WB Report: India becomes world’s largest recipient of remittances
as per latest report world Bank Topic ‘The World Bank’s Remittance Values Worldwide Database’, India becomes world’s largest recipient of remittances USD 87 billion in 2021. United States of America (USA) was its largest source, accounting for over 20% of these funds. India is after China, Mexico, the Philippines and Egypt. In India, remittances are projected to grow by 3% to USD 89.6 billion in 2022.
Important facts for all competitive exams:
- Establishment of the World Bank: July 1944;
- World Bank Headquarters: Washington DC, USA;
- President of the World Bank: David Robert Malpass.
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