Delegates from the Bank of the Lao (BOL)—the central bank of the Lao People’s Democratic Republic (PDR)—recently visited the Land Bank of the Philippines (LANDBANK) to learn more about the state-run Bank’s operational model for development financing.
BOL International Cooperation Department Director General Phengsy Phengmaung praised LANDBANK’s extensive experience and success in providing accessible finance to micro, small, and medium enterprises (MSMEs), with the study visit aimed to enhance BOL’s own Lao Access to Finance Fund (LAFF) Project.
LANDBANK shared to the delegates its intensified efforts in supporting key local economic sectors, particularly MSMEs, during the study visit at the LANDBANK Plaza on 25 October 2022.
“We hope that our experiences and best practices will serve as valuable inputs to the continual improvement of your lending operations under the Lao Access to Finance Fund Project,” said LANDBANK President and CEO Cecilia C. Borromeo.
BOL’s LAFF Project aims to provide MSMEs in Laos expanded access to sustainable and needs-based financial services.
Mr. Phanthaboun Sayaphet, Deputy Director General of the Finance Institution Supervision Department and LAFF Project Steering Committee member, led the delegation from BOL, which included other members of the LAFF Project team.