History of ATTF

The transfer of know-how as a means for co-operation

The transfer of know-how is in increasing demand in emerging countries. Sharing "know-how" helps these countries to make key investments in human capital and therefore to prepare for their futures. Vocational training in the services industry is one of the most effective methods of transferring this know-how. As a matter of fact, the development of the services industry - especially the banking and finance industry - is an important issue for emerging countries.

The Luxembourg Institute for Training in Banking (IFBL, Institut de Formation Bancaire Luxembourg) was set up at the beginning of the 1990's by the Luxembourg Bankers' Association (ABBL, Association des banques et banquiers Luxembourg) to serve the training needs of the Luxembourg-based banks. Shortly afterwards, IFBL was asked by the Luxembourg Government to implement the first actions in the field of training for Central and Eastern European countries. The idea was to help the transition of these countries through the sharing of knowledge.

A Need for a Specific Agency

Through the Luxembourg Government's ever-increasing co-operation with Central and Eastern European countries, including Russia and Ukraine, the IFBL became more and more involved in providing international programs.

That is why it was officially decided to create a new entity, whose mission would consist of offering training programs and consultancy services in the area of banking and finance to emerging countries. "Emerging countries" comprises both: countries with an economy in transition (countries from the former Soviet bloc) and, countries with an economy in development (in various regions of the world). On the 6th of October 1999, the Financial Technology Transfer Agency - ATTF - was set up to take over the IFBL's international programs. Thus was the agency created, and its mission of goodwill more thoroughly defined. At the same time, the number of the ATTF's target countries has seriously increased, today reaching 33 countries all over the world.