Luxembourg's Ministry of Finance and the European Investment Bank (EIB) have announced that the Grand Duchy is sponsoring a new international EIB training programme.
Luxembourg is stepping up its support for young talent from African, Caribbean and Pacific (ACP) countries and the Southern Neighbourhood regions (Middle East and North Africa) by sponsoring an EIB training programme. Under the programme, the EIB will train 60 young professionals at the bank over three years to transfer knowledge, promote talent and develop joint capabilities for the benefit of all partner countries.
The total contribution of the Luxembourg Ministry of Finance amounts to €1.3 million. The funds will be channelled through a trust fund managed by the EIB under the Partnerships Platform for Funds, the bank's framework for managing donor funds.
In addition to providing work experience for young professionals within a multilateral financial institution and one of the biggest financiers of climate and environmental finance in the world, the training programme is expected to create an important network for the EIB and for these young professionals in the long term.
The new agreement was signed by Luxembourg's Minister of Finance, Yuriko Backes, and EIB President Werner Hoyer. Both highlighted their joint efforts to contribute to EU policy objectives and support emerging and developing countries in these challenging times.
"Luxembourg is a key bilateral donor of EIB programmes and is proud to continue supporting new initiatives," said Minister Backes. "As a hub for green, responsible and sustainable finance, we want the European Union to spur investments in partner countries. This new talent programme will help Europe attract young people from all over the world to participate in our joint endeavour and share knowledge that will help them to contribute to economic and social progress in their home countries."
"This programme reflects EIB Global's ambition to build partnerships worldwide," said Werner Hoyer. "We are grateful to the Luxembourg government for their contribution in setting it up. Together, we will support and train 60 young professionals, giving them an opportunity to gain sound experience in an international environment and develop expertise in various fields. I am confident that the young trainees will join EIB Global's mission to create strong international ties and build long-lasting partnerships around the globe."
