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Views: Visits 7 The World Bank says remittance inflows to Nigeria declined by 28 per cent in 2020 because of COVID-19 pandemic. The Bank also said remittance flows fell for Sub-Saharan Africa by 12.5 per cent, according to its Migration and Development Brief 33 Phase 11 entitled: “COVID-19 Crisis Through a Migration Lens’’ published on Thursday. The report said the decline in remittance flows to Nigeria was largely responsible for the fall in remittance flows to Sub-Saharan Africa. “The decline in flows to Sub-Saharan Africa was almost entirely due to a 28 per cent decl...

By Yinka Kolawole, with agency report The World Bank has reported that remittances by Nigerians in diaspora fell by 27.7 per cent to $16.8 billion in 2020 from $23.24 billion. The World Bank disclosed this in a report titled, ‘Migration and Development Brief’, which also revealed that remittance flows to low- and middle-income countries fell by 1.6 per cent to $540 billion in 2020 from $548 billion in 2019. The report, which provided updates on global trends in migration and remittances, revealed that remittances to Sub-Saharan Africa fell by 12.5 per cent to    $42 billion in 2020, wit...

updated: May 13 2021, 08:19 ist India received over $83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report. China, which received $59.5 billion in remittances in 2020 against $68.3 billion the previous year, is a distant second in terms of global remittances for the year gone by, as per the latest World Bank data released on Wednesday. In 2019, India had received $83.3 billion in remittances. The report said India's remittances fell by just 0.2 per cent in 2020, with much of...

India received USD 83 billion in remittances in 2020: World Bank report The report said India's remittances fell by just 0.2 per cent in 2020, with much of the decline due to a 17 per cent drop in remittances from the United Arab Emirates. Share Via Email   |  A+A A- By PTI WASHINGTON: India received over USD 83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report. China, which received USD 59.5 billion in remittances in 2020 against USD 68.3 billion the previous year...

The World Bank report says Nigeria alone accounted for over 40 per cent of remittance flows to the Sub-saharan region.