Microfinance to extend to remote areas
Microfinance to extend to remote areas
The microfinance sector's work in several remote areas around the country is expected to improve after the annual microfinance stakeholder forum was held in Vientiane on Tuesday.
The forum, organised by the Bank of the Lao PDR, helps senior officials better understand and manage the microfinance system.
The forum's goal is to develop and reduce poverty in remote areas in Laos.
The sector will attempt to spread access to microfinance to villagers in remote parts of the country, enabling them to take out sufficient loans.
The bank's Deputy Governor Mr Sonexay Sithphaxay, representatives from many provinces and senior officials from the bank attended the forum.
Mr Sonexay said he be lieved the senior officials in Vientiane would try to solve microfinance problems to develop village funds and assist in family welfare through leading people in trade.
“Microfinance in the villages will try to support Lao people through providing funds for production,” Mr Sinexay said.
The German Agency for International Development (GIZ) and United Nations Capital Development Fund (UNCDF) both support the development of microfinance.
vientiane times
