Remittances and savings of the diaspora can finance development

Mahmoud Mohieldin was Corporate Secretary and the President’s special envoy at the World Bank. Dilip Ratha was head of the World Bank Migration and Remittances Unit and Global Knowledge Partnership on Migration and Development.

On the 1 August 2014 EurActiv posted an article written by Mr. Mohieldin and Ms Ratha in which they stated that there are more than 230 million international migrants worldwide. To help finance development, new 'diaspora' financial instruments, or diaspora bonds, could be created.

• Primary Source

The World Bank: Migration and Development Brief 22: 11.04.14: Migration and Remittances: Recent Developments and Outlook http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1288990760745/MigrationandDevelopmentBrief22.pdf

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