On Monday evening, the DP/CSV coalition faced down objections from the opposition, pledging around €250,000 to a global plan to invest €1.5m.

The Luxembourg Chamber of Commerce is the majority shareholder, and they had already committed €1m to the project. Central to this plan will be investment in equipment to enable the venue to stage hybrid events which will combine in-person and remote participation.

Luxexpo reported income of €8.5m in 2019, a figure which was cut by a third last year, with visitor numbers falling from 480,000 to 139,000. Only 52 of the scheduled 115 events could be held. A restructuring plan has been created, but this will see only one of the company’s 38 employees losing their job.

The plan is not without controversy. “There is a feeling that money is being pumped into something that does not work optimally,” said François Benoy of the Greens. There are also ongoing doubts around whether Luxexpo will remain within the capital. A decision has yet to be taken on whether to remain at the current site, or to move to a cheaper location. The governing majority though said they remain convinced by the business plan presented by management, and that there were signs of rising attendance numbers before lockdown.

The capital is a 17% shareholder in the enterprise. Other shareholders alongside the Chamber of Commerce are the Banque et Caisse d’Épargne de l’État, Banque Internationale à Luxembourg, Quintet Private Bank, ING Luxembourg, BGL BNP Paribas, ArcelorMittal, the Chambres des Salariés and the Chambre des Métiers.