Philippines Co-Hosts Event on Remittances Advancing Development
Permanent Representative Amb. Antonio M. Lagdameo welcomes participants to the breakfast event, “Remittances Financing Development,” officially launching the International Day of Family Remittances (IDFR) 2025 campaign on 10 February 2025 at the IFAD office in New York. (Photo credit: NYPM)
NEW YORK 14 February 2025 – The Permanent Missions of Philippines and Guatemala together with the International Fund for Agricultural Development (IFAD), hosted a breakfast event launching the International Day of Family Remittances (IDFR) 2025 campaign at the IFAD office in New York. The event, themed “Remittances Financing Development,” underscored the vital role remittances play in supporting sustainable development in the context of the Fourth International Conference on Financing for Development (FfD4).
Held at the sidelines of the Third Session of the Preparatory Committee for FfD4, the breakfast event brought together delegates and other stakeholders to discuss policies and mechanisms that maximize the development impact of remittances.
The event also focused on refining the FfD4 outcome document by advocating for more ambitious language that highlights the crucial role of remittances in supporting vulnerable populations and driving inclusive development. Additionally, it discussed actionable recommendations for Member States and key partners to enhance the development impact of remittances, particularly for women and rural communities, through supportive policies and innovative financial solutions.
Ambassador Antonio M. Lagdameo, Permanent Representative of the Republic of the Philippines to the United Nations, welcomed participants, emphasizing that “[F]or the Philippines, remittances are more than just financial flows — they are a testament of the important role of migrant workers and their families, who serve as a driving force for inclusive growth and sustainable development in their countries of origin and destination.”
After noting that the Philippine Government has long prioritized policies that protect migrant workers and maximize the benefits of remittances, Ambassador Lagdameo urged participants to “ensure that the outcome document recognizes and reinforces the crucial role of remittances in promoting and advancing the sustainable development agenda.”
Vice-Minister of Foreign Affairs H.E. María Luisa Ramírez of the Republic of Guatemala highlighted the role of remittances in reducing poverty and driving local economic growth, calling for enhanced international cooperation to scale up financial inclusion initiatives, with a view to protect migrant rights and ensure remittances drive social mobility rather than inequality.
Pedro de Vasconcelos, Manager of the Financing Facility for Remittances (FFR) of IFAD, presented the 2025 Campaign of the International Day of Family Remittances, stressing that the campaign calls for a renewed and expanded commitment to fully maximize the impact of remittances in achieving the Sustainable Development Goals (SDGs) in lower- and middle-income countries. He also highlighted the importance of public-private partnerships and innovative financing mechanisms to ensure remittances contribute to sustainable development and economic resilience.
During the exchange of views, delegates emphasized how remittances serve as a lifeline for millions of families, providing essential funding for education, healthcare, housing, and entrepreneurship, and echoed the need for lower remittance costs, increased digital financial inclusion, and stronger regulatory frameworks to enhance access to affordable and secure financial services. Several participants reaffirmed the need for concrete actions that in the FfD4 outcome document.
The IDFR, adopted by the UN General Assembly in 2018 (A/RES/72/281) and observed annually on 16 June, recognizes the contributions of migrants worldwide to their families, communities, and home countries. The 2025 IDFR Campaign aims to highlight the role of remittances in achieving the SDGs and calls for greater efforts in recipient countries to maximize the impact of remittances towards household stability, economic and climate resilience, and sustainable local development.
The FfD4 is aimed at mobilizing financial resources and policy frameworks to support the 2030 Agenda for Sustainable Development, with its outcome document intended to serve as a new global framework outlining commitments, strategies, and recommendations for sustainable financing and international economic cooperation. END
For more information, visit https://www.newyorkpm.dfa.gov.ph, https://www.un.int/philippines or https://www.facebook.com/PHMissionNY/.