Working together for financial inclusion: AFI, the Luxembourg Development Cooperation and Palestine Monetary Authority

The Alliance for Financial Inclusion and the Grand Duchy of Luxembourg have launched a two-year agreement to boost financial inclusion in Palestine. The Directorate for Development Cooperation and Humanitarian Affairs of the Luxembourg Ministry of Foreign and European Affairs will be providing financial support for an AFI project to help the Palestine Monetary Authority develop and implement innovative and sustainable financial inclusion policies and regulations, with a focus on digital financial services and gender inclusive finance.

“This partnership reaffirms our collective dedication to advancing financial inclusion and creating opportunities for all, especially in conflict-affected regions like Palestine,” said Dr Alfred Hannig, AFI Executive Director. “With this partnership, we have an opportunity to make a lasting impact on the lives of individuals and communities, in Palestine and beyond.”

“Gender should never be a barrier to accessing financial services, or to participating in the economy,” said Paul Weber, Head of the Inclusive and Innovative Finance Unit at the Luxembourg Directorate for Development Cooperation and Humanitarian Affairs. “Inclusivity implies leaving no-one behind, and in the realm of financial inclusion, regulation plays a pivotal role.”

“Palestinian women are enthusiastic, ambitious, and eager for change”, emphasized Eyad Zeitawi, Executive Director, Financial Stability Group, of the Palestine Monetary Authority. “Empowering them is a critical path to achieving financial inclusion,”

The agreement builds on the strong, existing partnership between AFI and Luxembourg, which includes AFI’s Europe Representative Office being co-hosted by the Ministry of Foreign and European Affairs and the Ministry of Finance.