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International Day of Family Remittances 2025: The theme for this year is “Remittances Financing Development”. (AI generated image)
International Day Of Family Remittances 2025: The International Day of Family Remittances (IDFR) is a universally recognised day adopted by the United Nations General Assembly and marked every year on June 16. This special day acknowledges the significant contributions of more than 200 million migrant workers who send money back home to improve the lives of their 800 million family members.
Through this day, the United Nations aims to raise awareness of the impact that these contributions have on millions of homes, as well as communities, countries, and entire regions. According to the United Nations, migrants have transferred US$5 trillion over the past decade in remittances to low- and middle-income countries (LMICs).
Over one-third of these funds have reached rural areas, where they are most needed. LMICs are expected to receive an additional US$4.4 trillion in remittances by 2030.
The theme for International Day of Family Remittances (IDFR) 2025 is “Remittances Financing Development”. According to IDRF website, this year, the IDFR campaign calls for a renewed and expanded commitment to fully maximize the impact of remittances in achieving the Sustainable Development Goals in Low-Middle Income Countries.
The International Day of Family Remittances (IDFR) was first observed on June 16, 2008, by the International Fund for Agricultural Development (IFAD) and the World Bank. The purpose was to emphasise the importance of low-wage workers and their impact on the wealth of developing countries.
The event brought together many financial entities, policymakers and stakeholders to discuss the benefits of remittances on global economic development. The day eventually attracted support from a wide range of other organisations.
In February 2015, the Governing Council of the International Fund for Agricultural Development (IFAD) proclaimed June 16 as the International Day of Family Remittances. Later, the United Nations General Assembly adopted the resolution in 2018, establishing the International Day of Family Remittances.
Migrants send money home to support livelihoods, improve economies and directly contribute to the Sustainable Development Goals (SDGs). They are more than just financial transactions; remittances provide a lifeline for a number of families, serve as a catalyst for economic empowerment and play an important role in promoting sustainable development.
This year, the IDFR campaign will highlight how remittances contribute to financing development. It will also identify critical goals that will have the greatest impact on household economic and climatic resilience, as well as sustainable local development.
As a reliable and direct source of finance at the household level, remittances are already playing an important role in bridging the financing gap.
They mainly address immediate needs, while it is estimated that up to a quarter of funds are allocated to income-generating activities and long-term objectives such as housing, savings, investments, education, and healthcare. It serves a crucial role in pulling families out of poverty and increasing economic resilience in communities by easing financial burdens and enhancing living standards.
Bhaswati Sengupta is a Sub-Editor at News18, where she works closely with the Web Stories and Photo Gallery team to create visually engaging and impactful digital content. She also contributes to Lifestyle sect…Read More
Bhaswati Sengupta is a Sub-Editor at News18, where she works closely with the Web Stories and Photo Gallery team to create visually engaging and impactful digital content. She also contributes to Lifestyle sect… Read More
