Maxim News Network: remittances by African migrants'

Maxim Network News: October 21, 2009 - IFAD: Send Thirty million African immigrants over $ 40 billion home to their families each year, according to a new study by the UN International Fund for Agricultural Development (IFAD). Thirty million African immigrants send more than $ 40 billion home to their families each year, according to a new study by the UN International Fund for Agricultural Development (IFAD). And while the money provides a lifeline for many in the worldThe recession is to reduce their potential to be more severe poverty, high transfer costs and the lack of information on remittances, thereby reducing the reports authors. The report sends money home to Africa to be presented at the Global Forum on Remittances 2009, in Tunis, 22-23 October from IFAD and the African Development Bank (ADB) is organizing. Globally, remittances, the upper part of the United States exceeds 300 billion U.S. dollars a year, with foreign direct investment and development aid. During transferCosts are in Latin America and Asia was the money sent home to Africa is still expensive, the report said, costing as high as 25 percent of the total in some regions. Currently, two major money-transfer company Western Union and Money Gram - with almost 65 percent of all remittances to control networks. At the same time, most African countries, the types of institutions that offer remittance services to microfinance institutions favored greater...