Technical assistance to boost credit management
Technical assistance to boost credit management
The Policy Research Institute (PRI) of Japan's Ministry of Finance is continuing to provide technical assistance to the Lao Development Bank (LDB) for human resource skill improvement.
The memorandum of Intent (MOI) to continue the work was signed in Vientiane yesterday by the PRI President, Mr Daikichi Momma and LDB General Managing Director, Mr Boualiane Phommavongsa.
The ceremony was witnessed by the Ministry of Finance's State Owned Enterprise Finance Management Department Director General Ms Khamphay Vithasay and officials from both the Laos and Japan sides.
“Human resource development is a major part of improving a business or organisation to boost and strengthen its capacity,” said Mr Momma.
This technical assistance project is focused on capacity building of the bank's administrative staff to be more effective in credit decision making, which in turn helps small and medium enterprises (SMEs) have better access to finance to strengthen their businesses, he said.
The first phase of the assistance has helped the bank's employees in achieving skills improvements and Mr Momma believed that this second phase would continue to develop it further.
The first phase of the technical assistance project was supported with funds from the PRI with experience provided from JFC Micro's expert team and was successfully conducted from 2011-2013, said Mr Boualiane.
The goal of the project is to develop human resources of the bank, particularly credit employees in supporting SMEs in Laos, he explained.
It also aims to teach some experiences about SMEs credit management and progress, he said.
For the first two years of the first phase, the project organised different topics on credit training for the bank's employees in branches and service units around the country.
According to the project summary of the first phase, both sides benefited and have therefore agreed to progress this second phase of the project for three years from now until 2017.
Mr Boualiane was sure that the experience of JFC Micro expert team through the support of PRI, as well as relevant sectors of the Lao side, would see the project being successful in developing the bank employees' skills.
The experience obtained by staff will be used in their actions for developing the credit sector of the bank by helping it improve its quality and quantity of services, Mr Boualiane commented.
The assistance is one of cooperation efforts for boosting good relations between Laos and Japan as well as contributing to developing the business sector in Laos, Ms Khamphay added.
vientiane times
