Stories

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.

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.

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.

Without initially knowing it, last year more than 13,000 young women in Colombia began to prepare for the current economic and social impacts of the COVID-19 pandemic.

It has long been recognized that the money remitted by migrants is used to supplement the receiving family’s income and is therefore largely spent on consumption. Only a small amount of remittances is invested in productive assets, much less saved.