Event description:

This publication provides an overview of how the World Bank Group can leverage economic migration for development, based on a recent briefing to the World Bank’s Board of Directors. It provides an update on data, drivers, and impacts; discusses recent changes in international governance, including the adoption of the Global Compact on Migration; describes World Bank Group activities during FY2017–19; and suggests future areas of activity. Migration is set to increase, driven by income gaps, demographic imbalances, and climate change. The World Bank Group can complement global efforts by (i) supporting safe and regular (legal) labor mobility, (ii) supporting the migration-related indicators specified in the Sustainable Development Goals (reducing recruitment costs paid by migrant workers, reducing remittance costs, leveraging remittances, and mobilizing diaspora resources for development), (iii) generating knowledge for policy making, and (iv) supporting global partnerships.

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