People at both sides of an opened teller window
Over 200 million migrant workers sent US$554 billion back to their families in remittance-reliant countries in 2019.
Photo:© IFAD
Over 200 million migrant workers sent US$554 billion back to their families in remittance-reliant countries in 2019. Photo: © IFAD

Remittances are a lifeline

This year, the International Day of Family Remittances (IDFR) will be observed under unprecedented conditions. COVID-19 has changed the world. Millions of migrant workers are losing their jobs, and many remittance families are suddenly pushed below the poverty line - bringing to a halt, efforts to reach their own individual SDGs.

Remittance families are typically both resourceful and resilient in the face of difficult circumstances and changing conditions. But COVID-19 is disrupting an entire system that directly involves 200 million migrant workers, half of them women, around the world and their 800 million family members back home.

Migrant workers are essential contributors to both the places where they currently live and to their communities back home, having a ripple effect in about 40 sending and more than 125 receiving countries world-wide. Global remittances to developing countries are projected to fall by US$ 110 billion in 2020, and not return to pre-pandemic levels for many years thereafter.

On 19 March 2020, the UN Secretary-General called for global solidarity in responding to the coronavirus crisis stating “remittances are a lifeline in the developing world – especially now”.

Now, more than ever, the IDFR observance presents an invaluable opportunity to recognize the key role family remittances play on the wellbeing of millions of families and on the sustainable development of their local communities. That is why this year´s IDFR is calling upon governments, the private sector, and civil society organizations to support migrant workers and their families in building resilience at this time of crisis.

How to get involved

Raise Awareness

  • Build your own social media package, draft a thematic newsletter for your network or organize an online event. Take part in the global discussion by using the hashtag #familyremittances
  • Think creatively on how you can bring this opportunity to the world’s attention. Use personal stories and compelling photos to illustrate the reality of the one billion people directly involved in remittances
  • Take advantage of the IDFR official graphics on this Trello board following the logo guidelines

Get involved through  social media channels and the International Day of Family Remittances homepage.

The International Day of Family Remittances (IDFR) is a universally-recognized observance adopted by the United Nations General Assembly (A/RES/72/281) and celebrated every year on 16 June. The day recognizes the contribution of over 200 million migrants to improve the lives of their 800 million family members back home, and to create a future of hope for their children. Half of these flows go to rural areas, where poverty and hunger are concentrated, and where remittances count the most.

Through this observance, the United Nations aims to bring greater awareness of the impact that these contributions have on millions of households, but also on communities, countries, and entire regions. The Day also calls upon governments, private sector entities, as well as the civil society, to find ways that can maximize the impact of remittances through individual, and/or collective actions.

The IDFR is fully recognized at the global level, and included as one of the key initiatives to implement the newly-adopted Global Compact for Safe, Orderly and Regular Migration (Objective 20), also calling for the reduction of remittance transfer costs, and greater financial inclusion through remittances. The Day also furthers the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs).

Remittances are a lifeline in the developing world – especially now."

António Guterres

Events

On 16 June, from 9:30 to 11:30 EST, the International Fund for Agricultural Development (IFAD) is hosting a virtual observance event for the International Day of Family Remittances: Supporting Remittance Families Build Resilience in Times of Crisis.

Please visit the event page and watch the event on YouTube Live Streaming. For questions during the event, use the #familyremittances Twitter hashtag.

Hands counting cash with logs in the background.

Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country. Read the key findings of the World Bank’s brief: COVID-19 Crisis through a Migration Lens.

A crowd of people carrying luggage move in the same direction.

The pandemic is crippling economies across the globe but for many countries, the economic shock will be magnified by the loss of remittances—money sent home by migrant and guest workers employed in foreign countries. In this podcast, the IMF presents remittances as a lifeline for low-income and fragile states that when migrants lose their jobs those remittance flows stop. It's in everyone's interest for host countries to help support migrant workers through the pandemic.

International days are occasions to educate the public on issues of concern, to mobilize political will and resources to address global problems, and to celebrate and reinforce achievements of humanity. The existence of international days predates the establishment of the United Nations, but the UN has embraced them as a powerful advocacy tool. We also mark other UN observances.