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Table of contents
Table of contents � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 2
Message of the United Nations Secretary-General, António Guterres � � � � � � � � 3
Message of the President of IFAD, Gilbert F. Houngbo � � � � � � � � � � � � � � � � � � � � � � � � 4
The IDFR 2020 Campaign: Building resilience in times of crisis � � � � � � � � � � � � � � � 5
The Remittance Community Task Force � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 7
The IDFR 2020 Highlights � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 9
Key figures (June 2020) � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 9
Actions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 10
Digital mobilization � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 12
Web and social media � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 13
Press coverage � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 16
Annex 1: Resolution adopting the International Day
of Family Remittances � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 17
Annex 2: Members � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 19
Message of the United Nations
Secretary-General, António Guterres
On the International Day of Family I call on all stakeholders to take steps to
Remittances, and in the midst of the reduce remittance transfer costs, provide
COVID-19 pandemic, we recognize the financial services for migrants and their
determination of 200 million migrants families – particularly in rural areas – and
who regularly send money home, and promote financial inclusion for a more
the 800 million family members living in secure and stable future. The Global
communities throughout the developing Compact for Safe, Orderly and Regular
world who depend on those resources. Migration offers one key platform for action.
Last year, remittances to low- and I am encouraged by wide-ranging
middle-income countries reached a support for the global campaign –
record US$554 billion – more than three #FamilyRemittances: Building resilience
times the amount of official development in times of crisis.
assistance and surpassing the level of
foreign direct investment.
Let us do our utmost to
Yet this year, the World Bank projects that
remittances will fall by about 20 per cent,
support millions of families
or US$110 billion, causing hunger, lost to reach their own goals.
schooling and deteriorating health for tens
In doing so, we will come
of millions of families, with an especially
heavy impact on women and girls. Several closer to achieving the
nations and organizations have issued a
Sustainable Development
call to action to “keep remittances flowing”,
urging policymakers to declare remittance Goals, one family at a time.
services as essential and facilitate the
scaling up of digital remittance channels.
At this time of global crisis, I appeal to
people everywhere to support migrants,
who are among the engines of the global
economy and make crucial contributions to
well-being across the world.
3
Message of the President of IFAD,
Gilbert F. Houngbo
This year’s IDFR Observance Event, The IDFR provides an opportunity for
which took place virtually, ended with institutions to come together and commit
IFAD’s President video message to the to practical actions to sustain migrants
over 700 people watching. and their families and build resilience to
future shocks. In these difficult times,
“On this International Day of Family IFAD has brought together partners from
Remittances we invite you to join IFAD in different sectors to identify key priorities.
recognizing the hard work and courage We call upon:
of migrants and their families. There are
200 million migrants around the world – governments to recognize remittance
supporting over 800 million family members services as essential and implement
back home. On June 16 of each year, the policies fostering competition and
international community recognizes them. innovation in the remittance market;
Their resilience today is being tested by a – private sector to use technology and
pandemic that has challenged the entire digital services to reduce the cost of
globe. COVID-19 has hit migrants very sending money home and improve
hard. It has exposed them to job loss and speed and security;
health risks and it threatens the economic
lifeline of their families back home. – civil society to support programmes
in financial education to help migrants
Migrant workers and their families have save and invest to build resilience and
a few safety nets: no work means no create opportunities for themselves and
remittances. This year remittances are their communities back home.
expected to drop by 20 per cent, hence
tens of millions of families, including
recipients of remittances, will fall into Today we recognize the effort
extreme poverty.
of all the women and men
Each payment of about 200 to 300 dollars who work hard and make
represents the hard work and compassion
sacrifices to send money
of migrants for families back home and
adds up to half a trillion dollars per year home. Let us commit to
globally, with at least 250 billion dollars
do our part to make sure
going to rural areas alone.
that this hard-earned money
These amounts have since the mid-nineties results in more resilience
surpassed all development assistance
combined. IFAD works with rural families and a brighter future for
to build a better future by creating linkages rural communities.”
between inclusive financial services and
remittances, which help alleviate hunger
and poverty.
