The International Day of Family Remittances is observed on June 16 each year to honor the contribution of migrant workers who send part of their earnings back to their families. The observance began in 2015 through an initiative of the UN's International Fund for Agricultural Development, and was later formally recognized by the UN General Assembly as a day of global significance. Remittances sent by migrants represent one of the largest sources of external financing for developing countries, often exceeding total official development assistance combined. This money flows directly to households, helping cover food, education, and healthcare costs, and strengthening the resilience of rural communities against poverty and economic shocks. The day aims to recognize the efforts of migrant workers and their families, while advocating for lower money-transfer costs and wider access to formal financial services, so that more families can fully benefit from these vital resources.