Remittances in Africa is a review that catalogues the main studies, policy, and technical assistance programs undertaken on remittances in Africa that have been carried out by the World Bank, development partners, and governments in order to provide support leading up to the creation of the African Institute for Remittances (AIR) project. The review of Remittances in Africa includes work on remittance costs and trends, scope and importance of remittances to Africa, financial markets and infrastructure that drive up remittance costs, the impact of new technology on remittances, the legal and regulatory framework governing remittance flows, and the impact of remittances on households and national policy. This review is considered a ―living document and will be revised and updated periodically to reflect ongoing activities and trends.
Migrant remittances have become a major source of financing for developing countries and are particularly important in Sub-Saharan Africa. The increasing role of remittances, especially their ability to remain resilient during periods of economic and financial crises, has spurred an interest in development practitioners who wish to understand the nature, potential development impact, and policy implications of remittance flows.