BFL bank, Phu Bia Mining and GIZ bring financial literacy to remote villages
BFL bank, Phu Bia Mining and GIZ bring financial literacy to remote villages
Phu Bia Mining has provided 440 million kip to 11 villages to set up vi llage banks.
In order to give banking access to people living in rural areas, Banque Franco-Lao (BFL), Phu Bia Mining and Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH conducted joint training on September 29-30 on financial services and financial literacy in 3 villages of Xaysomboun province: Ban Namchang, Ban Nammo and Ban Namngone.
The goal of the initiative is to teach people about money management skills, BFL Sales Officer Mr Suelor Chayer said. BFL bank gave an introduction to the use of Automated Teller Machine (ATM) services (balance checks, withdrawal of money, etc.) and explained the benefits of deposits, while the GIZ tra iner focused on basic financial literacy.
He said money plays a central role in our life. Financial knowledge and skills are a key factor for individual economic success. How one spends, saves and invests, determines one's financial wellbeing in the future. Through the training, people learned how to plan financially and build savings for the future. Mr Pan, one of the participants, said, I learned how to save my money more effectively and can use the services of th e Bank easily with the ATM now.
One of the female participants said: It's the first time I have learned about financial literacy and it's very helpful for my daily life.
BFL, Phu Bia Mining and GIZ are committed to continuing this programme of financial literacy education as part of their commitment to corporate social responsibility.
