Statement of the IOM Director General on the International Day of Family Remittances 2025.

“When migrants send money home, they are doing far more than providing for their families,” said IOM Director General Amy Pope. “They are building stronger communities, boosting local economies, and helping entire regions recover and grow. Remittances support children’s education, allow women to start businesses, and provide a vital cushion in times of crisis. When invested wisely, they are a powerful tool for development that benefits both countries of origin and destination.”

Read the full Statement of the IOM Director General, Emy Pope on the International Day of Family Remittances 2025;  June 16th.



16 June



Comments

Post a Comment

Popular posts from this blog

The role of remittances in achieving the SDGs.

Image
The 2030 Agenda for Sustainable Development , adopted in September 2015, is a global commitment to eradicate poverty and achieve sustainable development by 2030 , ensuring that no one is left behind. Its 17 specific Sustainable Development Goals (SDGs) address the major challenges facing the world today. SDG 10.c commits, by 2030, to reduce to less than 3% the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5%. Migrant remittances, however, contribute directly and indirectly to several SDGs in addition to 10.c, as outlined in IFAD’s Remittances, investments and the Sustainable Development Goals report.
Read more

Potential for investment.

Image
Current estimates are that 75% of remittance flows go to meet immediate needs, but the other 25% – over US$100 billion a year – is available for other purposes. Given better opportunities to save and investment options, migrants’ families will be better able to channel remittances toward long-term needs and live better lives. And because many migrant workers will eventually return home, helping them build assets is a central development policy objective. The projected US$4.5 trillion in remittances to be received by families living in LMICs by 2030 represent a tremendous opportunity. Remittances count especially in the small rural towns and villages of developing countries. In 2021, almost one hundred low- and middle-income countries, the majority with large rural populations , each received at least US$100 million in remittances. It is here that remittances can help make migration more of a choice than a necessity for future generations.
Read more