Sending Money Home: Contributing to the SDGs, one family at a time

The implementation of Agenda 2030 will require a great amount of financial resources. With the expected flow of US$6.5 trillion in remittances to low- and middle-income countries until 2030, IFAD conducted an analysis of the potential contributions to reducing poverty. Although most of these resources will be used for the fulfillment of personal goals,a considerable amount will be invested in mid- or long-term activities that will ultimately help reduce poverty and implement the SDGs.

In the last decade, the remittances to developing countries have risen by more than 50%. An estimated 800 million people worldwide are directly supported by remittances and for some countries, these financial resources account for more than 20 per cent of GDP. These developing countries are economies in transition with majority of the population living in rural areas, so almost 40 per cent of total remittances flow to rural areas, directly affecting rural livelihoods and agriculture economy. The report highlights the potential positive impact of remittances, but also warns that political coherence will be required to utilize this potential.