United Nations General Assembly A/RES/60/206 Distr.: General 16 March 2006 Sixtieth session Agenda item 54 (c) Resolution adopted by the General Assembly on 22 December 2005 [on the report of the Second Committee (A/60/490/Add.3)] 60/206. Facilitation and reduction of the cost of transfer of migrant remittances The General Assembly, Recalling its resolutions 58/208 of 23 December 2003 and 59/241 of 22 December 2004, Acknowledging the important nexus between international migration and development and the need to deal with the challenges and opportunities that migration presents to countries of origin, destination and transit, and recognizing that migration brings benefits as well as challenges to the global community, Recognizing that remittance flows constitute sources of private capital and that remittances have increased over time, complement domestic savings and are instrumental in improving the well-being of recipients, Recognizing also that remittance flows constitute one of the important aspects of international migration and that they particularly benefit the households of migrants and could impact the economies of recipient countries, Recognizing further that there is a need to address and to promote conditions for cheaper, faster and safer transfers of remittances in both source and recipient countries, and the need to facilitate the potential of their productive use in recipient countries by beneficiaries that are willing and able to do so, Noting that, despite some recent initiatives to facilitate and to reduce the costs of remittance transfers, the costs incurred by migrants remain high and could be reduced, Noting also the fact that many migrants without access to regular financial services may resort to informal means of transferring remittances, 1. Reaffirms the importance of reducing the transfer costs of migrant remittances, facilitating their flow and, as appropriate, encouraging opportunities for development-oriented investment in recipient countries by beneficiaries that are willing and able to do so; Encourages Governments and other relevant stakeholders to consider 2. adopting measures, in accordance with national legislation, that facilitate migrant remittance flows to recipient countries, including through, inter alia: 05-49996