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The Guardian - UK
The Guardian - UK
World
Richard Partington Economics correspondent

War leads to surge in money transfers to Ukraine

Ukraine World Bank Russia United States
A man sits on a chair next to Western Union currency exchange office in Prague, Czech Republic
Even before Russia invaded, Ukraine was the biggest recipient of remittances in Europe and Central Asia. Photograph: David W Černý/Reuters

The war in Ukraine is fuelling a surge in money transfers to the country as migrant workers and refugees fleeing the conflict scramble to send financial support back to their families.

The World Bank said remittances to Ukraine from other countries were expected to rise by more than 20% this year, driven by Ukrainians abroad transferring funds back to friends and family facing the severe economic impact of the Russian invasion.

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