Remittances sent to Albania from Italy, 30% of the total

Remittances sent to Albania from Italy, 30% of the total

A report published by the International Fund for Agricultural Development (IFAD) about remittances and their distribution throughout the world shows that emigrants that work in the European continent have sent about $109.4 bln to their homelands during 2014.

According to the study, the remittances helped about 150 millions of people throughout the world, given that 2/3 of the remittances have as destination the undeveloped countries in Asia and Africa.

Meanwhile in Albania, 30% of the total amount of remittances that are sent to Albania by emigrants that live in other European countries come from Albanian emigrants working in Italy, says the report. Remittances in Albania play a crucial role to the economy and also have an immediate effect in cases of economic crisis or economic revival of European Union countries as Italy, Greece, Germany, the UK and France.

1/3 of the total of remittances from East Europe emigrants come from Russia and other developed countries of Western Europe. According to the World Bank statistics, remittances sent from Russia comprise the highest amount of money sent by emigrants, compared to other European countries, about $20.6 bln during 2014. They are sent mostly in Ukraine, Poland and Rumania.

News source/photo credits: Shqiptarja.com

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