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IFAD: Migrants "lifting millions out of poverty" by sending money home
15.06.2017 08:02 "Agro Perspectiva" (Kyiv) —
The amount of money migrants send to their families in developing countries has risen by 51% within over the past decade, UN Radio says referring to the International Fund for Agricultural Development (IFAD) latest report.
It is to be admitted, the report covers a 10-year period of migration and remittance flows, between 2007 and 2016.
A remittance is the funds a foreign worker sends to his or her country of origin.
The report shows that there have been increases in almost all regions of the world.
However, the sharp rise over the past decade is in large part due to Asia which has witnessed an 87 per cent increase in remittances.
As to the report, over 200 million migrant workers are now supporting an estimated 800 million family members globally.
It is to be admitted, the small amounts of US$200300 that each migrant sends home make an enormous difference within the lives of their families and their communities.
The report has been issued ahead of the International Day of Family Remittances (commemorated annually Jun 16).
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