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Conférence EIIL Janvier 2015 030 Conférence EIIL Janvier 2015 030

February 3, 2015

Social Finance in Luxembourg: “It is time to take action”

Social Finance in Luxembourg: “It is time to take action”


Luxembourg, 29 January 2015 - The network European Impact Investing Luxembourg (EIIL) held its annual conference this Thursday evening on the topic "The role of social finance for the Luxembourg of tomorrow." A hundred people had gathered in the Auditorium of the Banque de Luxembourg to attend this conference, organized in collaboration with the Banque de Luxembourg and InFiNe.lu.

“It is time to take action”. This sentence pronounced by Nicolas Schmit, Minister of Labour, Employment and Social economy, demonstrated its commitment to give to the social economy sector all the means to grow in Luxembourg. Various initiatives will be on the 2015 agenda of his Ministry to promote what he sees as “a key element for the diversification and economic development of the country”.

More specifically, the Minister spoke of the Société d’Impact Sociétal whose bill is expected in April 2015. He also highlighted the need for an ecosystem to encourage talents to engage in social entrepreneurship. To this end, an incubator dedicated to the sector will be created soon. Finally, Mr Schmit has addressed the need for innovative financing to take off the social economy sector. To carry this message at a European level and in the context of the future Luxembourg Presidency of the Council of the European Union, a conference on financial innovations for social economy will be held in Luxembourg on 3 and 4 December.

EIIL members also presented the work of three of their working groups. Nicolas Hennebert (Deloitte) discussed the opportunity represented by crowdfunding for the diversification of the impact investing sector and the development of the Luxembourg financial centre. Anouk Agnes (ALFI) and Kaspar Wansleben (LMDF) have introduced the Luxembourg Impact Investing Platform, a unique structure in the world that would allow small investment funds to establish themselves in Luxembourg under a sheltering platform. Finally, Marc Elvinger (Elvinger, Hoss & Prussen) and Uli Grabenwarter (EIF) addressed the framework of eligibility criteria necessary for the establishment of a Société d’Impact Sociétal.

More information about the conference will soon be available on the website.

Photo credit : InFiNe.lu

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