The World Bank said remittances to India would fall this year by nine per cent to $76 billion due to the ongoing coronavirus pandemic and global economic recession. India followed by China, Mexico, the Philippines, and Egypt continue to be the top five countries in 2020 to receive foreign remittances, the World Bank said in its latest report. As the Covid-19 pandemic and economic crisis continues, the amount of money migrant workers send home is projected to decline 14 per cent by 2021 compared to the pre-Covid-19 levels in 2019, according to the latest estimates published in the World Bank's Migration and Development Brief. The impact of Covid-19 is pervasive when viewed through the lens of migration as it affects migrants and their families who rely on remittances, said Mamta Murthi, Vice President for Human Development and Chair of the Migration Steering Group of the World Bank. The foremost factors driving the decline in remittances include weak economic growth and employment levels in migrant-hosting countries, weak oil prices, and depreciation of the currencies of remittance-source countries against the US dollar, the bank said.