Do you know that the 16th of June has been declared the INTERNATIONAL DAY OF FAMILY REMITTANCES by 176 governments in the world?
The first celebration took place last year at the GLOBAL FORUM ON REMITTANCES AND DEVELOPMENT, June 16-19 , 2015 in Milan, Italy as part of the World Expo. The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, is the institution behind the idea and the development of the IDFR. The IMTC was part of the first celebration in Milan where the international community recognized the work of the private sector in facilitating the sending of remittances, in developing cost-effective and accessible financial transfer services, and encouraged the industry to link these flows to a range of financial services and products for migrants and their families.
This day is important in order to capitalize on the potential of remittances to further help meet the economic, social and environmental challenges confronting developing countries.