US$640 billion a year for development hiding in plain sight

News published on Aug 2, 2023 @ 8:46 am

This week we take a look at remittances — or, as Pedro de Vasconcelos from the United Nations agriculture fund, IFAD, likes to think of it: over US$640 billion a year hiding in plain sight.  That’s how much went to low- and middle-income countries in 2022 through the 200 million migrant workers sending money back home to 800 million recipients.

Digitalization+ Remittance families and development
Focus Region
Africa+ Global