• Wednesday, Sep 22, 2021
  • Last Update : 11:37 am

World Bank forecasts 8% surge in remittance for Bangladesh

  • Published at 03:07 pm October 31st, 2020
Web-US-Dollar-Remittance
Representational photo: Bigstock

Despite the pandemic inducing a global economic shutdown the remittance flow remain unaffected

The World Bank projected Bangladesh’s inward remittances to grow about 8% to reach about $20 billion in 2020.

The global lender made the projection in its latest report titled “Covid-19 Crisis through a Migration Lens” released on Friday.  

“Three large recipients of remittances — Mexico ($39 billion in 2019), Pakistan ($22 billion), and Bangladesh ($18 billion) — stand out as exceptions to the general pattern. These countries escaped a decline in remittance inflows in the second quarter and seem to register increases in the third one,” read the report. 

In Bangladesh, remittances are projected to grow at a rate of 8% to around $20 billion, the report added.

The country received remittance worth $18.21 billion in the fiscal year 2019-20.

The report also said, in both Pakistan and Bangladesh, the negative impact of the Covid-19 induced global economic slowdown has been somewhat countered by the diversion of remittances from informal to formal channels due to difficulty in carrying money in person under travel restrictions. 

The government’s incentives to transfer remittances is also helpful in this regard.

55
Facebook 51
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail