BOL hosts conference on microfinance in rural areas
BOL hosts conference on microfinance in rural areas
The Bank of the Lao PDR recently hosted a national conference on microfinance in rural areas, bringing together stakeholders and development partners to exchange opinions and lessons learned.
The meeting was co-chaired by Deputy Governor of the Bank of the Lao PDR Mr Sonexay Sithphaxay , Head of the Development Cooperation of the German Embassy, Mr Christian Olk, and First Secretary of the Australian Embassy, Mr Andreas Zurbrugg.
The German Development Cooperation project ‘Access to Finance for the Poor (AFP)', implemented by GIZ (Deutsche Gesellschaft fuer Internationale Zusammenarbeit) supported the organisation of the conference.
The AFP project is funded by the German and Australian governments and the privately owned mining company MMG Lane Xang Minerals Ltd.
Following the opening rema rks the results of a microfinance survey in Laos were presented.
Other speakers presented new developments concerning policies and supervision of the microfinance sector.
Based on this, the meeting had a strong focus on the various approaches that are used to enhance financial inclusion through village funds.
Apart from success stories, speakers addressed the constraints and challenges that may occur in the operation of village funds.
The Savings and Credit Union (SCU) Nonghaikog shared its experiences of transforming from a village fund to a licensed SCU.
Participants discussed challenges and opportunities for microfinance institutions when connecting their businesses with village funds.
Finally, suitable approaches to register village fund network supporting organisations were presented and discussed to ensure the sustainability of village funds and their support organisations.
More frequent exchanges to benefit from each other's knowledge was encouraged and may lead to more meetings on a technical level.
