Remittances have become a rising source of foreign exchange and hold immense potential as drivers of economic growth and development for ADB’s developing member countries (DMCs). Generally, remittances can have positive impacts to the receiving countries. Remittances can reduce the poverty level, and lead to higher education and health expenditures at household level. Remittance can have a positive effect on the country’s economic growth. Remittances also tend to be more stable than private capital flows, and may even be counter-cyclical relative to the recipient country’s economy. Remittances can provide capitals to micro and small enterprises, promote entrepreneurship, and generate employment opportunities.
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