Statement of the Deputy Director General of the Universal Postal Union on International Day of Family Remittances

15.06.2018 - Our globalized world is powered by connections. Nowhere is this more obvious than with remittances that sustain families and communities over huge distances.

For millions of migrant families, money sent home is often the difference between seizing opportunities and standing on the edge of calamity.

In 2016, US$429 billion was sent home to developing countries, a figure more than three times greater than the official development support provided in the same year.

Studies have also found that a 10 per cent increase in per capita remittances can reduce the number of people living in poverty in a country by 3.5 per cent. 

That is thousands of women, children and men pulled out of poverty’s grip and given hope for better lives and better opportunities.

At the Universal Postal Union (UPU), we believe that postal operators have a pivotal role to play in these efforts. Work that is also crucial for achieving the 2030 Agenda for Sustainable Development, especially Goal 10 on inequality targeting reductions in the cost of remittances.

With their broad networks reaching deep into rural and impoverished areas, post offices can offer cost effective remittances that are part of the overall push to deepen financial inclusion in countries.

Posts were founded on the delivery of a universal service obligation—a network of networks for everyone on this planet.

We believe this obligation to provide a public service can be harnessed to ensure that families everywhere access financial services.  

Today, Posts are driving innovation and creativity through digital financial services, and with two billion bank accounts, they are second only to banks in promoting financial inclusion.

Their potential is clear.

On the International Day of Family Remittances, UPU pledges it will work with its partners to help postal operators build an inter-connected network capable of delivering low-cost remittances to families, even in the remotest areas.  

Press release
 

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  1. Dirk at 19.01.2016
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