LMDF held its General Assembly and renewed the mandates of seven directors.
The shareholders of the Luxembourg Microfinance and Development Fund SICAV met on July 5 at the House of Microfinance, in Luxembourg city. The Chairman of the Board Directors, Axel de Ville, emphasized the unique position of the fund in the spectrum of microfinance investment vehicles supporting small institutions and strong engagement in Africa.
The managing director, Kaspar Wansleben, presented the financial and social results of the year 2011/12.
For the occasion of the end of the mandate, Wallerand Patrick, the President and the shareholders thanked him for his work. The shareholders reappointed Axel de Ville, Nima Ahmadzadeh, Marc Bichler, Mark Cunningham, Marc Elvinger, Paolo Vinciarelli and Kaspar Wansleben for one year.
The General Assembly ended with the intervention of Sebastián Maldonado of the microfinance institution Maquita Cushunchic (Ecuador). Maquita was financed by LMDF since 2010 and Sebastián has told the shareholders the relationship between an MFI and LMDF.