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72 FROM AID TO COOPERATION© Gettysocial costs of migration and the economic,social and structural inequalities thatare exacerbated by remittances betweenrecipients and non-recipients. Anotherquestion that arises is to what extent thepractice of remitting and the volumeof remittances reveal the developmentchallenges that senders and recipients face.For instance, on the one hand migrantsmay face considerable social pressures toremit. On the other hand, remittancesare often used to afford basic services,to overcome gaps in social security andeducation systems, and credit markets.Accordingly, an appraisal of the impactof remittances on development presentscertain complexities that need to be takeninto consideration, recognising that theresponsibility for development lies withstates and not migrants.Maximising development potentialRemittances must be taken into account inthe development goals that are currentlybeing set for 2015 and beyond. Their roleis within a framework that recognises thehuman dimension of migration – the social,cultural and financial contributions ofmigrants, as well as the massive sacrificesthat many have had to make along the way.At this stage, policymakers have theopportunity to consider remittances andother social benefits of migration undera new, wider lens, where remittances arerecognised for what they are – the privatefunds of migrants, rather than a suitablesource of financing for development.One of the main priorities should be thereduction of transaction costs. Theirreduction would make more moneyavailable for migrants and the recipientsof their remittances. This will requirea concerted, collaborative effort amonggovernments, the private sector and theinternational community.A multi-faceted strategy should seek toaddress not only the shortcomings of theinternational regulatory framework, butalso the promotion of innovative remittancemechanisms and a wider array of moneytransfer operators. Financial educationinitiatives for migrant workers and recipientBangladeshi construction workers take a break in Doha,Qatar. There is intense international concern for thewelfare of migrant workers in Qatar, who have sufferedextreme exploitation and dangerous working conditionshouseholds are a proven way of increasingthe likelihood that remittances positivelyand directly impact the life of recipients andtheir communities.Above all, remittance-linked initiativesmust be part and parcel of a widerdevelopment agenda that addressesthe systematic lack of basic services forcommunities in countries of origin ratherthan relying on remittances to fill the gaps.Governments have a great role to playby promoting policies and programmesthat create enabling environments forremittances and, more generally, byincluding all aspects of migration in theirdevelopment-planning policies. Anydiscussion about remittances should occurin a framework that factors in costs andopportunities and takes into account thewide range of social and economic issuesthat shape migration flows.GLOBAL DEVELOPMENT GOALS 2014