The Philippines, an archipelago of 7107 islands, is an important remittance market in Asia. Over 9.5 Million Overseas Filipino Workers send over US$ 24.3 billion (10.7% of the GDP) every year which makes Philippines the third largest recipient of remittance in Asia after India and China. In this vedio, Shivshankar V., our Resident Expert in the Philippines, talks about the remittance market and about the project in which MicroSave is supporting a consortium of financial institutions in the Philippines to set up a remittance company catering to unbanked migrant population in rural areas.

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