The World Bank has come with some new ideas for remittances coming into
India, China, Philippines, Mexico, and Nigeria that is to build infrastructure.
This idea come from seeing how much money those countries earn from citizens
that working overseas. Sorting from the first of the list are $70bn, $64bn, and
$28bn for Philippines. For total sum last year is $583bn on the official flow.
This money usually uses
to send kids to school, wedding payment, buy a car, or build a house. However,
The World Bank wants the money to be put in use for the beneficial of their
country. They see the remittances can be used as potential resource for
developing their country. For example, build a bullet train in India and international
airport in Nigeria.
The remittances from
overseas working citizen are seen as more stable than any other income in
developing country. Even though the remittances are expected to grow slower
this year, they are still estimated to rise at $586bn and will keep rise and
come about $610bn in 2016 and $636bn in 2017, according to the World Bank.