Remittances from Europe could transform rural communities

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Money from migrant workers in Europe could transform rural communities back home. Photo: IFAD video caption

Migrant workers in Europe sent nearly $110 billion to their home countries last year, according to the International Fund for Agricultural Development (IFAD).

With 40 per cent of that amount going to rural areas, IFAD says remittances can play a role in transforming vulnerable communities.

The UN fund has launched a report which recommends reducing the cost of sending money abroad and improving migrant workers' access to savings and credit so as to increase investment in their homelands.

IFAD's James Heer has the story.

Duration: 2'44"

Filed under Today's Features.
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