Adam Clarke on Exodus 2:24

God remembered his covenant - God's covenant is God's engagement; he had promised to Abraham, to Isaac, and to Jacob, to give their posterity a land flowing with milk and honey, etc. They are now under the most oppressive bondage, and this was the most proper time for God to show them his mercy and power in fulfilling his promise. This is all that is meant by God's remembering his covenant, for it was now that he began to give it its effect.