"Online resource center about migrant philanthropy in the Philippines— with useful information, statistics, and thoughts to ponder about the benevolence of Filipinos abroad."
Site: Philippine Diaspora Philanthropy Portal
Monday, October 29, 2007
IFAD-MIF/IDB Report and Map: "Sending money home: Worldwide remittances to developing countries"
"The importance of remittances to poverty alleviation is obvious, but the potential multiplier effect on economic growth and investment is also significant.
The driving force behind this phenomenon is an estimated 150 million migrants worldwide who sent more than US$300 billion to their families in developing countries during 2006, typically US$100, US$200 or US$300 at a time, through more than 1.5 billion separate financial transactions. These funds are used primarily to meet immediate family needs (consumption) but a significant portion is also available for savings, credit mobilization and other forms of investment. In other words, the world’s largest poverty alleviation programme could also become an effective grass roots economic development programme, particularly in the rural areas that present some of the greatest challenges to financial inclusion."
See IFAD's site and IDB Press Release
The driving force behind this phenomenon is an estimated 150 million migrants worldwide who sent more than US$300 billion to their families in developing countries during 2006, typically US$100, US$200 or US$300 at a time, through more than 1.5 billion separate financial transactions. These funds are used primarily to meet immediate family needs (consumption) but a significant portion is also available for savings, credit mobilization and other forms of investment. In other words, the world’s largest poverty alleviation programme could also become an effective grass roots economic development programme, particularly in the rural areas that present some of the greatest challenges to financial inclusion."
See IFAD's site and IDB Press Release
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