Luxembourg Signs a Letter of Understanding With AFI to Help Bolster Financial Inclusion Across the African Continent

On 6 September 2019 the Ministry of Finance of the Grand Duchy of Luxembourg signed a letter of understanding (LOU) with the Alliance for Financial Inclusion (AFI) to launch a new multi-donor collaboration framework that will help bolster financial inclusion across the African continent.

Through the newly created Multi-Donor Financial Inclusion Policy Implementation Facility (“MD-PIF”), AFI and Luxembourg will help develop and implement policies that foster financial inclusion with a focus on gender equality, including digital financial innovation and FinTech, Financial Education and SME Finance. The framework will play an important part in the development of a vibrant, innovative, sustainable and competitive financial sector in Africa at both national and regional levels.