Luxembourg 26th nonregional member country to join AfDB
Luxembourg last week became the African Development Bank’s (AfDB’s) twenty-sixth nonregional member country, further strengthening its commitment to contributing to Africa’s development through the use of the AfDB’s multilateral instruments.
Over the next eight years, Luxembourg would provide €25-million to the AfDB’s development efforts on the African continent.
“Luxembourg’s membership is [further] testimony [to the attractiveness of the] AfDB group. This [highlights] the crucial role our institution plays in support[ing] African economies and the wellbeing of the [continent’s] populations,” AfDB president Donald Kaberuka said.
Luxembourg Finance Minister Pierre Gramegna said the country’s AfDB membership was a continuation of its long-standing interest in and support for Africa.
“African Development Fund countries, such as Mali, Niger, Burkina Faso, Senegal and Cape Verde, are countries of special focus for Luxembourg’s cooperation on the continent. Sub-Saharan Africa is the primary area of concentration of our cooperation. Therefore, our membership will reinforce the country’s action in favour of its African partners,” he stated.
Meanwhile, Kaberuka said, through Luxembourg joining, the AfDB was also reminded that it had to do more to improve the living conditions of Africans by focusing on inclusive growth, as set out in the bank’s ten-year strategy.
Gramegna added that the AfDB’s policies and strategies and those of Luxembourg’s development assistance contributed to the same sustainable development objective of reducing poverty on the African continent.
Gramegna also identified sectors, such as the renewable energy and the financial sectors, on which his government intended to focus.
He pointed out that the Luxembourg Ministry of Cooperation and Humanitarian Action and the Ministry of Finance would reinforce collaboration so as to improve the impact of Luxembourg’s intervention in the sector of renewable energy.
Meanwhile, Kaberuka expressed hope for Africa’s future given the dynamism that could be observed in African countries.
“This dynamism is not owing to [the] financial capital countries bring to the table, it is owing to African human capital [and] the actions of African men and women. They constitute the true capital,” he stressed.
Kaberuka said that growth was good for social justice and for countries’ development dynamics; however, he stated that African countries had to go beyond growth to ensure that the current trend translated into a true improvement in the living conditions of a large number of people.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation