Kathmandu: The International Day of Family Remittances (IDFR) is being observed across the world today through various programs and activities. Recognized by the United Nations General Assembly, the day is celebrated annually on June 16.
The occasion honors the contributions of more than 200 million migrant workers worldwide who support and improve the livelihoods of their families and communities through remittances.
On the occasion of this year’s observance, the IDFR campaign has called for remittances to be viewed not only as a means of meeting household expenses but also as an important source of rural entrepreneurship, job creation, and local economic transformation.
According to the United Nations, remittances sent by migrant workers benefit approximately 800 million family members around the world. Over the past decade, migrants have transferred around US$500 billion annually to low- and middle-income countries. This amount exceeds official development assistance and is comparable to foreign direct investment.
It is estimated that more than one-third of these remittance flows reach rural areas. The campaign notes that about 44 percent of the world’s population lives in rural areas, and nearly 80 percent of people living in extreme poverty are concentrated in these regions. While rural communities face challenges such as climate-related disasters, market instability, and economic risks, they also possess significant potential for sustainable development and growth.
