International Day of Family Remittances Observed On 16th June

International Day of Family Remittances Observed On 16th June-Details, Aim, Purpose, History

The International Day of Family Remittances (IDFR) is observed every year on 16 June across the world. It is aimed at recognizing significant financial contribution migrant workers make to the well-being of their families back home and to the sustainable development of their countries of origin.

The International Day of Family Remittances is also aimed at encouraging public and private sectors, as well as civil society, to do more together and collaborate to maximize the impact of remittances in developing the world.

Remittance is a transfer of money by the foreign worker to individual or family in their home country. It competes with international aid as one of the largest financial inflows to developing countries.

The International Day of Family Remittances was unanimously proclaimed by all 176 member states of International Fund for Agricultural Development (IFAD)’s Governing Council at its 38th session in February 2015.

Later, it was adopted by United Nations General Assembly (UNGA) in June 2018 through resolution A/72/L.56.

The first IDFR was celebrated on 16 June 2015. Observance of this day recognizes efforts of migrant workers globally, but also to strengthen current partnerships and create new synergies among sectors to promote development impact of remittances worldwide.

International Fund for Agricultural Development

IFAD is an international financial institution and specialized agency of UN dedicated to eradicating poverty and hunger in rural areas of developing countries.

IFAD was established in 1977 as one of the major outcomes of 1974 World Food Conference. Its headquarters is in Rome, Italy. It is the member of UN Development Group.