On average, remittances represent up to 60 per cent of a recipient family’s income, and typically more than double its disposable income. These funds allow families to build assets and deal with uncertainty.
Analyses of 71 developing countries show significant poverty reduction effects of remittances: a 10 per cent increase in per capita remittances leads to a 3.5 per cent decline in the share of poor people in the country’s population.
Promote affordable and safeaccess to remittances from the first to the last mile, particularly in rural areas, which receive 40 per cent of all flows and where remittances count the most.
Provide value-added financial and non-financial services to remittance families to facilitate productive investment of their funds and further build assets for a more secure future.