Human rights of migrants in the post-2015 development agenda 2014, para. 74
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With regard to remittances, the World Bank estimates that $436 billion will be sent as remittances in 2014. Private money transfers play a role in increasing household incomes and ultimately improving health and educational outcomes in countries of origin. Consequently, a target on reducing to less than 3 per cent the transaction costs of migrant remittances, as suggested by the Open Working Group on Sustainable Development Goals, would go a long way to improving the economic status of families. Reducing the cost of sending remittances should not, however, be used in lieu of a national policy for poverty reduction, taking into account that remittances are privately owned sums of money.
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Non-negotiated soft law
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Special Rapporteur on the human rights of migrants