Amidst the corona crisis, the World Bank has said that due to the global recession arising out of the coronavirus epidemic, there is a possibility of a 23 percent decrease in the amount of money sent from abroad to India. The bank said that it could come down to $ 64 billion this year from last year's $ 83 billion. According to the report released by the World Bank on Wednesday, global remittances are expected to fall by 20 percent this year due to the Coronavirus epidemic and economic crisis due to lockdown. This projected decline will be the fastest decline in recent history.

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The money sent to India is estimated to fall by 23 percent in the year 2020, due to which it can be $ 64 billion. Earlier in the year 2019, $ 83 billion money was sent to India. World Bank Group President David Malpas said that remittances are an important source of income for developing countries. He said, "The current economic crisis due to Kovid-19 is affecting the ability to send money to developing countries."

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The World Bank said that remittance money is coming down due to a reduction in salary of migrant labourers and a decrease in employment. Malpas said that remittances help families to meet food, health care and basic needs. He said, 'The World Bank Group is committed to providing quick support to the countries. We are working to keep the channels of help open and protect the poor communities.

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