The Central Bank of Luxembourg has joined Phase III of the European System of Central Banks’ EU-funded capacity-building programme for central banks and banking supervisors in the Western Balkans, aimed at supporting their future integration into the ESCB. Phase III has been launched jointly by 20 ESCB national central banks and the European Central Bank, with EUR 3 million allocated under the European Union’s Instrument for Pre-Accession Assistance (IPAIII). The three-year programme focuses on strengthening beneficiaries’ institutional capacity, including analytical and policy tools and the adoption of international and European standards. It covers the central banks of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia, as well as the banking supervision agencies of the Federation of Bosnia and Herzegovina and Republika Srpska. Over the next 36 months, the programme will deliver regional training on core central banking and financial supervision functions, with an emphasis on anti-money laundering and counter-terrorist financing developments, cyber risks, data science and management, digital transformation, innovation and artificial intelligence, alongside high-level meetings on topics including central bank independence and payment systems. Within Phase III, Central Bank of Luxembourg experts will contribute to nine of 21 training seminars, covering AML/CFT, foreign exchange reserve management, statistics, cybersecurity, central bank governance, payment systems, internal audit, communication and accounting, and will participate in two bilateral measures with the Bank of Albania (legal services) and the Central Bank of Kosovo (asset management). Implementation is coordinated by Deutsche Bundesbank, with contributions from participating ESCB central banks and the ECB.
Central Bank of Luxembourg 2026-02-26
Central Bank of Luxembourg joins Phase III of EU-funded ESCB programme to strengthen Western Balkan central banks
The Central Bank of Luxembourg has joined Phase III of the European System of Central Banks' capacity-building programme for Western Balkans central banks, funded by the EU's Instrument for Pre-Accession Assistance. Coordinated by Deutsche Bundesbank, the three-year initiative focuses on institutional capacity strengthening, covering AML/CFT, cybersecurity, and digital transformation. Luxembourg's experts will contribute to nine training seminars and participate in bilateral measures with the Bank of Albania and the Central Bank of Kosovo.