Bangladesh 8th most remittance receiving country in world in 2020: World Bank

Info Source: 12:07 PM, October 31, 2020 / LAST MODIFIED: 12:10 PM, October 31, 2020

World Bank, in one of its reports, projects that Bangladesh will see increased remittance flow and secure eighth position in the world in terms of it in 2020.

WB revealed the prediction in the report titled "COVID-19 Crisis Through a Migration Lens" published on October 29.

According to the projection, two South Asian countries will see increase in remittance flow despite the pandemic.

Bangladesh will gain eight percent more remittance this year, according to the report. The total remittance flow will be USD 20 billion, WB projected.

Mainly, remittance flow will pick up through official and unofficial channels due to restrain in travelling, the report said.

The other South Asian country with increased remittance flow would be Pakistan. It will be in the sixth position with nine percent more remittance flow.

Although, India will be the first on the list in terms of total remittance flow, it's projected to be nine percent less than the previous year.

South Asia will lose four percent of the total remittance flow compared to last year and the world will lose 14 percent, the WB also mentioned in its projection.