A recent study by the European Investment Bank estimates the remittances, through official channels, sent by immigrants in Europe to their homelands in the southern Mediterranean region, at 7 billion Euros [$11 billion]. However, the amount is twice as large if remittances through unofficial channels are included. The eight beneficiary countries are Algeria, Egypt, Jordan, Lebanon, Morocco, Syria, Tunisia and Turkey. The study estimates the number of immigrants from these countries to Europe at 10 million.

The remittances are far larger than foreign direct investment in these countries, estimated at $6.4 billion. The remittances contribute 2-22% of GNP.

al-Sharq, Qatar, June 29, 2008