4The IDFR 2020 Campaign:
Building resilience in times of crisis
On 11 March 2020, the World Health On 19 March 2020, the Secretary-General
Organization (WHO) declared COVID-19 of the United Nations called for an urgent
a pandemic. Lockdown and other and coordinated response from the
preventive measures taken up by the international community to address the
majority of countries to contain the spread COVID-19 pandemic, underscoring the
have caused an unprecedented global fact that “remittances are a lifeline in the
economic upheaval due to job losses developing world – especially now”.
resulting from business closures and
the sharp reduction in economic activity. Responding to the UN Secretary-General’s
Among the most affected groups are call, on 24 March, IFAD, together with
the estimated 200 million international the World Bank Group and the African
migrant workers and their 800 million Union (the co-organizers of the Global
family members back home who rely on Forum on Remittances, Investment and
remittances for their livelihood. Development), launched the Remittance
Community Task Force (RCTF), as part
According to the World Bank Group, of the IDFR 2020 Campaign “Building
remittance flows to low- and middle‐ resilience in times of crisis”.
income countries are projected to decline
by 7.2 per cent, to US$508 billion The campaign promotes concrete actions
in 2020, followed by a further decline to support remittance families, while at the
of 7.5 per cent, to US$470 billion same time recognize the key roles they play
in 2021. Unlike previous shocks, the for the wellbeing of millions of families as
economic impact and scale of COVID-19 well as the sustainable development of their
is simultaneously affecting remittance local communities. The International Day
sending and receiving countries. The of Family Remittances (IDFR), celebrated
decrease in these flows threatens decades every year on 16 June, served as a catalyst
of progress towards the achievement of the moment to propel the campaign to the
SDGs, including poverty reduction, income global stage.
equality, nutrition, health and education.
“ I am encouraged by wide-ranging support
for the global IDFR 2020 campaign:
#FamilyRemittances: Building resilience in times of crisis.
Let us do our utmost to support millions of
families to reach their own goals. In doing so,
we will come closer to achieving the Sustainable
Development Goals, one family at a time.”
António Guterres
5The IDFR: A universally-recognized observance
The International Day of Family Through this observance, the United
Remittances (IDFR) is a universally- Nations aims to bring greater awareness
recognized observance adopted by the of the impact that these contributions have
United Nations General Assembly on millions of households, but also on
(A/RES/72/281) and celebrated every communities, countries and entire regions.
year on 16 June. The day recognizes the The IDFR also calls upon governments,
contribution of over 200 million migrants private sector entities, as well as civil
to improve the lives of their 800 million society, to find ways to maximize the
family members back home, and to create impact of remittances through individual,
a future of hope for their children. Half and/or collective actions.
of these flows go to rural areas, where
poverty and hunger are concentrated, and
where remittances count the most.
The IDFR is fully recognized at the global level, and
included as one of the key initiatives to implement the
Global Compact for Safe, Orderly and Regular
Migration (Objective 20), also calling for the reduction
of remittance transfer costs, and greater financial
inclusion through remittances. The IDFR also furthers
the 2030 Agenda for Sustainable Development and
the Sustainable Development Goals (SDGs).
> See Annex 1 on page 17 to read the full UN Resolution (A/RES/72/281)
6The Remittance Community
Task Force (RCTF)
Understanding the need to act together as the UN Framework for the Immediate
one to confront the global emergency, key Socio-Economic Response to COVID-19.2
stakeholders of the remittance ecosystem This will facilitate the achievement of
from all sectors joined forces to raise Sustainable Development Goal (SDG) 17
awareness of the impact of the pandemic that aims to strengthen and revitalize global
on the one billion people on earth directly partnerships for sustainable development.
involved in remittances and to give voice It also promotes SDG Target 10.c that
to remittance families. National Remittance seeks to lower the transaction costs of
Task Forces were also migrant remittances to less than 3 per cent
created in Gambia, Ghana and to eliminate remittance corridors
and Senegal. The work of with costs higher than 5 per cent by
the RCTF culminated in 2030. Through its focus on sustainable
the release of a Blueprint digitalization, the Blueprint supports the
for Action “Remittances Addis Ababa Action Agenda (AAAA)
in Crisis: Response, of the Third International Conference
Recovery, Resilience”, on Financing for Development, which
outlining a set of immediate commits to leveraging new technologies
and short-term measures for greater financial literacy and inclusion
to address the challenges through remittance.
confronting migrant workers
and their families with the Finally, the findings of this report also
COVID-19 pandemic. support several international processes.
