Microlux shareholders in solidarity with micro-entrepreneurs

The shareholders of microlux, in particular ADA, have decided to strengthen its financial capacities up to €233,000.

Since the beginning of the Covid-19 crisis, microlux, faithful to its mission of social and economic inclusion, has remained in solidarity with micro-entrepreneurs.  Various support measures have been put in place such as moratoria on microcredits, individual follow-up and an exceptional reduction in interest rates.  

The shareholders of microlux, in particular the bank BGL BNP Paribas, the insurance group Foyer and the NGO ADA (Appui au Développement Autonome), believing that the usefulness of microlux will only increase with the crisis, have decided to strengthen its financial capacities up to €233,000. In addition, the Ministry of Economy's Middle Classes Department and the Chamber of Commerce have also joined the shareholders' efforts by increasing their annual subsidy. These major players are thus renewing their support for small entrepreneurs in Luxembourg who have been bravely fighting for their survival for several months.

Beyond the financial aspect, this support confirms the confidence that these major players have in microlux. "It is reassuring to know that our main financial partners continue to support us, especially in these difficult times. They encourage us to intensify our action in favour of people who do not have access to traditional bank credit but who, through their determination and entrepreneurial skills, contribute with enthusiasm and perseverance to the dynamism of the Luxembourg economy." says Samuel Paulus, Senior Manager.

The role that an institution such as microlux plays in Luxembourg has already been amply demonstrated in recent years. In these special times, microlux is convinced that even more people will need its services and will do its utmost to contribute to the economic recovery by supporting future project leaders who have been left unemployed by the crisis. 

Microlux also calls for support for its entrepreneurs and local traders in general.

microlux
The first microfinance institution in Luxembourg, microlux was created in 2016 on the initiative of its 4 founding members, BGL BNP Paribas, ADA (Appui au Développement Autonome), ADIE (Association pour le droit à l'initiative économique) and EIF (European Investment Fund). The insurance group Foyer S.A. entered the capital of microlux in 2018. It is a non-profit social enterprise whose mission is the social and economic inclusion of people who do not have access to traditional bank credit. Its main activity consists in supporting and financing, in the form of microcredits, project leaders who wish to create or develop a business. The objective is to improve their professional development and their living conditions.

Since its creation, microlux has granted nearly 130 microcredits enabling the creation of 85 businesses and 130 jobs. The micro-entrepreneurs supported by microlux are active in various sectors such as catering, accommodation, transport of people and small packages, food, cleaning, care and beauty products, etc.

Contact
Anh Quyen NGO-LI, Communication manager
Tél.: +352 45 68 68 76 / +352 671 022 450
aq.ngoli@microlux.lu – Web : www.microlux.lu