Foreign remittances could overtake FDI and aid, says Asian Development Bank

Foreign remittances could overtake FDI and aid, says Asian Development BankThe Asian Development Bank — http://www.adb.org — predicted that in most developing countries in
Asia foreign remittances are growing at a rate that will make them exceed FDI flows and overseas development assistance combined in the near future. Foreign remittances are currently estimated to exceed US$200 billion annually, with four countries in Asia (India, the Philippines, China and
Pakistan) being the largest recipients. For these beneficiaries, foreign remittances have become a large and growing source of national income, a trend that is likely to continue. http://www.adb.org/Documents/Events/2005/ADB-IADB-MIF-UNDP/default.asp

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