These include the Global Partnership
The Blueprint for Action is in line with for Financial Inclusion (GPFI) of the G20,
Objective 20 of the Global Compact for the Global Forum on Migration and
Safe, Orderly and Regular Migration1 Development, and the UN process on
(GCM) which promotes faster, safer and Financing for Development in the Era
cheaper transfers of remittances, fosters of COVID-19 and Beyond, launched
the financial inclusion of migrants, and on 28 May 2020 by the United Nations
the need to strengthening international Secretary-General, the Prime Minister
cooperation and global partnerships of Canada and the Prime Minister of
on these issues. It also aligns with the Jamaica.
contribution of the RCTF members to
1/ https://www.un.org/en/ga/search/view_doc.asp?symbol=A/RES/73/195
2/ UN Sustainable Development Group, 2020. A UN Framework for Immediate Socio-Economic Response to Covid-19
7This initiative identifies remittances as a key (1) Short-term relief measures include:
topic for engagement and repositioning Declaring remittance services essential;
within the UN Financing for Development further seeking reduction of remittance
Framework because of the pandemic. transfer costs; providing financial and
policy support to eligible Remittance
Service Providers (RSPs); gather and
disseminate data on remittance markets
and families’ needs; waive taxes, if any, on
remittance transactions; promote public-
private working groups; and incentivize
use of digital remittance products both
in sending and receiving countries.
(2) Remittance family measures include:
Promoting financial inclusion of
remittance families, through gender-
sensitive adapted financial services
and financial and digital education
programmes; and leveraging on
Heads of State and Government Meeting
RSP payment networks to deliver
urgent services.
Heads of state and government met on
29 September to consider the menu of (3) Short- to medium-term measures for
policy options developed over the last four more competitive and resilient remittance
months with the ambition of supporting markets and an enabling environment
Member States in responding and include:
recovering from the current global crisis. Making information on costs of sending
The findings of the Blueprint contributed and receiving remittances accessible
to the menu, in particular in the and transparent; reviewing the policy
framework of the Discussion Group I: framework of payment systems to
“External Finance, Remittances, Jobs enable competition and innovation; and
and Inclusive Growth”, and included the developing and encouraging remittance-
following measures: related savings, loans and insurance.
To date, 40 organizations have joined the RCTF, including
international organizations, inter‑governmental bodies,
industry and private sector groups, networks of diaspora
organizations and international experts on remittances.
> See Annex 2 on page 19 to see the full list of members of the RCTF.
8The IDFR 2020 Highlights
The unprecedented participation in Event, to the Global Forum on Remittances,
the RCTF spurred a momentum for Investment and Development’s network
cooperation that paved the way for the of over 12,000 stakeholders and to a wider
IDFR observance, on 16 June. Taking public on social media.
stock of the many initiatives of public
institutions and private companies
addressing the COVID-19 crisis in relation In support of remittance
to remittances, the IDFR 2020 Campaign
offered a dedicated website and social
families, keen engagement
media visibility through the hashtag was demonstrated by the
#FamilyRemittances to highlight best
private and public sectors,
practices. The concrete actions taken by
the private and public sectors to support through online events,
remittance families were brought to the
social media activity
attention of the more than 700 people who
connected to the IDFR 2020 Observance and press coverage.
Key figures (June 2020)
+ 700 people attended
the virtual IDFR Observance Event
2,337 unique users
(+5434%) on familyremittances.org
2,758 #familyremittances mentions
(+231%) on Twitter
501 press mentions
(+303%)
9Actions
Leading to the IDFR, the campaign website listed 44 actions taken by public and private
entities to respond to the COVID-19 crisis and to build remittance families’ resilience.
