India was world’s largest remittance recipient in 2015

India remained the world’s largest recipient of remittances from abroad in 2015, despite a $1 billion drop from the previous year, the first such decline since 2009. 

According to world bank report India retained its top spot in 2015, attracting about $69 billion in remittances, down from $70 billion in 2014, the World Bank said in its annual report ‘Migration and Development Brief’. Other large remittance recipients in 2015 were China ($64 billion), the Philippines ($28 billion), Mexico ($25 billion) and Nigeria ($21 billion).

According to the report, the growth of remittances in 2015 slowed from eight per cent in 2014 to 2.5 per cent for Bangladesh, from 16.7 per cent to 12.8 per cent for Pakistan, and from 9.6 per cent to 0.5 per cent for Sri Lanka. 

About World Bank:
Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Our mission evolved from the International Bank for Reconstruction and Development (IBRD) as facilitator of post-war reconstruction and development to the present-day mandate of worldwide poverty alleviation in close coordination with our affiliate, the International Development Association, and other members of the World Bank Group,
World Bank President – Jim Yong Kim
Membership – 188 countries (IBRD) 173 countries (IDA)
Managing Director of the International Monetary Fund – Christine Lagarde.

So lets do:
1. Expand IMF,IBA,IBRD and IDA ?
2. World bank consisit of how many countries ?
3. _________ remained the world’s largest recipient of remittances from abroad in 2015.
4. Where is world bank headquater situated ?

Source – Economictimes


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