Amina J. Mohammed

Distinguished guests, ladies and gentlemen,

I am honored to speak to you today about the vital role that remittances play in building a better, more sustainable world.

Remittances—money sent by migrants to their families back home—are more than just financial transactions. They are a powerful tool that can help us achieve the United Nations’ Sustainable Development Goals, the blueprint for a fairer, safer, and more prosperous world by 2030.

Each year, hundreds of billions of dollars flow as remittances to developing countries. This money supports families, helps children go to school, improves health care access, and empowers communities to grow stronger and more resilient.

In many places, remittances exceed foreign aid or direct investment, making them one of the most significant sources of external funding. They reach people who are often outside the reach of traditional development programs, directly touching the lives of the vulnerable and marginalized.

Because of this, reducing the cost and increasing the efficiency of remittance flows must be a global priority. High fees and slow transfer processes reduce the impact of these funds and limit their potential to contribute fully to development.

We also recognize that promoting financial inclusion is essential. When families receiving remittances can access formal financial services—such as banking, credit, and insurance—they gain opportunities to invest in their futures and protect themselves against shocks.

Achieving the Sustainable Development Goals requires partnerships across governments, private sector, civil society, and international organizations. Together, we must harness the power of remittances as a catalyst for economic growth, poverty reduction, and social development.

Let us commit to lowering remittance costs, enhancing transparency, and leveraging technology to make sending and receiving money easier and safer for all.

By doing so, we empower millions of families around the world to create better lives and contribute meaningfully to the global agenda for sustainable development..