Public sector
UN Secretary-General Call for Coordinated The Central Bank of the Philippines encourages
Action, Solidarity, and Hope 19 March a shift to e-payments amid quarantine 22 April
Action by the UN Secretary General 2020 Action by the Government of the Philippines 2020
The European Union mandates the disclosure The Government of Pakistan moves to
of total costs of cross-border payments 20 March offset the shortfall in remittances 2 May
Action by the European Union 2020 Action by the Government of Pakistan 2020
Creation of the Remittance Community The Financial Action Task Force (FATAF)
Task Force, led by the International Fund releases “COVID‑19-related Money
for Agricultural Development (IFAD) 24 March Laundering and Terrorist Financing
Action by IFAD 2020 Risks and Policy Responses” 4 May
Action by FATAF 2020
The Government of New Zealand classifies
remittances as an essential service 27 March Somalia: Central Bank to support
Action by the Government of New Zealand 2020 remittance inflows 7 May
Action by the Government of Somalia 2020
The Central Bank of Kenya directs
banks to quarantine cash 29 March The Universal Postal Union (UPU) creates
Action by the Government of Kenya 2020 a special IDFR postage stamp 11 May
Action by UPU 2020
The Government of Qatar asks
companies to familiarize workers Ghana launches the world’s first digital
with online remittance services 31 March finance policy amid COVID-19 15 May
Action by the Government of Qatar 2020 Action by the Government of Ghana 2020
World Bank Call to Action to Rwanda: rapid economic policy changes
support the remittance sector 3 April to further the digitization agenda 19 May
Action by the World Bank 2020 Action by the Government of Rwanda 2020
The International Organization for Switzerland and the United Kingdom
Migration (IOM) provides guidance launch an international call to action
on how to enhance migrant worker Action by Joint Switzerland – 22 May
protection during the health crisis 7 April United Kingdom Initiative 2020
Action by IOM 2020
High-Level Event on Financing for Development
Zimbabwe eases lockdown in the Era of COVID-19 and Beyond
for diaspora pay-outs 7 April Action by Joint initiative by Canada, 28 May
Action by the Government of Zimbabwe 2020 Jamaica and the United Nations 2020
Sri Lanka exempts inward remittances Moldova: First ever international
from certain regulations and taxes remittance transfer through a
20 April
Action by Sri Lankan authorities 2020 Saving and Credit Association 16 June
Action by the Government of Moldova 2020
The Government of the United Kingdom (UK)
classifies remittances as an essential service United Nations Network on Migration’s
21 April
Action by the Government of the UK 2020 Policy Brief on the impact of COVID-
19 on family remittances 16 June
Action by the UN Network on Migration 2020
Remittance Community Task Force 16 June
launches Blueprint for Action 2020
10Private sector
Kenya: Mobile-money as a public health tool 25 March GSMA’s mobile money recommendations
Action by Safaricom 2020 to central banks in response to COVID-19 27 April
Action by GSMA 2020
Philippines: Co-ops provide calamity
loans with minimal interest 30 March IAMTN’s survey to highlight issues posed
Action by NATCOO Network 2020 by the COVID‑19 crisis on remittances 29 April
Action by IAMTN 2020
Cebuana Lhuillier waives remittance fees for
donations to relief operations in the Philippines 31 March Valyou launches its e-KYC app 1 May
Action by Cebuana Lhuillier 2020 Action by Valyou 2020
Wing offers free money transfers TransferWise promotes transparency of costs 5 May
during the COVID-19 crisis 31 March Action by TransferWise 2020
Action by Wing 2020
Western Union provides fee reduction for
WorldRemit provides regular updates frontline and essential workers globally 7 May
on cash pick-up services worldwide 6 April Action by Western Union 2020
Action by WorldRemit 2020
UAE: Bank Asia offers instant money
Linking insurance with remittances transfer solutions to Bangladesh 12 May
through technology 6 April Action by Bank Asia 2020
Action by IFAD and partners 2020
Hello Paisa’s model of remitted groceries 19 May
Remitly facilitates shift to digital remittances 14 April Action by Hello Paisa 2020
Action by Remitly 2020
Eurogiro’s “Financial Supermarket” to allow
MTN’s relief package to promote post offices to offer modern financial services 20 May
cashless modes of payments 15 April Action by Eurogiro 2020
Action by MTN 2020
Facebook introduces Novi, the
Western Union provides cash home new digital wallet for Libra 26 May
delivery service on demand 16 April Action by Novi 2020
Action by Western Union 2020
Azimo offers fee-free transfers on 16 June 16 June
bKash offers international remittance Action by Azimo 2020
services in partnership with local
commercial banks in Bangladesh 21 April
Action by bKash 2020
Maybank Singapore offers complimentary
remittance services for Malaysians 25 April
Action by Maybank 2020
The campaign website
listed 44 actions taken by
public and private entities.
11Digital mobilization
IDFR 2020 celebrations were marked by COVID-19 restrictions on social gathering.
Despite the limitations, governments, private companies and international organizations
did not hesitate to play their part in recognizing the importance of family remittances,
and mobilized online.
