| According
to the World Bank Global
Economic Prospects 2006, remittances to developing countries
were expected to reach US $167 billion dollars in 2005 and
become the largest source of external finance for developing
countries, exceeding the amount of foreign direct investment
or official development aid that countries receive every year.
From
a development perspective, one of the major challenges for
policy-makers, the private sector, and the international community
is to leverage the growing volume of remittance flows to provide
access to financial services to millions of poor people and,
thus, contribute to reduce poverty and promote economic growth.
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Further Details
Mr. José De Luna Martinez
Senior
Financial Economist
Financial and Private Sector Development
World Bank
1818 H Street, N.W. Washington, DC 20433
United States
Jdelunamartinez@worldbank.org
Tel.:+1.202.458.0367
Fax:+1.202.522.2433
Mr. Kamil Borowik
Junior Professional Associate
Financial and Private Sector Development
World Bank
1818 H Street, N.W. Washington, DC 20433
United States
Kborowik@worldbank.org
Tel.:+1.202.458.9193
Fax: +1.202.522.2433
|
