Migrant remittances

Migrant remittances 2007-10-25

Migrants send home $300 billion in 2006

According to a new study just published in Washington D.C. by the International Fund for Agricultural Development (IFAD) and the Inter-American Development Bank (IDB), migrants working abroad in industrialized nations around the world sent up to $300 billion U.S. dollars (~€240 bln at 2006 exchange rates) back to their home countries during 2006. This is nearly three times more than the total foreign aid to developing nations.