The Virtual IDFR Observance Event
Convened by the IDFR Champions Guatemala, Building on the call for Decade of Action to deliver the
Madagascar, Moldova and the Philippines, in Sustainable Development Goals by 2030, the outcomes
partnership with the International Fund for Agricultural of the recent High-Level event of Financing for
Development (IFAD), the event commemorated the Development in the era of COVID-19 and beyond, and
International Day of Family Remittances (IDFR) the UN Secretary-General’s call for global solidarity
through high-level dialogue and support to the 2020 IDFR in responding to the pandemic, this high-level virtual event
Campaign “Building resilience in times of crisis”. Attended included a call for a set of immediate actions:
by more than 700 people, the event was inagurated
by the UN Secretary-General’s message, followed by 1. To declare remittance service providers (RSPs) as
presentations made by the following high-level speakers: essential services in times of crisis.
• H.E. Pedro Brolo Vila, Minister of Foreign Affairs 2. To ensure access to remittance services, especially
of the Republic of Guatemala in poor rural areas, and to incentivize the use of digital
• H.E. Teodoro Locsin Jr., Minister of Foreign Affairs remittance products.
of the Republic of the Philippines 3. To support the resilience and financial independence of
• H.E. James Duddridge, Minister for Africa of the remittance families by linking remittances to a full range
United Kingdom of financial services and products.
• H.E. Ion Perju, Minister of Agriculture, Regional 4. To fast track the implementation of the Global Compact
Development and Environment of the Republic for Safe, Orderly and Regular Migration’s Objective 20
of Moldova and promote faster, safer and cheaper transfer of
• H.E. Ms. Vero Henintsoa Andriamiarisoa, remittances in order to foster financial inclusion of
Chargé d’Affaires, Permanent Mission of the Republic migrant workers and their families.
of Madagascar to the United Nations
Webinar “Remittances IGC Webinar to mark
in crisis: how to keep the International Day of
them flowing” Family Remittances
On the occasion of the IDFR, Switzerland Hosted by the International Growth
and the United Kingdom, in partnership Center to mark the International Day of
with the World Bank/KNOMAD, UNCDF, Family Remittances, speakers discussed
IOM, UNDP, the International Association the impact of the decline in remittances
of Money Transfer Networks and the on the most vulnerable groups in
International Chamber of Commerce developing countries, and explored short‑
organized a webinar to build on the and long-term policy measures that can
Call to Action “Remittances in Crisis: benefit migrant workers, their families
How to Keep them Flowing”. and communities.
12Web and social media
Web traffic and social media mentions registered a surge compared to 2019.
www.familyremittances.org
(1 June – 30 June 2020)
2,337 new users
+5434% compared to last year
#FamilyRemittances on Twitter
(1 June – 30 June 2020)
2,758 mentions
+303% compared to last year
Official IDFR graphics and multimedia material were used by many organizations
to highlight key figures and messages.
13High-profile figures such as Gilbert F. Houngbo, President of IFAD; Jutta Urpilainen,
EU Commissioner in charge of international partnerships; and Socorro Flores Liera,
Ambassador, Permanent Mission of Mexico to the United Nations Office in Geneva,
used their personal profiles to support the campaign.
Many UN bodies and other international organizations also joined in.
14The uptake by the private sector was particularly noteworthy. Many private
companies not only used the campaign material, but also produced their own
adapted audio-visual content.
