Migration, Diasporas and the Sustainable Development Goals in Least Developed Countries
Barbados - 31 October 2018
Trade topics: Trade and Development
Migration and the growth of global diasporas are key contemporary trends which impact on the pledge to “leave no one behind” in the 2030 Agenda. The developmental potential of migration is captured in four Goals and five Targets in the Sustainable Development Goals (SDGs). The paper offers critical perspectives on the SDGs targets with a discussion on the economic challenges as well as the opportunities for trade and entrepreneurship. The focus is particularly on remittances (including South-South remittances) and other financial investments such as diaspora savings and bonds. The second area of analysis is financial innovation through the growth of money transfer organizations in LDCs (i.e. Haiti, Tonga and Bangladesh) and the rise of mobile money. The paper also discusses the impact of these trends on financial inclusion and the banking of unbanked populations, and concludes with key recommendations and insights.