Delegates from the Bank of the Lao (BOL)—the central bank of the Lao
People's Democratic Republic (PDR)—recently visited the Land Bank of
the Philippines (LANDBANK) to learn more about the state-run Bank’s
operational model for development financing.
BOL International Cooperation Department Director General Phengsy
Phengmaung praised LANDBANK’s extensive experience and success in
providing accessible finance to micro, small, and medium enterprises
(MSMEs), with the study visit aimed to enhance BOL’s own Lao Access
to Finance Fund (LAFF) Project.
LANDBANK shared to the delegates its intensified efforts in supporting
key local economic sectors, particularly MSMEs, during the study visit at
the LANDBANK Plaza on 25 October 2022.
“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 C. Borromeo.
BOL’s LAFF Project aims to provide MSMEs in Laos expanded access to
sustainable and needs-based financial services.
Mr. Phanthaboun Sayaphet, Deputy Director General of the Finance
Institution Supervision Department and LAFF Project Steering
Committee member, led the delegation from BOL, which included other
members of the LAFF Project team.
