New African Development Bank and World Bank report says 40 billion dollars remittances by African migrants in 2010 helped reduce poverty at community levels
African Development Bank and World Bank present report findings at IFAD headquarters in Rome
Rome, 7 April, 2011 – With about 30 million Africans living outside their home countries, migration is a vital lifeline for the continent. Yet African governments need to do more to realize the full economic benefits of the phenomenon, says a new report by the African Development Bank and the World Bank.
The report titled "
Leveraging Migration for Africa: Remittances, Skills and Investments" presents data from new surveys. It finds evidence that suggests migration and remittances reduce poverty in the origin communities. Remittances lead to increased investments in health, education and housing in Africa. Diasporas also provide capital, trade, knowledge and technology transfers.
Two-thirds of migrants from sub-Saharan Africa, particularly the poorest, move to other countries within the region, while more than 90 per cent of migrants from North Africa move away from the African continent. The principal destinations for African migrants are France (9 per cent), Côte d'Ivoire (8 per cent), South Africa (6 per cent), Saudi Arabia (5 per cent), and the United States and the United Kingdom (4 per cent respectively).
"African governments need to strengthen ties between diasporas and home countries, protect migrants and expand competition in remittance markets," said Dilip Ratha, main author of the report and lead economist at the World Bank, who participated via video conference at the report's presentation in Rome. "Otherwise, the potential of migration for Africa remains largely untapped."
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New African Development Bank and World Bank report says 40 billion dollars remittances by African migrants in 2010 helped reduce poverty at community levels
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