International organizations IFAD and IOM acknowledge the significant contribution of migrant workers' remittances to Nepal's development and economic progress.
The International Fund for Agricultural Development (IFAD) and the International Organization for Migration (IOM) have jointly recognized the important impact that remittances from Nepalese migrant workers have on the country’s economic growth. These funds sent home by workers abroad serve as a vital source of income for many families and contribute to poverty reduction and development projects in Nepal. Official statements from IFAD and IOM emphasize that remittances bolster household consumption, improve education and health outcomes, and support local businesses. This recognition underscores the critical role of overseas workers in sustaining Nepal’s economy, highlighting ongoing cooperation with governmental and non-governmental partners to maximize the benefits of labor migration.
Sources referenced:
- https://news.google.com/rss/articles/CBMiiAFBVV95cUxNZ1U2bWlkUDQ2QnZSYWI2WVpXZUhWd19sUEllUnBoeF9XUDBXVU5tVndSYjQwVTluUHh0NUhpODlJVXNXRTI3dnFWQXhvNnEyWlcycWRDU0tfYUQ4WGdxZ05yN2VLVHgwaURfVWRQX1FvNkNWT2l5WXJfcTl2NGtSMXYyYklzOEVy?oc=5