This year, Banque de Luxembourg was partnering the European Microfinance Week for the first time. But our support for this major event is not the Bank’s first incursion into this arena.

Banque de Luxembourg devotes the bulk of its charitable budgets to promoting philanthropy, social entrepreneurship and impact investing in the Grand Duchy of Luxembourg. Philanthropy is the priority, through ‘advocacy’. The Cahiers de Réflexion, submitted to the Luxembourg government in 2008 and 2015, were designed to make the regulatory and tax framework more attractive for individuals and companies wishing to devote part of their wealth to general interest causes. It was also on the Bank’s initiative that the Fondation de Luxembourg came into being. The Bank also organises national events to raise awareness of philanthropy among the general public. In social entrepreneurship, the Bank is a partner in the social enterprise creation programme ‘Impuls’ (formerly 123go social). Its specific role in this process is to finance training to benefit future social entrepreneurs.

 

Alongside ADA and European Impact Investing Luxembourg (EIIL)

Banque de Luxembourg is one of the longest-standing partners of ADA (Appui au Développement Autonome), a major player in the promotion of microfinance in Luxembourg. Since their launch 10 years ago, the Midis de la Microfinance, which are key networking events for everyone involved in this sector in Luxembourg, have been held in the Bank’s auditorium.

In 2010, with the aim of putting Luxembourg on the international map for impact investing, the Bank invited the European Venture Philanthropy Association to hold its annual conference in Luxembourg. As part of this event, along with other organisations on the social impact funds market, the Bank launched European Impact Investing Luxembourg association (EIIL) as an information-exchange platform for all professionals on this market in Luxembourg. EIIL is particularly active in crowdfunding, impact assessment, foundations and the constitution of a database. The association played a determining role in drafting the law on Societal Impact Companies (SIS) which came into force in 2016, thereby giving a specific legal status to social economy and charitable enterprises.

In 2010, with the aim of putting Luxembourg on the international map for impact investing, the Bank invited the European Venture Philanthropy Association to hold its annual conference in Luxembourg. As part of this event, along with other organisations on the social impact funds market, the Bank launched the European Impact Investing Luxembourg association (EIIL) as an information-exchange platform for all professionals on this market in Luxembourg. EIIL is particularly active in crowdfunding, impact assessment, foundations and the constitution of a database. The association played a determining role in drafting the law on Societal Impact Companies (SIS) which came into force in 2016, thereby giving a specific legal status to social economy and charitable enterprises.