The Inter-American Development Bank will hold a news conference at 2:45 p.m. on Wednesday, October 18 at its Washington, D.C. headquarters to present new state-by-state estimates of the volumes of money sent by immigrants in the United States to their homelands in Latin America.

Remittances sent by migrant workers have become a key source of income for many developing nations around the world. According to the IDB’s Multilateral Investment Fund (MIF), this year Latin America and the Caribbean stands to receive more than $60 billion from its expatriates. Most of the money is sent from the United States.

The new estimates, which include 47 states and the District of Columbia, are based on a survey and public opinion research conducted among Latin American immigrants by the polling firm Bendixen & Associates. The questions covered issues such as household income, employment, banking practices and investments in migrants’ homelands.

IDB President Luis Alberto Moreno, MIF Donald F. Terry and pollster Sergio Bendixen will speak at the news conference, which will be held in the IDB’s Enrique V. Iglesias Conference Center (1330 New York Ave, NW, Washington, D.C.).

Reporters who wish to attend the news conference should register by filling an electronic form available here.

The IDB is the leading source of long-term lending for economic and social development projects in Latin America and the Caribbean. Its Multilateral Investment Fund promotes private sector development, focusing on microenterprises and small businesses.