The United Nations (UN)’s International Day of Family Remittances (IDFR) is annually observed across the globe on 16 June to acknowledge the sacrifices of migrant workers who send money back to their families.
- June 16 2025, marked the 10th anniversary of IDFR, highlighting its role in poverty alleviation and rural development.
- The day is aligned with the United Nations (UN)’s Global Compact for Safe, Orderly, and Regular Migration (Objective 20), advocating for reduced remittance costs and greater financial inclusion.
Note: Family remittances are money transfers made by people living abroad to family members in their home country.
Theme:
The 2025 theme of IDFR is “Remittances Financing Development”, emphasizes maximizing the impact of remittances in achieving the Sustainable Development Goals (SDGs) in Low- and Middle-Income Countries (LMICs).
Background:
i.The International Day of Family Remittances (IDFR) was first observed on 16 June 2008 by the Rome (Italy)-based International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations (UN), in collaboration with the Washington D.C. (United States of America, USA)-based World Bank.
ii.In February 2015, the Governing Council of IFAD officially proclaimed 16 June as the IDFR to recognize the vital role of migrant workers and the remittances they send to support their families.
- The proposal for this observance was initiated by IFAD, and gained momentum during the Global Forum on Remittances and Development, held in Milan, Italy in 2014.
iii.Later, in 2018, the United Nations General Assembly (UNGA) adopted a resolution A/RES/72/281, thereby officially designating 16 June as the International Day of Family Remittances.
Campaign:
The #FamilyRemittances Campaign 2020–2030, a decade-long initiative, aims to support one billion people in achieving their Sustainable Development Goals(SDGs) with a cumulative remittance potential exceeding USD 5 trillion by 2030.
Significance:
i.Over the past decade, migrants have sent USD 5 trillion to LMICs, surpassing Foreign Direct Investment (FDI) and Official Development Assistance (ODA).
ii.More than one-third of these funds reach rural areas, supporting food security, healthcare, education, and housing.
iii.By 2030, an estimated USD 4.4 trillion in additional remittances will flow to LMICs.
Key Facts:
i.Over 1 billion people are directly involved as senders or recipients.
ii.75% of remittances cover immediate needs, while 25% is saved or invested in businesses.
iii.In 2024, USD 685 billion was sent to LMICs, with 50% transferred digitally.
iv.The global average cost of sending USD 200 is 6.4%, far above the SDG target of 3%.
2025 Events:
The IDFR 2025 campaign is strategically aligned with the Fourth International Conference on Financing for Development (FfD4), scheduled to be held from 30 June to 3 July 2025 in Seville, Spain.
- This integration highlights a focused global initiative to leverage remittances as a catalyst for sustainable development and financial inclusion.
About the International Fund for Agricultural Development (IFAD):
The IFAD is a specialized agency of the United Nations (UN) and an international financial institution, established in 1977 to address poverty and hunger in rural areas of developing countries through agricultural development.
President- Alvaro Lario
Headquarters– Rome, Italy
