The great potential to leverage remittances for expanded and enhanced financing for development has been recognised and advocated for by diverse institutions including the World Bank, IMF, African Development Bank, diaspora organisations and independent academic entities. However, there are hardly any transformative remittance leveraging schemes in operation anywhere in the world. RemitAid™ offers a balanced mix of remittance leverage, innovative finance, aid optimisation, income generation, funding diversification and financial sustainability.

RemitAid™ was developed in 2003 by GK Partners (GKP) and the African Foundation for Development (AFFORD) after extensive studies and consultations. It was endorsed by African Ministers of Finance in December 2021 and adopted by the Executive Council of the African Union (AU) in February 2022, in line with its legacy project on diaspora finance. The RemitAid™ innovative finance mechanism was launched on 1 July 2025 as part of the United Nations Fourth International Conference on Financing for Development (FFD4). RemitAid™ was selected as one of the Seville Platform for Action (SPA) initiatives.