GLOBAL GOALS
LandBank showcases MSME dev’t financing program
Delegates from the central bank of the Lao People’s Democratic Republic recently visited LandBank to learn more about LBP’s operational model for development financing.
The Bank of the Lao, the central bank of the Lao People's Democratic Republic, recently lauded the Land Bank of the Philippines for providing accessible finance to micro, small and medium enterprises.
The country's state-run bank made the announcement after delegates from the BOL recently visited LandBank to learn more about LBP's operational model for development financing.
BOL International Cooperation Department Director General Phengsy Phengmaung said they want to enhance BOL's LAFF (Lao Access to Finance Fund) Project, which aims to provide MSMEs in Laos expanded access to sustainable and needs-based financial services.
In response, LandBank shared with the delegates its intensified efforts to support key local economic sectors, particularly MSMEs.
"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 Borromeo.
Phanthaboun Sayaphet, Deputy Director General of the Finance Institution Supervision Department and LAFF Project Steering Committee member, co-led the delegation from BOL, which included other LAFF Project team members.