More than US$650 billion was sent to low- and middle-income countries in #Remittances in 2024—an amount that exceeds the combined volume of official development assistance and foreign direct investment.
Yet remittances rarely make headlines. Much of the focus on the impacts of the conflict in the Middle East has been on fuel, fertilizer, and other supply chain disruptions that rippled through the global economy. But the situation also exposed remittances as a critical economic lifeline that flows through the region.
As one of the world’s largest remittance corridors, the Gulf has demonstrated in real-time just how critical, yet resilient, these flows are. What we’ve seen during crises is that family members continue sending money home to support their relatives.
In many countries, remittances have become a stabilizing force for household incomes, foreign exchange reserves and local economies, particularly in rural areas. A third of these flows reach rural areas, where beyond helping families meet basic needs, they also support local agrifood systems, small businesses, value chains and employment.
Today, we mark the 11th International Day of Family Remittances as families around the world confront many overlapping economic, conflict, and climate shocks.
In my message below, I reflect on why we must maximize the potential of remittances as a driver of economic prosperity and social stability, and how IFAD and its partners are working to do exactly that at the first mile.
#FamilyRemittances#IDFR26#IFADImpact#FinancingTheFirstMile
Remittances are one of the world's most resilient financial flows, directly supporting 800 million people across the globe.
But they can do even more. With the right policies, partnerships, and financial access, remittances at the first mile can connect rural communities to
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