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Postal Services and Remittances – Concrete partnerships for financial inclusion and rural outreach

A key issue in the area of remittances is enabling financial services for remittance payouts in rural areas. Postal services which have strong postal networks in particular in rural areas can be a key opportunity for this. The Universal Postal Union and IOM partnered on a pilot project with the Government of Burundi’s to set up the “Rungika project” to reduce remittance costs, enhance rural outreach as well as financial literacy and inclusion. The project which also benefitted from a strong private sector participation was accepted as an SDG best practice and is now being considered for replication in two other countries. It is useful for governments and remittance service providers.