15Press coverage
This year’s press coverage also saw a significant increase:
News items (1 June – 30 June 2020)
501 mentions
+231% compared to last year
Articles included:
‘Emergency’ for millions as coronavirus severs remittance lifeline 1 May 2020
Covid-19 has squeezed migrants’ remittances to their families 15 June 2020
Remittances, a vital financial lifeline, are being squeezed 16 June 2020
World: Remittances and Beyond: COVID 19 impacts all forms of
16 June 2020
migrants economic contributions
Declare remittance service providers essential: UN body 16 June 2020
On International Day of Family Remittances, IFAD calls for remittance
16 June 2020
service providers to be declared essential businesses
16Annex 1
Resolution adopting the International Day of Family Remittances
Resolution adopted by Reaffirming also its resolution 69/313
of 27 July 2015 on the Addis Ababa
the General Assembly
Action Agenda of the Third International
on 12 June 2018 Conference on Financing for Development,
which is an integral part of the 2030
72/281. International Day of Agenda for Sustainable Development,
Family Remittances supports and complements it, helps to
contextualize its means of implementation
targets with concrete policies and
Sponsors of the Resolution: The General Assembly, actions, and reaffirms the strong political
Algeria, Australia, Recalling its resolutions 53/199 of commitment to address the challenge
Bangladesh, Bolivia 15 December 1998 and 61/185 of of financing and creating an enabling
(Plurinational State of),
20 December 2006 on the proclamation environment at all levels for sustainable
Brazil, Canada, China,
Colombia, Costa Rica, of international years, and Economic development in the spirit of global
Dominican Republic, and Social Council resolution 1980/67 of partnership and solidarity,
Ecuador, Egypt, El Salvador, 25 July 1980 on international years and
Ghana, Guatemala, Guinea, anniversaries, particularly paragraphs 1 Recalling its resolution 71/237 of
Guyana, Honduras, India, to 10 of the annex thereto on the agreed 21 December 2016 on international
Indonesia, Ireland, Jamaica,
criteria for the proclamation of international migration and development, in which it
Madagascar, Malawi,
Mexico, Morocco, Myanmar, years, as well as paragraphs 13 and 14, in noted the adoption of resolution 189/XXXVIII
Nepal, Nicaragua, Nigeria, which it is stated that an international day by the Governing Council of the International
Paraguay, Philippines, or year should not be proclaimed before Fund for Agricultural Development, on
Republic of Moldova, the basic arrangements for its organization 16 February 2015, in which the Governing
Russian Federation, Samoa, and financing have been made, Council proclaimed 16 June as the
Singapore, Sudan, Thailand,
International Day of Family Remittances,
Timor-Leste, Tunisia,
Uruguay and Viet Nam. Reaffirming its resolution 70/1 of
25 September 2015, entitled “Transforming Welcoming the work of the International
our world: the 2030 Agenda for Sustainable Fund for Agricultural Development to
Development”, in which it adopted a develop and promote innovative investment
comprehensive, far-reaching and people- mechanisms to increase the development
centred set of universal and transformative impact of remittances and diaspora
Sustainable Development Goals and investment for sustainable development,
targets, its commitment to working including through the Global Forum on
tirelessly for the full implementation of Remittances, Investment and Development,
the Agenda by 2030, its recognition bringing together representatives of the
that eradicating poverty in all its forms private and public sectors and of civil
and dimensions, including extreme society,
poverty, is the greatest global challenge
and an indispensable requirement for Considering that in many developing
sustainable development, its commitment countries international remittances
to achieving sustainable development in constitute an important source of income for
its three dimensions – economic, social poor families and are projected to exceed a
and environmental – in a balanced and cumulative 6.5 trillion United States dollars,
integrated manner, and to building upon of which half will reach rural areas, during
the achievements of the Millennium the 2015-2030 time frame for achieving the
Development Goals and seeking to address Sustainable Development Goals,
their unfinished business, play
17Noting that 1 billion people are directly Acknowledging that innovative digital
impacted by remittances annually, either technologies such as mobile money
as senders or as recipients, and that transfers can effectively reduce the cost of
75 per cent of annual remittance flows go the transfer of remittances, which enables
to meet the immediate needs of recipients efficiency and cost savings for senders and
and the remainder – over 100 billion dollars recipients of remittances,
a year – is either saved or invested,
1. Decides to proclaim 16 June the
Recognizing the transformative impact International Day of Family Remittances;
that remittances, including those from
migrants, have across the Sustainable 2. Invites all Member States, organizations
Development Goals and in supporting long- of the United Nations system and other
term development strategies, particularly international and regional organizations,
on poverty reduction and access to basic as well as civil society, including non-
services at the household level, and that governmental organizations, individuals,
remittances foster local investments that the private sector and academia,
can encourage entrepreneurship and to observe and actively support the
financial inclusion, especially in rural areas International Day in an appropriate
of developing countries where poverty manner and in accordance with national
rates are highest, and in times of crisis priorities, in order to raise awareness of
and disaster, the impact of remittances;
Conscious that millions of families in rural 3. Calls upon the International Fund for
areas are also supported by domestic Agricultural Development to facilitate
remittances sent by family members the observance of the International
typically living in urban locations, Day, including through the Global
Forum on Remittances, Investment
Recognizing the work done by Member and Development and mindful of the
States, the United Nations system, the provisions contained in the annex
World Bank and the Group of 20 and to Economic and Social Council
the role of civil society organizations in resolution 1980/67;
promoting the development impact of
migration and family remittances, 4. Stresses that the cost of all activities
that may arise from the implementation
Recognizing also the role of the private of the present resolution should be met
sector in developing cost-effective and from voluntary contributions;
accessible money transfer services,
including by linking them to other financial 5. Requests the Secretary-General to bring
services for remittance senders and the present resolution to the attention of
their families, and the role of all relevant Member States, the organizations of the
stakeholders in realizing by 2030 the United Nations system and all relevant
objective of target 10.c of Sustainable stakeholders for observance.
