Konferenzservice Mandl

Zusammenfassung: The African Remittance Conference (AREC), which will hold in Yaounde, is the initiative of the Institute of Financial and Development Studies (IFIDS), an independent financial thinktank, in partnership with the Government of Cameroon through the Ministry of Finance.

Remittances - money sent home by migrant workers - have been ballooning in the last couple of years, and in many developing countries now exceed the combined volume of international aid and foreign direct investment.

Although remittances have been growing at an astonishing rate of about 30 percent annually, reaching over 250 billion U.S. dollars in 2006 according to the World Bank, Africa?s share of this new source of wealth is about 7 percent of the global total. Furthermore, close to 90% of the funds reaching Africa through remittances are spent on mostly social needs.