16 JUNE 2023, NAIROBI, KENYA
28. SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“The money is there. We have the proof that it works. It's just a mindset change. And this is why we believe that the connection with the SDGs of and our deadline of 2030 could really benefit from integrating migrant contributions toward that end.”
16 JUNE 2023, ROME, ITALY
29. Close up, UN Flag
30. Wide shot, IFAD Headquarters
STORYLINE:
June 16 marks the International Day of Family Remittances, led by the UN’s International Fund for Agricultural Development (IFAD).
For countless people, remittances – or funds that migrants send home to their families – are a lifeline.
Millions of families receive around US$ 200 each month in remittances, with about half of the international transfers estimated to go to rural people.
This may seem like a small amount—but one billion people worldwide are either sending or receiving remittances and taken together, these money flows are three times greater than global official development assistance.
SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“In 2022, $647 billion were registered in formal remittance flows to low and middle income countries. These figures represent more than three times official development assistance. Let me repeat it more than three times. Official development assistance remittances flows are also higher than foreign direct investment in almost every developing country. Half of these flows go to rural areas where poverty and hunger are concentrated and where remittances make the most difference to people's lives.”
Even in times of crisis, the hard-earned money sent home remains a reliable source of income for millions of individuals and families across the world.
Remittances allow families to fight poverty, put food on the table, pay medical and education expenses and improve their housing, water and sanitation.
SOUNDBITE (English) Alvaro Lario, President of International Fund for Agricultural Development (IFAD):
“They help people improve their health and nutrition and keep their children in school. In some cases, remittances are used to improve housing and sanitation, and they enable people to acquire assets, start businesses and strengthen their livelihoods. That way, they're contributing to improving livelihoods and stronger resilience. In short, remittances are fundamental to achieving all of the SDGs.”
While migrants mostly send money to cover basic needs, it is estimated that recipients manage to either save or invest 25 per cent of the money they receive.
One-quarter of these savings (US$25 billion annually) goes into agriculture-related investments.
Today, more service providers are offering financial services and products for rural people and are reaching out to vulnerable groups, like women and youth.
But with transfer costs still remaining well above the SDG 10.c target of 3 percent, there remains a huge untapped opportunity for banking the unbanked and leveraging these investments into effective development of financially sustainable and independent livelihoods.
According to Pedro de Vasconcelos, the opportunity lies in digital money.
SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“We need to be on the lookout to maximize really the opportunities of digitalizing remittances, which in terms equates to digitalize other financial services, makes them much easier in rural areas.”
However, digital isn’t a one-size-fits-all solution. Products and services should be designed to suit the digital access and literacy of users, for instance using text messages where smartphone penetration is low or simple short digit sequences for people who are not literate in the local language, as well as initiatives to build digital and financial literacy.
SOUNDBITE (English) Pedro de Vasconcelos, IFAD Financing Facility for Remittances:
“The money is there. We have the proof that it works. It's just a mindset change. And this is why we believe that the connection with the SDGs of and our deadline of 2030 could really benefit from integrating migrant contributions toward that end.”
Since 2006, IFAD has co-funded over 70 projects in more than 50 countries focused on providing opportunities for remittance-receivers and their communities. IFAD has built a network of some 230 partners on the ground from the public sector, private sector and civil society, benefitting at least two million people.
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Creator
IFAD
Alternate Title
unifeed230616e
Asset ID
3059930