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IDFR Supporters
42 countries adopted the resolution
15 UN agencies and international organizations
6,000 banks
800+ mobile network operators
100 payment companies
90+ money transfer operator
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Alvaro Lario, President of IFAD
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Rossana Polastri, IFAD Regional Director Latin America and the Caribbean Division
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Bernard Hien, IFAD Regional Director West and Central Africa Division
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Dina Saleh, IFAD Regional Director Near East, North Africa and Europe Division
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Sara Mbago-Bhunu, IFAD Regional Director East and Southern Africa Division
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Reehana Reza, IFAD Regional Director Asia and the Pacific Division
billion people
1
are involved as remittances senders or receivers
US$ billion
310
remittances sent to low and middle income countries in 2023
 
4 %
Estimated remittances sent worldwide through digital channels.
million
18
Number of women living and working outside their country of origin from less developed regions.
countries
20 +
Number of countries in the world which rely on remittances for more than 3 per cent of their GDP.
 
3 %
Estimated share of remittances spent for immediate needs by receiving families in 2021.
 
3 %
Remittances saved or invested by remittance-receiving families in LMICs.
 
0 %
the global average percentage for sending USD 200.

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.

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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 [email protected]

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)