#familyremittances global celebrations

1 %
1 billion of the
world population

200 million migrant workers
and 800 million
family members.

321
US$
billion

Estimated total amount 

of international remittances 

in 2020.

- 0 %
8 US$
billion

Estimated decline
in international remittances
because of the COVID-19 crisis.

18 %+


Estimated percentage
of international remittances
to rural areas.

8 +
countries

Number of countries in the world
which rely on remittances
for more than 4 per cent
of their GDP.

3 %


Estimated share of remittances
spent for immediate needs
by receiving families in 2020

Actions

What public authorities, remittance service providers and civil society organizations have been doing to strengthen recovery and build resilience for migrants and their families through enhanced digital and financial inclusion.

Let us know how you are taking
action at familyremittances@ifad.org

On the occasion of the International Day of Family Remittances (IDFR), the United Nations Network on Migration recognizes the crucial contribution that migrant workers and their families make, especially through their remittances, to the social and economic development of their communities and countries of origin.

Remittances in times of crisis: Recovery and resilience

Remittance families are typically both resourceful and resilient in the face of difficult circumstances and changing conditions. Defying predictions of a sharp fall, latest remittance figures reveal a drop of only 1.6 per cent in 2020, to US$ 540 billion from US$ 548 billion in 2019.
These resources prove transformational for both households and local communities, enabling many families to achieve their ‘own Sustainable Development Goals (SDGs)‘.

RCTF_logo_960x340

41 organizations, including international organizations, inter-governmental bodies, industry and private sector groups, networks of diaspora organizations and international experts on remittances, have come together to give voice to remittance families and support them build resilience in times of crisis.

 

Read “Remittances in crisis: response, resilience, recovery – Blueprint for Action” (PDF)

Remittances in times of crisis: facing the challenges of COVID-19

Remittance families are typically both resourceful and resilient in the face of difficult circumstances and changing conditions. Defying predictions of a sharp fall, latest remittance figures  reveal a drop of only 1.6 per cent  in 2020, to US$ 540 billion from US$ 548 billion in 2019.

These resources prove transformational for both households and local communities, enabling many families to achieve their ‘own Sustainable Development Goals (SDGs)’.

RCTF_logo_960x340

38 organisations, including international organizations, inter-governmental bodies, industry and private sector groups, networks of diaspora organizations and international experts on remittances, have come together to give voice to remittance families and support them build resilience in times of crisis.

Read “Remittances in crisis: response, resilience, recovery – Blueprint for Action” (PDF)

Remittances and the Sustainable Development Goals

At the household level: by recognizing the positive socioeconomic impact of remittances on families’ wellbeing (SDGs 1, 2, 3, 4 and 5).

At the community level: by supporting policies and specific actions to promote synergies between remittances and financial inclusion, encourage market competition and regulatory reforms, and mitigate any negative impact resulting from climate change (SDGs 6, 7, 8, 10, 12 and 13).

At the international level: by ensuring that the revitalized Global Partnership for Sustainable Development – as outlined in SDG 17 – and the GCM promote collaboration across all sectors involved in remittances.