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Update of the 2021 G20 National Remittance Plans
In 2021, the GPFI carried out the third review of G20 National Remittance Plans (NRPs), following a new template devised by the WB and IFAD to adequately take into account the developments occurred during (and because of) the COVID-19 pandemic crisis as well as the G20 Roadmap on cross-border payments.
The revised National Remittance Plans were delivered in 2021:
Update of the 2019 G20 National Remittance Plans
- Increase remittance market competitiveness;
- Improve financial system infrastructure and pursue policies conducive to harnessing emerging technologies;
- Discourage taxes on migrant remittance transfers; and
- Improve transparency and consumer protection of remittance transfer services.
The revised National Remittance Plans were delivered in 2019:
Non-G20 GPFI countries being a large source of remittance outflows worldwide are also encouraged to share information on their national remittance measures to enable cross-border remittance flows:
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In 2017, the GPFI carried out the first review of G20 National Remittance Plans (NRPs). Through this process, G20 countries outlined actions towards improving the environment for remittances against the following areas:
- Increase remittance market competitiveness;
- Improve financial system infrastructure and pursue policies conducive to harnessing emerging technologies;
- Discourage taxes on migrant remittance transfers; and
- Improve transparency and consumer protection of remittance transfer services.
Countries also addressed key G20 commitments of recent years in their NRPs, including the 2030 Agenda and the G20 High Level Principles for Digital Financial Inclusion.
For the first time, non-G20 countries were also encouraged to develop NRPs or policy actions aimed at improving and enhancing remittances flows alongside G20 countries.
For the 2017 G20 National Remittance Plan Overview view here.
The revised National Remittance Plans were delivered under Germany’s G20 Presidency in 2017:
Update to Leaders
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For the 2020 Update to Leaders on Progress Towards the G20 Remittance Target view here.
For the 2019 Update to Leaders on Progress Towards the G20 Remittance Target view here.
For the 2018 Update to Leaders on Progress Towards the G20 Remittance Target view here.
For the 2017 Update to Leaders on Progress Towards the G20 Remittance Target view here.
For the 2016 Update to Leaders on Progress Towards the G20 Remittance Target view here.
G20 National Remittance Plans - per country
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In September 2014, G20 leaders agreed to a plan to facilitate remittance flows including: working to reduce the global average cost of transferring remittances to five percent; supporting country-led actions to address the cost, and improve the availability of remittance services, particularly for poor people; and using remittance flows to drive financial inclusion and development.
The G20 National Remittance Plans were finalized under the Turkish G20 Presidency in 2015: