Today is International Day of Family Remittances

The world marks International Day of Family Remittances (IDFR) on 16 June to recognise the importance of over 200 million migrant workers who send money home. The day highlights the resilience of these migrant workers in the face of disasters, economic insecurity and environmental and pandemic-related challenges.

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The world marks International Day of Family Remittances (IDFR) on 16 June to recognise the importance of over 200 million migrant workers who sends money home. The day highlights the resilience of these migrant workers in the face of disasters, economic insecurity and environmental and pandemic-related challenges.

According to the United Nations, over 800 million people receive money as foreign remittances from their loved ones. Despite the ongoing COVID-19 pandemic, people sent in over $605 billion as remittances to their families in low and middle–income countries in 2021.

Every year, the day is observed under some or the other theme, but this year the United Nations is continuing last year’s theme which is ‘Recovery and resilience through digital and financial inclusion.’

In February 2015 the International Day of Family Remittances was unanimously proclaimed by all 176 members of the International Fund For Agricultural Development (IFAD). The day is globally recognised and is considered a key initiative in the Global Compact for Safe Orderly and Regular Migration, which urges the reduction of transfer costs and greater financial inclusion through remittances.