Inclusive finance, private sector, Digital4Development
Inclusive and innovative finance
Luxembourg’s financial centre has considerable expertise, which may also be made available to international development. For more than 25 years, Luxembourg’s Development Cooperation has been actively supporting the development of microfinance and inclusive finance to reduce global poverty, to promote economic development, inclusive growth and the socio-economic inclusion of women and young people. In this way, Luxembourg has become a key centre of excellence for inclusive and innovative finance.
ATTF/House of Training
In order to make use of the expertise and potential of Luxembourg’s financial market to support the development cooperation sector, Luxembourg’s Development Cooperation supports the financial technology transfer agency (ATTF/House of Training) to implement training programmes in Rwanda, Cabo Verde, El Salvador, Kosovo, Vietnam, Mongolia and West Africa. In 2020, the work of the financial technology transfer agency (ATTF) was rolled out to Laos and Ethiopia. In addition to transferring knowledge in the banking sector, this exchange is helping to put the know-how of the Luxembourg financial market to good use, and also to establish lasting international links between professionals in the sector.
DIGITAL FOR DEVELOPMENT (D4D)
The Digital4Development (D4D) concept seeks to promote the integration and capitalisation of digital tools by development assistance and humanitarian action operators, both in regard, for example, to basic social services, major innovative development projects or as a tool for the formalisation and monitoring of development policies. Africa is at the heart of these developments and it is widely recognised that information and communication technologies (ICTs) will play a vital role for its populations as they seek to become emerging States.