{"id":58132,"date":"2025-06-25T08:49:39","date_gmt":"2025-06-25T08:49:39","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024"},"modified":"2025-06-25T10:21:42","modified_gmt":"2025-06-25T10:21:42","slug":"migrant-workers-sent-685-billion-in-remittances-2024","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024","title":{"rendered":"Migrant Workers Sent $685 Billion in Remittances 2024"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>The UN\u2019s International Fund for Agricultural Development celebrated Tuesday’s 10th anniversary of the International Day of Family Remittances. This recognizes the power of remittances and advocates for migrant workers\u2019 sacrifice and contribution to rural development and poverty alleviation.<\/b><\/p>\n

\u201cToday, on the International Day of Family Remittances, we honour 200 million migrants who support 800 million loved ones back home. These flows now surpass aid and foreign direct investment in low- and middle-income countries. They fund food, health, education, and entrepreneurs,\u201d said Alvaro Lario, the President of IFAD<\/p>\n

In 2024, over 200 million migrant workers from low- and middle-income countries sent approximately US$685 billion in remittances to 800 million family members in their countries of origin.<\/p>\n

Bibha lives with her family in the Chinnamastral region of Nepal, but her husband lives and works thousands of miles away in Qatar. Every month, he sends money home.<\/p>\n

While Biba\u2019s family has a small income, when remittances fail to arrive, the whole family\u2019s economy is at risk.<\/p>\n

In 77 other developing countries, like Nepal, remittances are a vital source of external capital, and in 30 of them, these flows represent more than 10% of GDP.<\/p>\n

This staggering amount surpasses official development assistance (ODA) and foreign direct investment (FDI) combined in most developing countries.<\/p>\n

Nearly one-third of these funds reach rural areas like Bibha\u2019s village in Nepal.<\/p>\n

IFAD\u2019s experience demonstrates that families receiving as little as an average of US$300 per month (the global average) are more likely to invest in small businesses, home improvements, and climate-smart farming that help them adapt.<\/p>\n

Digitalization can fast-track progress toward achieving the universal target of reducing remittance costs to 3% by 2030, potentially saving up to US$20 billion each year for those who need it most.<\/p>\n

Looking ahead to the Fourth International Conference on Financing for Development (FfD4), IFAD urges governments, financial institutions, and international organizations to harness remittances’ transformative power fully. This means putting the right tools, policies, and partnerships in place to ensure migrant contributions are protected and valued.<\/p>\n

The UN\u2019s International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries.<\/p>\n

Source: Africanews<\/b><\/p>\n

For More News And Analysis About Lesotho<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. The UN\u2019s International Fund for Agricultural Development celebrated Tuesday’s 10th anniversary of the International Day of Family Remittances. This recognizes the power of remittances and advocates for migrant workers\u2019 sacrifice and contribution to rural development and poverty alleviation. \u201cToday, on the International Day of Family Remittances, we honour 200 million migrants who […]<\/p>\n","protected":false},"author":84,"featured_media":58131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[4375,4911,6125,245],"class_list":["post-58132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-economic-development","tag-financial-aid","tag-funds","tag-lesotho"],"yoast_head":"\nMigrant Workers Sent $685 Billion in Remittances 2024 - Lesotho<\/title>\n<meta name=\"description\" content=\"The UN\u2019s International Fund for Agricultural Development celebrated Tuesday's 10th anniversary of the International D ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Migrant Workers Sent $685 Billion in Remittances 2024\" \/>\n<meta property=\"og:description\" content=\"The UN\u2019s International Fund for Agricultural Development celebrated Tuesday's 10th anniversary of the International D ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-25T08:49:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-25T10:21:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/06\/sm_1750830590.223949.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"538\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Migrant Workers Sent $685 Billion in Remittances 2024\",\"datePublished\":\"2025-06-25T08:49:39+00:00\",\"dateModified\":\"2025-06-25T10:21:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\"},\"wordCount\":383,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/06\/sm_1750830590.223949.jpg\",\"keywords\":[\"Economic Development\",\"Financial aid\",\"Funds\",\"Lesotho\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/migrant-workers-sent-685-billion-in-remittances-2024\",\"name\":\"Migrant Workers Sent $685 Billion in Remittances 2024 - 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