Lux-Development S.A., better known as LuxDev, is the aid and development agency of the government of Luxembourg. It was created in 1978 as an agency to support small and medium enterprises in Luxembourg and only became an agency for development cooperation in 1992. Now, LuxDev is a sociéte anonyme (S.A.) whereby their stockholders are the state of Luxembourg (98%) and the state-owned bank Societe Nationale de Credit et d'Investissement (2%). LuxDev is headquartered next to the Place des Martyrs in Luxembourg City, but it has regional offices in Hanoi (Vietnam), Pristina (Kosovo), Dakar (Senegal), Praia (Cape Verde), Ouagadougou (Burkina Faso), Niamey (Niger) and Managua (Nicaragua). LuxDev handles almost all of the resources allocated by the government of Luxembourg to bilateral official development assistance. It can however also execute programs financed by other bilateral donors and the European Commission.