In its information note on migration and development published this Thursday, November 18, 2021, the World Bank reveals a 6.2% rebound in remittances to low- and middle-income countries. These remittances stood at $589 billion in 2021.

The World Bank notes a 6.2% increase in remittances to low- and middle-income countries in sub-Saharan Africa. This rebound greater than previous forecasts confirms the robustness of flows already observed in 2020, when migration remittances fell by only 1.7% despite the severe global recession caused by the Covid-19 pandemic. According to the Bretton Woods institution, for the second consecutive year, remittances to low- and middle-income countries (excluding China) are expected to exceed the sum of foreign direct investment (FDI) and official development assistance (Apd). This observation underlines the importance of these flows, which constitute a real lifeline by allowing households to finance essential products such as food, health and education during periods of economic difficulty in the countries of origin of the immigrants.