Remittances represent a major source of income for millions of families and businesses globally, and are an important pathway to financial inclusion.
In 2014, G20 Leaders agreed to the G20 Plan to Facilitate Remittance Flows through which they committed to implement the National Remittance Plans (NRPs) outlining country-led actions supporting effective remittance flows and reducing remittance transfer costs. The G20 NRPs were finalized under Turkey's Presidency in 2015 along with a monitoring framework, which outlines that the GPFI will review progress on the NRPs annually and update these plans every two years.
Timeline of the G20 work on National Remittances
Update of the 2021 G20 National Remittances Plans
- European Commission
- United States
- United Arab Emirates