International Day of Family Remittances

International Day of Family Remittances is observed annually on June 16. This day recognizes the significant contributions of over 200 million migrant workers who send money to support their families back home, impacting the lives of approximately 800 million people worldwide.

History of International Day of Family Remittances

The International Day of Family Remittances (IDFR) was first observed on June 16, 2015, during the Global Forum on Remittances and Development held in Milan. The initiative was spearheaded by the International Fund for Agricultural Development (IFAD) to highlight the vital role of remittances in supporting families and communities in developing countries. Recognizing the importance of this initiative, the United Nations General Assembly officially adopted the day in 2018, encouraging member states to observe it annually. ¹

Since its inception, the International Day of Family Remittances has served as a platform to promote policies and practices that maximize the impact of remittances. The day emphasizes the need for financial inclusion, reduction of transfer costs, and the empowerment of migrant workers and their families. Over the years, various campaigns and initiatives have been launched to support these goals, aligning with the broader objectives of the Sustainable Development Goals (SDGs).

Why is International Day of Family Remittances important?

Remittances play a crucial role in the economies of many developing countries. They provide a lifeline for millions of families, enabling access to education, healthcare, housing, and food security. Often, these funds constitute a significant portion of household income, especially in rural areas where access to financial services and employment opportunities may be limited.

Moreover, remittances contribute to national economies by increasing foreign exchange reserves and stimulating local markets. They often surpass official development assistance in volume, highlighting their significance in global financial flows. By acknowledging the efforts of migrant workers and promoting supportive policies, the International Fund for Agricultural Development fosters a more inclusive and equitable global economy.

Here’s why this day matters:

• It acknowledges the sacrifices and contributions of migrant workers.
• It highlights the economic importance of remittances in developing countries.
• It promotes financial inclusion and access to affordable transfer services.
• It supports the achievement of Sustainable Development Goals.
• It encourages policies that enhance the positive impact of remittances.

How to Observe International Day of Family Remittances

Observing the International Day of Family Remittances can involve various activities aimed at raising awareness and supporting migrant communities. Individuals can educate themselves and others about the role of remittances and the challenges faced by migrant workers. Sharing stories, statistics, and information on social media platforms can help spread awareness and foster understanding.

Organizations and policymakers can use the day to advocate for policies that reduce remittance transfer costs, enhance financial inclusion, and protect the rights of migrant workers. Hosting events, workshops, or seminars focused on these topics can engage communities and stakeholders in meaningful discussions and actions.

Here are some ways to observe the day:

• Share information and stories about the impact of remittances on social media.
• Organize or participate in events that support migrant workers and their families.
• Advocate for policies that reduce remittance transfer costs and promote financial inclusion.
• Support organizations working to empower migrant communities.
• Educate yourself and others about the challenges and contributions of migrant workers.

International Day of Family Remittances Dates Table

1. https://www.un.org/en/observances/remittances-day[↩]