Event: 7th ADB-ADBI-OECD-ILO Roundtable on Labor Migration: Increasing the Positive Impact of Migration Through Finance and Technology Promoting Low-cost Formal Remittance Channels and Financial Literacy 18 January 2017 Author / Speaker Pia Bernadette Roman Tayag View File In the Philippines, remittances have become very important, given the increasing number of overseas Filipino workers (OFW) and the amount they regularly send back to the country. In 2015, official data show that they sent $25.6 million cash remittances, which is about 10% of the country's gross domestic product. This presentation shows how the Philippines is tapping remittances to improve financial literacy, promote low cost remittance channels, and push financial inclusion. Disclaimer The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Download Topics Finance ICT Social Development and Protection