On 8 and 9 July 2015, Luxembourg Prime Minister, Minister of State, Xavier Bettel and Minister of Cooperation and Humanitarian Action, Romain Schneider, attended the Africa Day organized by the European Investment Bank (EIB).
At the conference, held under the Luxembourg Presidency of the Council of the European Union and the European Year for Development, Xavier Bettel delivered an introductory speech before the opening dinner on July 8 and Romain Schneider spoke at the opening session on 9 July.
This event brought together around 300 European and African professionals in public and private sectors in order to discuss opportunities for partnership between Europe and Africa. Particular emphasis was placed on the role of the private sector in the areas of renewable energy, rural development, infrastructure and the relationship with the banking sector.
The opening dinner on July 8 presented an opportunity for Prime Minister Xavier Bettel to outline the priorities of the Luxembourg Presidency of the Council of the European Union. Addressing the theme of Africa Day, he also stressed the importance of investing in the human capacity to provide countries and their populations the means to develop their own economic sectors, giving the example of hospitality training and the tourism industry in Cape Verde.
On the occasion of the opening ceremony on July 9, Minister Romain Schneider delivered a speech in the presence of EIB President Werner Hoyer, and the European Commissioner for Agriculture and Development, Phil Hogan. The Minister particularly stressed the importance of local economic development in Africa to achieve the new goals of sustainable development, which will be defined before the end of this year, stating:
"The sustainable growth of Africa will only be possible with the development of the local economy in Africa. Allow me to quote the figure of the African Bank Development, which registered an average growth of 5% for African countries in 2014 (ADB Annual Report 2014). This growth is primarily driven by, and only sustainable through, the private sector. It is important therefore to sustain this growth and expand it to the poorest populations, to lift them out of poverty and allow them to lead a life of dignity."
The Minister went on to praise the action plans of certain African countries such as Senegal, emphasising the development potential of the Luxembourg-Senegal Indicative Cooperation Programme.
Under the new Indicative Cooperation Programme in Mali (2015-2019), Luxembourg will support agricultural sectors in contributing to economic development as well as the country's food security. In Burkina Faso and Niger, the Cooperation is one of the leaders in the promotion of vocational training, which also benefits the development of the local private sector. Luxembourg also supports the Cape Verde's transition to 100% renewable energy by 2050.
Like the EIB and the African Development Bank, the Minister recalled that Luxembourg also urges the private sector to mobilise funding through public private partnerships, such as the partnership with the Luxembourg company SES satellite in the ICT sector in Burkina Faso. The Minister concluded his speech by mentioning the expertise of the Luxembourg financial centre in the field of inclusive finance and stressed that the Luxembourg Government has maintained this sector since 1993.
"Luxembourg also supports the FEMIP1 facility of Mediterranean partners of the EIB through investments in large-scale infrastructure, SME credit, guarantees for relatively riskier projects or technical advice," commented Minister Schneider. "The strengthening of economic relations between Europe and Mediterranean countries in Africa is essential for inclusive development in these regions and it certainly contributes to the consolidation of peace and security. It is in this context that last April, HRH Hereditary Grand Duke chaired an economic mission to Morocco and Tunisia."
Photos by EIB (Top: Luxembourg Prime Minister, Minister of State, Xavier Bettel. Bottom: Minister of Cooperation and Humanitarian Action, Romain Schneider)
