The International Day of Family Remittances (IDFR) is a globally recognised day observed annually on June 16, adopted by the United Nations General Assembly. This special day honours the contributions of over 200 million migrants who support their 800 million family members back home.
Many of these migrant workers come from poor areas and earn minimum, despite the low income, the help support their families. The IDFR initiative helps ensure that migrant workers can send money back home safely and efficiently, which is crucial for the economic well-being of their families and communities. In this article, explore the theme, history and importance of IDFR.
International Day Of Family Remittances 2024 Theme
As per IDFR’s website, the theme of International Day of Family Remittances 2024 is Digital remittances towards financial inclusion and cost reduction.
International Day Of Family Remittances: History
The roots of International Day of Family Remittances (IDFR) can be traced back to 2008 when the International Fund for Agricultural Development (IFAD) and the World Bank jointly observed it on June 16.The goal was to highlight the crucial role of low-wage workers and their impact on developing nations’ wealth.
The event brought together various financial entities, policymakers and stakeholders, where they discussed the positive impact of remittances on global economic development. Overtime, the day gained support from numerous other organizations.
Later, on June 16, 2015, the United Nations General Assembly passed a resolution and officially established the International Day of Family Remittances.
International Day Of Family Remittances 2024: Significance
The initiative began with the goal to address the basic needs of migrant workers and their families, reducing poverty and celebrating the spirit of these workers. The significance of the day is to promote better financial inclusion, strengthen their communities and create a brighter future for their children.
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