Ordinary General Meeting, 3 July 2014
Ordinary General Meeting of Shareholders of July 3, 2014
On the occasion of the General Meeting of the Luxembourg Microfinance and Development Fund, the Fund has presented the results of the business year 2013/2014:
The social fund has increased its investments in promising microfinance institutions by 23% to € 12.5 million. The financial performance for the year was 0.4% for private investors and 1.1% for institutional investors and presents an attractive social investment opportunity in a low interest rate context.
The social Fund finances 31 007 micro-entrepreneurs, of which 72% are women in 17 of the poorest countries. 25% of all the investments are attributed to agricultural activities. The Fund indirectly finances 41 students issued from micro-entrepreneurs families against 14 last year.
Board of directors
The Fund welcomes an additional member, Raoul Stefanetti (BIL) and is now composed of 11 members.