Remittances are three times greater than aid – how can they go even further?

This year the World Bank expects remittances to reach over $600bn; they will play a crucial role in fundings the SDGs

When people in developed countries complain about the amount of aid sent to developing countries, the retort is a return volley of cold, hard facts: “Remittances sent to all countries in 2012 (developing and high income) was $534bn, three times greater than aid budgets to the developing world. In 2016, the World Bank expects remittances to reach over $600bn, with over $440bn being sent to developing countries”.

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