Project Tags

Remittances

Purpose bound remittances

Philippines, Bangladesh, Costa Rica

Worldwide USD500B is sent back home by overseas workers. Up to 15% of these remittances are used for home construction. Some of the top 10 remittance receiving countries include India, Mexico, Egypt, Nigeria and Bangladesh. Counties in which LafargeHolcim has a strong presence.

One of the big worries of the overseas workers is that money sent back home is used for alternative purposes.

When partnering with tech companies such as BeamAndGo and MyCashOnline, we connect overseas workers with the LafargeHolcim retailer network in their home countries ensuring a simple, safe and reliable delivery of cement and other construction materials.

Facts & Figures

  • The total flow of remittances is expected to reach USD597B by 2021 (World Bank)
  • Upto 15% of remittances is used for home construction

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