African Foundation for Development
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Within this area of our work, AFFORD developed two main projects. RemitAid™ was developed by Gibril Faal (AFFORD Chairman) with a vision ‘To transform diaspora and migrant remittances into a sustainable form of international development finance’. The scheme is relevant to all the Least Developed Countries (LDCs) in Africa, Asia and Latin America. The mission is ‘To mitigate the structural imperfections and negative effects of diaspora and migrant remittances and improve the economic impacts of remittances at household, community, national and regional levels’.
The RemitPlus™ project aims to link remittances to financial literacy, small scale business investment and general access to finance. It is funded by the International Foundation for Agricultural Development (IFAD) as a pilot project operated in the UK and Sierra Leone. In June 2009 substantive preparatory work on the project started , including: engagement with Oxfam-Novib and INAFI (who are also running a comparable EC-funded remittances project); development of RemitPlus™ brand; and updating of partnership relationship between AFFORD, Fadugu (a Money Transfer Operator), Finance Salone (a Micro Finance Institution).
Please click to read or download the RemitAid Introduction - Updated May 2012.pdf document.