The Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg's Ministry of Foreign and European Affairs has renewed its support for the Inclusive Finance Network Luxembourg ASBL (InFiNe.lu) for three years under a new agreement.
Capitalising on the leading position of the Grand Duchy in responsible financial and development sectors, InFiNe.lu was created in March 2014 to stimulate financial inclusion as a key to poverty reduction and the empowerment of people. The unique configuration of InFiNe.lu is to bring together the main actors of the Luxembourg public, private and civil society sectors in order to take advantage of the considerable knowledge available in Luxembourg to promote the deployment of inclusive finance around the world. InFiNe.lu promotes a society with universal access to quality and affordable financial services. Through the InFine.lu network, the aim is to promote the Luxembourg financial inclusion ecosystem as a center of excellence.
When signing this new agreement, Franz Fayot, Luxembourg's Minister for Development Cooperation and Humanitarian Affairs, emphasised: “The Luxembourg network InFiNe represents an essential player in the ecosystem of inclusive finance in Luxembourg, which enables ensure the coordination and consistency of the actions of the very diverse players in this sector based in Luxembourg; including investors, standard setters, civil society, businesses, academia and even other European and global networks. Thus, InFiNe makes it possible to best mobilise the expertise of Luxembourg's financial centre in favour of sustainable development, through responsible and inclusive finance creating economic opportunities in developing countries”.
Michel Maquil, President of InFiNe.lu, added: “In these difficult times, encouraging the use of inclusive finance as a tool for poverty reduction and empowerment of populations excluded from the economic and financial system is essential. Inclusive finance appears more than ever as the basis of sustainable finance. With its long experience in microfinance, Luxembourg has a pool of knowledge that must be implemented to accomplish this mission. The InFiNe.lu network thanks the Luxembourg government for its support”.
