International Day of Family Remittances (IDFR)

 

The International Day of Family Remittances (IDFR) is celebrated on 16 June each year. The IDFR recognizes the crucial contribution of over 200 million migrant workers who send money to over 800 million family members in low- and middle-income countries. It highlights the resilience of migrant workers in the face of uncertainty while promoting reduced transfer costs and greater financial inclusion through remittances.

Remittances are a lifeline to the developing world and are used to pay for basic household needs, education and entrepreneurship. While individual remittances may be relatively small (the average remittance is US$200-US$300 a month), collectively, these flows are three times greater than global official development assistance.

Over the past 20 years, remittance flows have increased five-fold. Even during economic downturns, remittances continue to flow as they bind migrants to their families back home, helping them stay afloat. In 2022, migrant workers sent US$626 billion home, a growth of 10.2 percent compared to 2021.

Behavioural shifts among migrants and the diaspora—such as sending savings and using mobile transfers—have further bolstered remittances. The COVID-19 pandemic catalysed the use of formal remittances, with mobile remittances alone increasing by 48 per cent in 2021. Digitalization is less costly than cash transfers and has advanced the financial inclusion of migrants and their families.

Find out more and visit the IDFR webpage.

IDFR Facts and figures

Facts and figures

  • Each year, 200 million migrant workers in 40 rich countries send remittances to over 800 million relatives in 125 low- and middle- income countries. 
  • Remittances directly impact the lives of more than one billion people, either as senders or receivers.
  • Global remittances are three times greater than Official Development Assistance.
  • In 2022, more than half of the US$626 billion remittances sent to low- and middle-income countries went to rural areas.
  • Remittances make up an average of 60 per cent of household income.

Related news

Related news

IFAD, Stanbic Bank enter partnership to cut money transfer costs to Uganda in half

September 2023 - NEWS
IFAD and Stanbic Bank Uganda (SBU) today announced a partnership that will cut the cost incurred by Ugandan migrant workers sending money home in half by using Flexipay, a digital payments’ platform.

“We need to change our mindset, diaspora and migrant workers are crucial development partners,” says IFAD expert

June 2023 - NEWS
Today, 16 June, marks the International Day of Family Remittances, led by IFAD. We spoke with Pedro de Vasconcelos, Manager of the Financing Facility for Remittances at IFAD.

Remittances and diaspora investments are vital to boost agriculture and rural development, says IFAD President

June 2023 - NEWS
“Making the most of remittances and diaspora investments can, paradoxically, curb the need for more to migrate. These flows are great contributors to the wellbeing of millions. Almost US$1.8 billion in remittances are flowing daily to low and middle-income countries, leveraging development opportunities. Half of that amount, US$900 million, is boosting agriculture and rural development” said Álvaro Lario, the President of IFAD at the opening session of the Global Forum on Remittances, Investment and Development (GFRID) in Nairobi today.

Related stories

Related stories

13 reasons why remittances are important

June 2023 - STORY
Remittances continue to matter more than ever, particularly in rural areas where they count the most and provide further opportunities towards rural transformation. Here are 13 reasons why.

11 reasons why remittances are important

June 2021 - STORY
Every year, on 16 June, the International Day of Family Remittances (IDFR) is observed to raise further awareness on the abnegation and sacrifice of migrant workers, who support their families and communities of origin through the money they send back home, particularly in these times of crisis.

Helping remittances reach rural areas in Moldova

March 2021 - STORY
For some time now, it has been difficult to find well-paid work in Moldova. Most of the good jobs available are concentrated in the cities, resulting in significant migration out of the country’s rural areas.

Sending money home: ten reasons why remittances matter

June 2019 - STORY
The International Day of Family Remittances is observed every year on 16 June in recognition of the fundamental contribution of migrant workers to their families and communities back home and to the sustainable development of their countries of origin.

Related events

Asset Publisher

GCM Talks: Remittances, Diaspora and the Sustainable Development Goals

May 2023 - EVENT
This webinar will launch the International Day of Family Remittances (IDFR) campaign and will set the stage for the upcoming Global Forum on Remittances, Investment and Development (GFRID) Summit 2023.

International Day of Family Remittances – Observance events 2022

June 2022 - EVENT
The International Day of Family Remittances helps raise awareness of migrants’ crucial contribution to the development of their communities of origin.

eGFRID - Remittances and investment: how migrants finance sustainable development

January 2022 - EVENT
The next eGFRID webinar, jointly hosted by IFAD and the European Commission (EC), will focus on the topic of “Remittances and investment: How migrants finance sustainable development.”

Women's financial inclusion and the role of remittances

June 2019 - EVENT
This roundtable marks the occasion of the United Nations International Day of Family Remittances (June 16).

Related publications

Related publications

RemitSCOPE: Kenya Country Diagnostic

May 2023
This diagnostic provides an assessment of Kenya’s remittance market, especially in light of the COVID-19 pandemic, using a market-oriented approach.

RemitSCOPE: Morocco Country Diagnostic

November 2022
This report provides an assessment of the remittances market in Morocco.

RemitSCOPE: Senegal Country Diagnostic

November 2022
The Senegal diagnostic provides an evaluation of remittance market into Senegal, under a supply-based approach.

RemitSCOPE: Uganda Country Diagnostic

November 2022
This diagnostic provides an assessment of Uganda’s remittance market, with special reference to factors related to the COVID-19 pandemic, based on a market-oriented approach.

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Contact information

Asset Publisher

David Berno

Remittances and Inclusive Digital Finance Officer (Kenya, Uganda)

d.berno@ifad.org

Francine Dove

Remittance and Inclusive Digital Finance Specialist (Ghana)

f.dove@ifad.org

Leonard Makuvaza

Remittances and Inclusive Digital Finance Officer (South Africa, The Gambia)

l.makuvaza@ifad.org

Frédéric Ponsot

Senior Technical Specialist on Remittances, Diaspora and Inclusive Finance

f.ponsot@ifad.org

Leleng Tchangai

Remittance and Inclusive Digital Finance Specialist (Morocco, Senegal)

l.tchangai@ifad.org

The International Day of Family Remittances (IDFR) Contacts

Contact us

For questions, please contact familyremittances@ifad.org