International Day of Family Remittances 2025: Maximizing a Safety Net for Rural Senegalese Families

At an event marking the International Day of Family Remittances (IDFR), the International Fund for Agricultural Development (IFAD) highlighted the importance of maximizing the impact of money sent by Senegalese working abroad for the well-being of rural families.

Financing gaps for development are large and growing – with estimates that $4 trillion of additional investment is needed annually for developing countries. Remittances are already playing a crucial role in reducing this financing gap, providing a reliable and direct source of funding at the household level. In Senegal, remittances exceeded 1500 billion XOF (over $2 billion) in 2022, accounting for around 10 per cent of the country's Gross Domestic Product (GDP). These crucial financial flows provide a safety net for millions of rural families, supporting immediate needs as well as income-generating activities and long-term investments in health, education and housing.