Day 1
Remittances and diaspora investment: Key socio-economic forces in Africa
Opening of the GFRID Summit 2023
Alvaro Lario is President of the International Fund of Agricultural Development (IFAD). A seasoned international development finance leader, he has more than 20 years of experience across academia, private sector asset management, World Bank Group and the United Nations, including as Associate Vice-President of Financial Operations at IFAD.
Under his stewardship, IFAD became the first United Nations Fund to enter the capital markets and obtain a credit rating, enabling the IFAD to expand resource mobilization efforts to the private sector.
Before joining the Fund in early 2018, he was the Treasury Capital Markets Lead and Principal Portfolio Officer at the International Finance Corporation, part of the World Bank Group, where he focused on local capital markets development and emerging markets investments.
President Lario received a PhD in Financial Economics from the Complutense University of Madrid after completing a Master of Research in Economics at the London Business School and a Master of Finance from Princeton University.
Rescuing the SDGs by 2030: empowering one billion remittance family members
Harnessing the power of migrants: misconceptions and opportunities
Pedro de Vasconcelos joined IFAD in 2007 as Programme Manager of the multi-donor Financing Facility for Remittances (FFR) and is IFAD’s Senior Technical Specialist – Coordinator, Financing Facility for Remittances (FFR). The US$62 million Facility, under his leadership, has tested and scaled innovative approaches on migration and economic development by maximizing the impact of remittances and migrant investment on development. He is an internationally recognized expert in his field and contributes actively to national, regional and global policy agendas (G7/20, GFMD, and IFAD’s Global Forums on Remittances, Investment and Development, among others) placing remittances, migration, financial inclusion on the global agendas of major development institutions and governments. He is also the lead author of the biannual IFAD flagship publication Sending Money Home and originator and coordinator of IFAD’s International Day of Family Remittances (IDFR). De Vasconcelos’ areas of expertise range from financial inclusion for development (remittances, payments systems, investments), migration and entrepreneurship, SME development and finance. Before joining the Fund, De Vasconcelos designed, launched and managed the Inter-American Development Bank’s Multilateral Investment Fund’s (FOMIN) strategy and programme on remittances and migrant investment. He also launched and coordinated FOMIN’s ICT for development programme. From 1998 to 2000, De Vasconcelos served at the United Nations Conference on Trade and Development (UNCTAD) in Geneva. De Vasconcelos holds a Bachelor’s Degree in International Business from the University of Toulouse-France and a Master’s Degree in International Business and Management from the University of Paris IV, La Sorbonne. He represents IFAD at the G20 Global Partnership for Financial Inclusion (GPFI), the Global Forum on Migration and Development (GFMD) and the United Nations’ Global Migration Group (GMG).
Round table, discussion points:
- Addressing migrants and diasporas’ financial capability, expectations and ambitions;
- Commensurate interventions and policies;
- Opportunities in plain sight.
RemitSCOPE: Remittances to and from Africa – market landscape 2023 and beyond
Pedro de Vasconcelos joined IFAD in 2007 as Programme Manager of the multi-donor Financing Facility for Remittances (FFR) and is IFAD’s Senior Technical Specialist – Coordinator, Financing Facility for Remittances (FFR). The US$62 million Facility, under his leadership, has tested and scaled innovative approaches on migration and economic development by maximizing the impact of remittances and migrant investment on development. He is an internationally recognized expert in his field and contributes actively to national, regional and global policy agendas (G7/20, GFMD, and IFAD’s Global Forums on Remittances, Investment and Development, among others) placing remittances, migration, financial inclusion on the global agendas of major development institutions and governments. He is also the lead author of the biannual IFAD flagship publication Sending Money Home and originator and coordinator of IFAD’s International Day of Family Remittances (IDFR). De Vasconcelos’ areas of expertise range from financial inclusion for development (remittances, payments systems, investments), migration and entrepreneurship, SME development and finance. Before joining the Fund, De Vasconcelos designed, launched and managed the Inter-American Development Bank’s Multilateral Investment Fund’s (FOMIN) strategy and programme on remittances and migrant investment. He also launched and coordinated FOMIN’s ICT for development programme. From 1998 to 2000, De Vasconcelos served at the United Nations Conference on Trade and Development (UNCTAD) in Geneva. De Vasconcelos holds a Bachelor’s Degree in International Business from the University of Toulouse-France and a Master’s Degree in International Business and Management from the University of Paris IV, La Sorbonne. He represents IFAD at the G20 Global Partnership for Financial Inclusion (GPFI), the Global Forum on Migration and Development (GFMD) and the United Nations’ Global Migration Group (GMG).
