Ria celebrates Inaugural International Day of Family Remittances

Families are at the heart of our business.

We understand that remittances can make up a significant portion of some families’ earnings each year and are relied upon to ensure the wellbeing and stability of many people worldwide. In fact, remittances, which accounted for about $436 billion to developing countries in 2014, make up more than three times the Official Development Assistance (ODA) budget that is allocated each year.

June 16, 2015 marks the first International Day of Family Remittances. The initiative, which is being led by the International Fund for Agricultural Development (IFAD), a specialised agency of the United Nations, will be observed at the Global Forum on Remittances and Development (GFRD) in Milan, Italy, June 16-19 at the Stella Polare Conference Centre. During these dates Ria will also have a booth at the Remittance Marketplace on the ground floor.

As a global facilitator of low-cost remittances, Ria would like to recognise this day and acknowledge and thank the families that faithfully patronise our services.

“Ria exists thanks to the more than 240 million people that had the courage to leave their home countries and their families to seek opportunities that would give all of them a better future,” says Ria’s President and CEO Juan Bianchi.

“The inaugural International Day of Family Remittances is an initiative which not only recognises the sacrifice of all the migrant workers – many of whom work within Ria – but also their families, which benefit from these regular flows of money. Worker Migration is not a vacation; it is sacrifice and hard work, with a neat story behind each remittance that is sent.

“At Ria we could not be prouder of being a small part in each of those stories. This day is also an opportunity to reconfirm our company’s commitment to the communities we serve through providing our affordable services in over 246,000 locations worldwide,” he adds.

Ria’s Managing Director for EMEA & South Asia, Sebastian Plubins, who will participate in a GFRD panel discussion on the topic of The Global and European Remittance Markets, says, “With over $580 billion in remittances sent in 2014, these private flows of money have the ability to impact many people’s lives. They are a source of stability not only for the families that receive them, but for many developing economies, acting as a direct form of support when challenges arise. They help to pay for education, medical expenses, and family assistance and also act as direct investment.

“Our customers rely on the services we provide to deliver their remittances safely each month, and we don’t take our responsibilities lightly. This day is an excellent initiative and we look forward to more bi-lateral discussions between the private and public sectors about ways to improve the remittance industry and to harness these flows for development,” he concludes.