IMF chief Christine Lagarde with Luxembourg finance minister Pierre Gramegna in Washington
Photo: Luxembourg finance ministry
Luxembourg’s finance minister has pledged to continue its financial support of the IMF after signing a bilateral loan agreement
Luxembourg’s finance minister has pledged to continue its financial support of the IMF after signing a bilateral loan agreement at the weekend.
Pierre Gramegna signed the agreement along with IMF chief Christine Lagarde during a two-day trip to Washington in the US for the spring sessions of the IMF and World Bank.
The agreement, signed on 22 April, underlines Luxembourg’s “solid attachment to the IMF”.
Lagarde alluded to Luxembourg’s contributions to the technical assistance programme in finance while the two discussed the challenges of financial digitalisation and the consequences of Brexit on a European and international level.
During his visit, Gramegna also participated in the launch of the Green Cornerstone Bond Fund, from the International Finance Corporation, which is domiciled in Luxembourg.
The fund is aimed at fighting global warming in Africa, latin America, eastern Europe and central Asia.
In his speech, Gramegna underlined the role of Europe in leading the fight against climate change and putting into effect the goals of the COP21 Paris agreement.
“As strategic partner of Green Cornerstone Bond Fund, Luxembourg demonstrates its strength as a financial centre and accepts its responsibilities in the fight against climate change,” he said.