Luxembourg's development cooperation - Annual report 2012

Through this longstanding experience gained from its continuous commitment of nearly 20 years in the field, Luxembourg has become a reference in the microfinance sector. This year, the ministry has renewed several of its multi-year commitments with its various partners, such as the European Platform of Microfinance, the Consultative Group to Assist the Poor (CGAP) and the NGO ADA. The ministry recently signed an agreement with the Microinsurance Network to establish, in Luxembourg, the secretariat of an international European network for microinsurance and has also continued to provide support to LuxFLAG, a Luxembourg Fund Labelling Agency, which gives a Luxembourg label to microfinance investment funds. Furthermore it supported the NGO SOS Faim Luxembourg with the implementation of its pilot project FAIR which aims to develop the use of microfinance in the field of agriculture in Mali. The ministry has also continued its support to the Luxembourg Microfinance Development Fund, an investment fund domiciled in Luxembourg which supports targeted microfinance for small and medium-sized institutions active in developing countries. Finally, together with various partners, the ministry supported initiatives to develop new tools in the field of microfinance and inclusive finance, particularly in the context of renewable energies and in education. Finally, during the month of November 2012, the ministry contributed to the organisation of the European Microfinance Week and the 4th European Microfinance Award.