ADA celebrates 30th anniversary with key Luxembourgish partners

Three key representatives of the Luxembourgish inclusive finance ecosystem - ADA, the University Chair in Financial Law (Inclusive Finance) and the Inclusive Finance Network (InFiNe) - convened a roundtable on 16 October on ‘Building the future of inclusive finance by 2030’ on the occasion of their joint anniversary.

The roundtable participants discussed investment opportunities created by inclusive finance which contribute to Sustainable Development Goals and generate positive impact. To overcome the abovementioned investment hurdles, the participants called on Luxembourg's financial centre to engage in initiatives to reduce the real or perceived risk and to better assess the contribution of inclusive finance to the Goals.

Xavier Bettel, Minister for Development Cooperation and Humanitarian Affairs, explained: “Access to finance is not merely a privilege; it can have a fundamental impact, improving people’s lives by allowing them to invest in health, education and entrepreneurship. Financial inclusion also enhances resilience, helping individuals and communities withstand not only economic shocks but also other adversities. 

I am proud that Luxembourg’s Development Cooperation has been supporting the financial inclusion sector for over 30 years. Alongside our trusted partners present today, we remain committed to bridging the existing financing gap, unlocking the potential of millions of underserved people and paving the way for sustainable economic growth and social equity.”

Her Royal Highness Grand Duchess Maria Teresa of Luxembourg also attended the celebrations to mark the 30th anniversary of ADA and the 10th anniversary of the ADA Chair and InFiNe as all three organisations are under her High Patronage.

Inclusive finance will continue to be taught at the university

Over the past 30 years, Luxembourg has developed a vibrant inclusive finance sector with a broad range of local and international actors that leverage the expertise of the financial centre and of the university. To further strengthen the Luxembourgish inclusive finance hub, the government and ADA extended their sponsorship of a Chair in Financial Law (Inclusive Finance) at the University of Luxembourg, the so-called ADA Chair, at a ceremony following the roundtable discussion. 

Stéphanie Obertin, Minister for Research and Higher Education, commented: “Over the past ten years, the ADA Chair has developed into a research institution that is recognized world-wide for its research and policy advice. Our continued support will enable Professor Zetzsche to maintain his research team of PhD students, postdoctoral researchers and research assistants in financial inclusion in the years to come.” 

The Chair focuses on law and regulation of financial inclusion, sustainable development, financial technology and fundamental financial law research, including investment funds as an important element of the Luxembourgish economy.

To mark the event, Professor Dirk Zetzsche, the current holder of the Chair, drafted an article on the future of financial inclusion. The article discusses how to achieve and measure financial inclusion and its impact.

On the same occasion, Minister Bettel signed a new Memorandum of Understanding with  InFiNe for the upcoming three years until 2026. 

Copyright photos: © Simon Piraux