International Day Of Family Remittances 2023: Date, Theme, Significance and History
International Day of Family Remittances 2023
The International Day of Family Remittances (IDFR) is a universally-recognized observance adopted by the United Nations General Assembly and celebrated every year on 16 June. The Day honours the efforts of over 200 million migrants to improve the lives of their 800 million family members back home and to provide a bright future for their children. Half of these flows go to rural areas, where poverty and hunger are concentrated, and where remittances count the most.
Theme of International Day of Family Remittances 2023
According to the United Nations, the theme of International Day of Family Remittances 2023 is “Digital remittances towards financial inclusion and cost reduction.”
Significance of International Day of Family Remittances
International Day of Family Remittances advocates policies and measures to increase financial inclusions and creates an environment to enhance the remittance benefits for both the migrant workers and their families.
The day celebrates the resilience, loyalty, and love demonstrated by migrant workers who provide for their families from overseas. According to United Nations, “The Day recognises 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.”
History of International Day of Family Remittances
The history of International Day of Family Remittances dates back to 2008. On June 16, 2008, the International Fund for Agricultural Development (IFAD) and the World Bank jointly observed the first-ever International Day of Family Remittances, with the goal of emphasising the role of migrant workers and their remittances in improving the economies of developing countries. Different financial organisations, policymakers, and other stakeholders, participated in the event, and discussed the positive impact of remittances on the economic development of countries worldwide.
The day received global recognition and support by various organisations and finally on 16 June 2015, the United Nations General Assembly passed a resolution and declared 16 June as official International Day of Family Remittances.
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