Key Highlights of the Reports:
- About 2.3 per cent of the world’s population—184 million people, including 37 million refugees—live outside their country of nationality.
- It found that low-skilled Indians who migrated to the United States tended to see a significant gain in their income of around 500%.
- The gains for highly-skilled workers such as engineers or doctors are much higher, however, low-skilled workers are also finding themselves having a multi-fold jump in their income.
- It categorised the migrants into four types – Refugees with skills in demand, economic migrants with skills that match with demand, distressed migrants and
- India-US, India-Bangladesh and India- Gulf Cooperation Council have been considered among the top migrant corridors.
Key Facts about World Bank
- It is an international financial institution that provides loans and grantsto the governments of low and middle-income/developing countries to pursue capital projects.
- It was established along with the IMF at the 1944 Bretton Woods Conference.
- The WB Group Includes
- International Bank for Reconstruction and Development (IBRD): It provides loans, credits and grants.
- International Development Association (IDA): It provides low or no-interest loans to low-income countries.
- International Finance Corporation (IFC): It provides investment, advice and asset management to private companies and governments.
- Multilateral Guarantee Agency (MIGA): It ensures lenders and investors against political risks such as war.
- International Centre for the Settlement of Investment Disputes (ICSID): It settles investment disputes between investors and countries.
- India is not a member of ICSID.
