Dushanbe – On the 30th of April, 2021, the International Organization for Migration (IOM) held a final regional conference in Dushanbe on Remittance Management Policy, bringing together key government stakeholders, national and commercial banks, international organizations and experts. The event was a part of the regional project “Mitigating the Socio-Economic Effects of the COVID-19 Pandemic on Migrants and Communities in Central Asia and the Russian Federation”, which is funded by the Swiss Agency for Development and Cooperation and implemented by IOM.
The Project was part of IOM Central Asia and the Russian Federation’s Strategic Preparedness and Response Plan, aimed at stemming transmission of COVID-19, increasing financial inclusion, and promoting the use of digital remittance transfers to increase the resilience of migrants during crisis and enhance the development value of remittance flows. The pandemic has heavily impacted economies and disrupted remittance flows between Central Asia and the Russian Federation. A decrease in the volume of remittances will affect the ability to achieve the 2030 Agenda for Sustainable Development and the SDGs.
During the conference, participants discussed the findings of in-depth research carried out by IOM in Central Asia and the Russian Federation that analyses remittance-related challenges and opportunities. The findings of this research have identified how banking system governance in the region can be adapted and improved to promote the uptake of new means of remittance transfer and use. At the end of the conference, Cristina Gheorghe Tranca, the Chief of Mission of IOM Tajikistan, emphasized the importance of efficient partnership, pointing out the diversity of the conference participants and their shared responsibilities.
This regional conference served as a platform for mutual learning and exchange on addressing the operational challenges of migration management in the context of the current global health crisis (as well as potential future economic shocks), with a focus on building the capacity of remittance recipients to achieve longer-term savings and livelihood objectives. Furthermore, lessons learned and insights derived from the conference will serve as advocacy for the government and private sector to actively encourage migrants and their families to use money transfers through sensitization on the National Bank of Tajikistan decree.