India received $87 billion in remittances in 2021: World Bank

India has received USD 87 billion in remittances in 2021 as per the report titled “Migration and Development Brief 35” released by World Bank and KNOMAD.
KNOMAD is supported by a multi-donor trust fund established by the World Bank.
India is also the top country in receiving remittances in 2021. India is followed by China, Mexico, the Philippines, and the Arab Republic of Egypt.
As per the report, in 2021, remittance flows to low- and middle-income countries (LMICs) are projected to reach $589 billion. Also, the United States was the largest source country for remittances in 2020, followed by the United Arab Emirates, Saudi Arabia, and Switzerland.

Points to remember:

KNOMAD is supported by a multi-donor trust fund established by _____?- the World Bank
The report “Migration and Development Brief 35” has been released by?- World Bank and KNOMAD
Top country to receive remittance in 2021?- India
Amount of remittance received by India in 2021?
largest source country for remittances in 2020?- USA