Developing Countries: Remittances

Summary

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether the UK is on target to reach UN Sustainable Development Goal 10C of reducing the transaction costs of migrant remittances to less than three per cent by 2030.

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Timeline

1. 18 June 2021

   Written question

   To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether the UK is on target to reach UN Sustainable Development Goal 10C of reducing the transaction costs of migrant remittances to less than three per cent by 2030.

   Source: Commons

2. 28 June 2021

   Answer

   Since 2017, the cost of sending remittances from the UK decreased by 1 percentage points, from 7.43% in 2017 to 6.44% in Q4 2020, according to World Bank Group data. Transfer costs vary considerably depending on the recipient country and payment instrumen...

   Source: Written answer

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• · Foreign, Commonwealth and Development Office · Answering body

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