International remittances are a vital resource for developing countries that can help aid recovery from climate shocks . Estimated at USD 48 billion in 2019 their importance is expected to grow further due to foreign direct investment declines during the COVID-19 pandemic . Furthermore, domestic remittances from rural-urban migration can help rural households respond to climate risks . However, adequate finance and banking infrastructure are essential for remittances and, on average, cash transfer costs for sub-Saharan African countries remain the highest globally . Mobile money technologies
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report