International Day of Family Remittances Date in the current year: June 16, 2017

International Day of Family Remittances International Day of Family Remittances is a United Nations observance held on June 16. Its main goal is to recognize the financial contribution made by migrant workers to the sustainable development of their countries of origin.

According to the UN, there are almost 250 million international migrant workers who live outside the country they consider their home. As a rule, they send money home to their relatives several times a year. While the amounts they send may seem insignificant by the standards of developed countries, they are often about a half of their families’ income back home. In 2015, family remittances reached over $450 billion.

The contribution of family remittances to sustainable development should not be underestimated. Financial inclusion and low transfer costs will eventually lead to the improvement of the quality of life in developing countries, especially in small towns and villages.

International Day of Family Remittances was created to stimulate active cooperation between the public and private sectors in order to maximize the impact of these funds in developing countries. In 2016, International Day of Family Remittances was supported by 80 money transfer operators who committed to take action to ensure that the hard-earned money sent by migrant workers counts for even more. The Day was officially endorsed by the UN General Assembly.

Remind me with Google Calendar

Category

UN Observances

Tags

International Day of Family Remittances, UN observance, family remittances, sustainable development