• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

Digital Market

seeing people behind the digits

  • About
  • Blockchain and Fintech Events
  • Domain Names
  • Reports
    • Technology
    • Venture Capital
  • Featured Listing
    • Make a Contribution
    • Submit a Sponsored Post
  • Contact

Lack of digital infrastructure risks leaving millions of rural families in poverty

June 16, 2021 By admin

IFAD makes urgent call on International Day of Family Remittances

ROME – Despite a massive increase in migrants sending money home via digital transfers due to the COVID-19 pandemic, millions of their rural family members struggle to access mobile banking services which could help lift them out of poverty. The President of the UN’s International Fund for Agricultural Development (IFAD) today called for urgent investments in digital infrastructure and mobile services in developing countries to ensure rural families are not left behind.

“Migrants have shown their continued commitment to their families and communities during the pandemic with more remittances transfers made digitally than ever before,” said Gilbert F. Houngbo, President of IFAD, speaking on the International Day of Family Remittances. “Unfortunately, families in rural and remote areas – where remittances are a true lifeline – battle to access cash outlets or alternatives such as mobile money accounts. Governments and the private sector need to urgently invest in rural digital infrastructure to address this.”

Mobile remittances increased by 65 per cent last year, rising to US$12.7 billion. This change was driven by a switch from cash due to lockdowns that limited informal channels and social distancing rules. In spite of the global economic recession due to the pandemic, migrants continued to send money home, with remittances in 2020 reaching $540 billion – a drop of only 1.6 per cent compared to the previous year.

However, in many countries, people living in remote rural areas have sparse local access to banking services or limited mobile connectivity. In addition, there is a limited availability of agents offering mobile money services such as pay outs in cash.

“While the pandemic accelerated the adoption of digital transfers and mobile money accounts, it also highlighted pervasive gender inequality,” said Pedro de Vasconcelos, the head of IFAD’s Financing Facility for Remittances. “Research shows that women are 33 per cent less likely than men to have a mobile money account. We must focus on closing the gap by addressing the barriers that prevent women from accessing and using mobile financial services.”

Digital transfers are cheaper than traditional cash transfers, and mobile banking services provide the opportunity for migrants and their families to access financial products such as savings, loans and insurance.

SOURCE International Fund for Agricultural Development
www.ifad.org

Filed Under: News

Primary Sidebar

App Coding

Jotform Store Builder launches as a no-code solution to build a store in minutes
Code Intelligence raises $12M Series A
Distraction-free coding
monday.com Adds Built-In Monetization Solution to the apps marketplace
Lumigo expands its serverless observability platform to support any modern cloud application
Brits app-sessed: New Builder.ai data reveals over 20 million can't live without social media apps
How to teach yourself app coding

API Coding

Neosec Introduces Industry First Expert Managed Threat Hunting Service for Detecting and Investigating API Abuse and Vulnerabilities
Apiiro Extends Right from Code to Runtime To Help Developers Fix Risks Faster
Profound Logic Builds IBM i Salesforce API Integration Example without Writing a Single Line of Code
How to teach yourself API coding
API Security Guide
RapidAPI opens European headquarters at the new location in Berlin
Join Our Team as an API Coder - Power Cutting-Edge API Apps

Secondary Sidebar

Blockchaining

How safe is blockchain technology behind cryptocurrencies
Are blockchain transactions traceable?
Corporate leaders should embrace the potential of blockchain technology before it gets used against them
Experience the Future of Blockchain at Cybertech 2023
Highlights: Blockchain Conference in Tel Aviv

Marketing Development

What factors favor creation of the most valuable brands
How to create influencer marketing network
How has the shift to tech impacted the role of a marketing specialist?
Marketing is the first line of sight into the values and purpose behind a brand
Event Marketing : Know Your Audience

Footer

Recent Posts

  • What are cultural aspects of digital transformation
  • What it takes to make a digital town square
  • Idexo Releases New NFTMe Mobile App That Makes It Easy For Anyone to Turn Selfies Into NFTs and List Them for Sale with a Few Clicks
  • Evmos Closes $27M Token Sale to Accelerate Development of the Cross-Ecosystem dApp Platform
  • Countries with better FinTech development saw greater GDP resilience, employment during Covid-19: report
  • Moonshot Commons Raised Seed Round from HashKey Capital to “break geo-barriers” for the next Gen-Z founders in Web3
  • Umbro Enters Web3 With “The Nations’ Collection by Umbro”
  • GlobalConnect successfully raised EUR 1 billion in new ESG linked financing, enabling sustainable growth
  • Denmark has the best digital quality of life in the world
  • A license for a Bloomberg Terminal costs $24,000 per year, OpenBB is free

Media Instances

The use cases for the metaverse are easy to spot and multiplying fast
Opportunists lack staying power
Sister Cities of San Francisco
World Climate Foundation: Advancing a Common Framework to Achieve a True and Global Net-Zero Economy
Sony Launching New Social Media Campaign, “U THE WORLDBUILDER”: “Discover Extraordinary World around You,” Collaborative Photography Project with Finn Wolfhard

S3H

How is the economic downturn hurting the creator economy?
The future of IoT and its impact on our lives and our world
S3H 2023: Latest trends in Software, Services, Solutions, and Hardware (S3H)
Why China is a headache for American companies
What is transient performance study (TPS)?

VPNW

How to make free movement of services a reality?
How altruism towards colleagues may help your career
Why are managers are leaving their jobs at higher rates than nonmanagers?
Fear holds back innovation efforts
How to be friends with a subordinate

Pixel Effects

Bike Aftermarket
Sunflowers, Van Gogh-ish
How about sitting on the beach for entire day?
We expect the airfare recovery to be modest in 2022
Post-Covid Travel Season is Here

Copyright © 2022 DigitalMarket.org

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT