PH Stresses Importance of Remittances for Achieving Sustainable Development Goals

02 August 2017 NEW YORK — Harnessing and maximizing remittances for the achievement of the Sustainable Development Goals is not just critical but logical for the Philippines’ development planning processes.

This was underscored by Permanent Representative to the United Nations in Geneva, H.E. Mr. Evan Garcia, at the panel discussion on “Migrants Contributions to the SDGs: Family Remittances and Investment,” held on July 25 at UN Headquarters in New York.

Noting that the $29.9 billion remitted by overseas Filipinos in 2016 is far higher than the $15.71 billion Official Development Assistance (ODA) received from development partners, Ambassador Garcia said that the concerns of migrants and their families are deeply integrated into the Philippine Development Plan 2017-2022. He emphasized that the comprehensive approach to migration of the Philippines, which is well recognized and much applauded globally, is firmly anchored on three pillars: “empowerment through rights; capacitation (capacity-building); and international cooperation” at all levels and among all sectors. He also called for the reduction of remittance costs, as high fees hamper the full development potential of remittances.

The panel discussion was held during the 4th Thematic Session on the Global Compact for Migration, which focused on the linkages between migration and development. It was co-hosted by the Philippines with Madagascar, International Fund for Agricultural Development (IFAD), UN Department of Economic and Social Affairs (DESA) and the UN Capital Development Fund CDF).