{"id":604,"date":"2019-11-19T02:56:15","date_gmt":"2019-11-19T02:56:15","guid":{"rendered":"https:\/\/laff.org.la\/?p=604"},"modified":"2024-02-11T10:03:09","modified_gmt":"2024-02-11T10:03:09","slug":"germany-provides-additional-funds-for-laff","status":"publish","type":"post","link":"https:\/\/laff.org.la\/en\/2019\/11\/19\/germany-provides-additional-funds-for-laff\/","title":{"rendered":"Germany provides additional funds for LAFF"},"content":{"rendered":"<p><strong>VIENTIANE (Vientiane Times\/ANN) &#8211;&nbsp;The grant of 0.8\nmillion euros&nbsp;was provided through Germany\u2019s KfW Development Bank.<\/strong><\/p>\n\n\n\n<p>Germany has committed 0.8 million euros for the Lao\nAccess to Finance Fund (LAFF) to strengthen capacity building and training of\nthe Bank of the Lao PDR (BOL) and partner banks.<\/p>\n\n\n\n<p>The grant in the amount of 0.8 million euros was provided\nthrough Germany\u2019s KfW Development Bank.<\/p>\n\n\n\n<p>The handover ceremony took place on Tuesday at the BOL in\nthe presence of Director General of Banking Operation Department, BOL Ms\nFongchinda Sengsourivong, KfW Country Director Lorenz Gessner and a\nrepresentative of Ministry of Finance.<\/p>\n\n\n\n<p>\u201cThe additional grant for the Lao Access to Finance Fund\nwill further strengthen the banks\u2019 capacity and quality participating in the\nfund which will have in turn positive effects on the overall services provided\nby the banks to the private sector in order to develop and expand,\u201d Fongchinda\nsaid.<\/p>\n\n\n\n<p>\u201cThe consulting services for delivering training and\ncapacity building to the BOL and the partner banks are vital components for\nreaching the overall and specific objectives of the programme, which is the\nsupport of the commercial banking sector in Laos in providing sustainable and\nneeds-based financial services for poor households and micro, small and medium\nenterprises (MSME) in rural areas,\u201d cited KfW Country Director Lorenz Gessner.<\/p>\n\n\n\n<p>According to KfW, the first bank participating in the\nLAFF is ACLEDA Bank Lao, which has successfully disbursed more than EUR 3\nmillion over the last two years to MSME in Laos with an average loan size of\n2,600 euros.<\/p>\n\n\n\n<p>The programme objective is to facilitate the access of\nMSME to long-term finance in the domestic financial sector by offering eligible\npartner banks a target group oriented refinancing facility, which is aligned\nwith the existing business environment of the local banking system.<\/p>\n\n\n\n<p>The rationale of the focus on MSME is the expected above\naverage impact on poverty alleviation through job creation and income\ngeneration.<\/p>\n\n\n\n<p>KfW Development Bank is Germany\u2019s leading development\nbank and an integral part of KfW. It carries out Germany\u2019s Financial\nCooperation with developing countries on behalf of the Federal Government.<\/p>\n\n\n\n<p>It goals are to combat poverty, secure peace, protect the\nenvironment and the climate and make globalisation fair. KfW is a competent and\nstrategic advisor on current development issues.&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>VIENTIANE (Vientiane Times\/ANN) &#8211;&nbsp;The grant of 0.8 million euros&nbsp;was provided through Germany\u2019s KfW Development Bank. Germany has committed 0.8 million&#8230;<\/p>","protected":false},"author":7,"featured_media":615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[35,55],"tags":[],"class_list":["post-604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-35","category-55"],"_links":{"self":[{"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/posts\/604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/comments?post=604"}],"version-history":[{"count":1,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/posts\/604\/revisions"}],"predecessor-version":[{"id":605,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/posts\/604\/revisions\/605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/media\/615"}],"wp:attachment":[{"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/media?parent=604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/categories?post=604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/laff.org.la\/en\/wp-json\/wp\/v2\/tags?post=604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}