Development Goal 10, to reduce to less
than 3 per cent the transaction costs 95th Plenary Meeting
of migrant remittances and eliminate 12 June 2018
remittance corridors with costs higher than
5 per cent,
18Annex 2
RCTF’s members
Diaspora organizations – TransferWise
– Africa-Europe Diaspora – Western Union – WU
Development Platform – ADEPT – WorldRemit
– African Diaspora Network – World Savings and Retail
in Europe – ADNE Banking Institute – WSBI
Inter-governmental organizations Research organizations
– African Union (AU), African – Centro de Estudios Monetarios
Institute for Remittances – AIR Latinoamericanos – CEMLA
– Financial Action Task Force – FATF – Centre for Financial Regulation
and Inclusion – CENFRI
International organizations – Centre for Studies in International
– International Fund for Agricultural Politics – CeSPI
Development – IFAD, Financing – DMA Global – DMAG
Facility for Remittances – FFR – FinMark Trust – FMT
– International Organization – Inter-American Dialogue – The Dialogue
for Migration – IOM – Red Mangrove Development
– Making Finance Work for Advisors – RMDA
Africa – MFW4A
– United Nations Capital The Reference group organizations that
Development Fund – UNCDF have been following the process and
– United Nations Economic providing guidance to technical teams are:
and Social Commission for – Agence Française de
Western Asia – UN ESCWA Développement- AFD
– United Nations Entity for Gender – Agencia Española de Cooperación
Equality and the Empowerment Internacional para el Desarrollo – AECID
of Women – UN Women – Agenzia italiana per la cooperazione
– Universal Postal Union – UPU allo sviluppo – AICS
– World Bank Group – WBG – Deutsche Gesellschaft für Internationale
Zusammenarbeit – GIZ
Non-profit organizations – European Commission
– Financial Sector Deepening – Directorate-General for
Africa – FSD Africa International Cooperation and
Development – DEVCO
Private sector entities – Directorate-General for Economic
– Azimo and Financial Affairs – ECFIN
– Cosmo Element – Directorate-General for Financial
– Groupe Speciale Mobile Stability, Financial Services and
Association – GSMA Capital Markets Union – FISMA
– Hello Paisa – Foreign, Commonwealth &
– International Association of Money Development Office – FCDO
Transfer Networks – IAMTN – Republic of the Philippines
– International Money Transfer – Swiss Agency for Development
Conferences – IMTC and Cooperation – SDC
– Mukuru
– Novi
19International Fund for Agricultural Development (IFAD) IFAD is an international financial institution and a United Nations specialized agency dedicated to eradicating poverty and hunger in the rural areas of developing countries. Through low‑interest loans and grants to governments, IFAD builds and finances poverty reduction programmes and projects in the world’s poorest communities. Seventy-five per cent of the world’s poorest people, almost one billion women, men and children, live in rural areas of developing countries and depend on agriculture and related activities for their survival. IFAD focuses on poor, marginalized and vulnerable rural people, enabling them to access the assets, services and opportunities they need to overcome poverty. IFAD works closely with governments, other United Nations agencies, donors, non-governmental organizations, community groups and rural poor people themselves. For more information, please visit www.ifad.org International Fund for Agricultural Development Financing Facility for Remittances Pedro De Vasconcelos FFR Programme Coordinator Via Paolo di Dono, 44 – 00142 Rome, Italy Tel: +39 06 5459 2012 – Fax: +39 06 5043 463 Email: remittances@ifad.org www.ifad.org www.RemittancesGateway.org facebook.com/ifad instagram.com/ifadnews linkedin.com/company/ifad twitter.com/ifad youtube.com/user/ifadTV
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