Sarah is a specialist in the field of international remittances with a background in managing strategy and financials for new investment projects. Sarah’s main responsibilities include market entry and growth strategies for remittance service providers (RSPs), financial feasibilities for new investments and developments, competitive market analysis, project and pilot planning, monitoring & evaluation frameworks and providing advisory services on licensing and regulatory requirements. Whilst working in the Business Development Department for one of the Dubai Government’s asset management companies, Sarah was responsible for conducting feasibility analyses on new business opportunities both in Dubai and internationally. Prior to that Sarah worked as a Senior Economic Researcher with the Dubai Chamber of Commerce and Industry. Sarah has a first class degree in Economics and a Masters in Economic Development.
The digital remittance revolution approaching 2030
Malick Seck is the Managing Director of Africa for Ria, the money transfer division of Euronet Worldwide, Inc. He currently oversees the company’s Regional Hub in Dakar, Senegal, and has been an integral part of the organisation since 2010.
After completing his post-graduate degree in marketing management in Clermont-Ferrand, France, he worked in marketing, before joining Shell in Senegal. He then moved to Groupe Chaka, Senegal, in the IT industry, where he set up the first Call Centre organization in West Africa. He was a key member of the team that started Money Express in Senegal where he began his remittances career, and proudly championed the movement that unlocked exclusivity contracts in this industry.
Round table, discussion points:
- Opting for digital and financial inclusion: are we all ready?
- From the digital divide to market expansion: leaving no one behind;
- Financial inclusion opportunities and models.
Data and market intelligence as the basis for effective decision-making
Round table, discussion points:
- Opting for digital and financial inclusion: are we all ready?
- From the digital divide to market expansion: leaving no one behind;
- Financial inclusion opportunities and models.
Remittance track: Central bank digital currencies, blockchain and cryptocurrencies in the remittance space: a reality check
- The business case for remittances and cryptocurrencies;
- Remittances as an opportunity for central banks to promote CBDC;
- Barriers preventing the adoption at customer level.
Diaspora investment track: Making diaspora investment market-oriented
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Common traits of diaspora investment;
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Identifying the right product(s) for the right segment(s);
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New opportunities for pooling diaspora resources.
Migrants’ contribution to climate adaptation and resilience: towards a new paradigm?
Sustainability, stability and security in Africa: Remittances and diaspora investment for climate adaptation and ecosystem restoration
Pedro de Vasconcelos joined IFAD in 2007 as Programme Manager of the multi-donor Financing Facility for Remittances (FFR) and is IFAD’s Senior Technical Specialist – Coordinator, Financing Facility for Remittances (FFR). The US$62 million Facility, under his leadership, has tested and scaled innovative approaches on migration and economic development by maximizing the impact of remittances and migrant investment on development. He is an internationally recognized expert in his field and contributes actively to national, regional and global policy agendas (G7/20, GFMD, and IFAD’s Global Forums on Remittances, Investment and Development, among others) placing remittances, migration, financial inclusion on the global agendas of major development institutions and governments. He is also the lead author of the biannual IFAD flagship publication Sending Money Home and originator and coordinator of IFAD’s International Day of Family Remittances (IDFR). De Vasconcelos’ areas of expertise range from financial inclusion for development (remittances, payments systems, investments), migration and entrepreneurship, SME development and finance. Before joining the Fund, De Vasconcelos designed, launched and managed the Inter-American Development Bank’s Multilateral Investment Fund’s (FOMIN) strategy and programme on remittances and migrant investment. He also launched and coordinated FOMIN’s ICT for development programme. From 1998 to 2000, De Vasconcelos served at the United Nations Conference on Trade and Development (UNCTAD) in Geneva. De Vasconcelos holds a Bachelor’s Degree in International Business from the University of Toulouse-France and a Master’s Degree in International Business and Management from the University of Paris IV, La Sorbonne. He represents IFAD at the G20 Global Partnership for Financial Inclusion (GPFI), the Global Forum on Migration and Development (GFMD) and the United Nations’ Global Migration Group (GMG).
Round table, discussion points:
- Importance of data: its collection and use;
- Data towards policy impact and coherence;
- Investment and strategic decisions in the remittance and investment sectors
