Ordinary General Meeting, 2 July 2015
Ordinary General Meeting of Shareholders of July 2nd, 2015
On the occasion of the General Meeting of the Luxembourg Microfinance and Development Fund, the Fund has presented its results for the business year 2014/2015:
The social fund has increased its investments activities by allocating 11 additional transactions, of which 5 have been allocated to new microfinance institutions (MFI). This represents an increase of the investment portfolio of 39% reaching € 17.9 million. The fund achieved an annual return of 3.0% for class C and 4.1% for class B.
LMDF currently supports 32 MFIs through 17 countries and reaches 29,965 micro-entrepreneurs of which 76% are women. In addition, the past year allowed the fund to financially support 139 students in their university studies (against 41 end of March 2014) through a partnership with HEFF.
The general assembly was the opportunity to mark the end of the fund’s start-up phase and to enter the growth phase that will allow LMDF to meet the demands of MFIs and increase its social impact in the world.