Rome/Rabat, June 16, 2025. The International Fund for Agricultural Development (IFAD), Bank Al-Maghrib (BAM) and the Delegation of the European Union (EU) celebrated the International Day of Family Remittances (IDFR) with an event in Oujda today highlighting how the strong increase in Morocco’s remittances improves the lives of rural families and drives economic growth.
The “Maximizing the Impact of Remittances for Inclusive and Sustainable Development” event emphasized the crucial contribution of Moroccans Residing Abroad (MREs) to poverty reduction, local economic growth and a more sustainable long-term future. IFAD and the EU co-finance the DigitRemit Morocco project aiming to maximize the already substantial impact of remittances, especially in rural areas. Participants looked at ways to raise awareness of productive savings, investment opportunities and digital tools, and strengthen multi-stakeholder partnerships to reduce remittance transfer costs below 3% per cent by 2030.