Over half a century ago, Lao PDR began its journey to become a modern nation and committed itself to long-term development ambitions. It has delivered electricity, schools, roads, and has become an important energy exporter.
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Vientiane, August 14, 2014 – The Government of Lao PDR and the World Bank Group today signed two agreements for the new World Bank Group financing of more than USD40 million.The new support for the Small... Show More + and Medium Enterprise Access to Finance Project includes a USD10 million grant and a USD10 million credit from the International Development Association, and at least USD4 million from the International Finance Corporation in risk sharing funds. The project will provide long term credit to small firms and help them to grow and create more jobs.“The ceremony today reaffirms the commitment and cooperation between the Government of Lao PDR and the World Bank in supporting Government priorities as outlined in our National Socio-Economic Development Plan. SMEs, hydropower and mining sectors form an important part of the Lao economy. The two projects will contribute to the socioeconomic development and environmental sustainability of Lao PDR”, said H.E. Mme. Thipphakone Chanthavongsa, Vice M Show Less -
WASHINGTON, June 9, 2014 - The World Bank’s Board of Executive Directors today approved the following project: Lao PDR - Small and Medium Enterprise Access to Finance ProjectIDA Credit: US $10.0... Show More + million equivalent Terms: Maturity = 40 years, Grace = 10 yearsIDA Grant: US $10.0 million equivalentProject ID: P131201Project Description: The objective of the project is to provide long-term funding sources for banks so they, in turn, can provide long-term credit to small and medium enterprises.For more information, please visit here:http://www.worldbank.org/projects/P131201?lang=en Show Less -
Washington, D.C., June 9, 2014 – The World Bank’s Board of Executive Directors today approved US$10 million grant and a US$10 million credit from the International Development Association (IDA) to support... Show More + the growth and expansion of small and medium enterprises (SMEs) in Lao PDR by providing access to long-term credit. SMEs are an important part of the economy of Lao PDR and employ a large part of the population. Yet, less than 20 percent of SMEs can access to long-term credit, which makes it difficult for them to grow and compete against other SMEs in Asia. The newly approved SME Access to Finance Project will provide long-term funds to enable SMEs to purchase new equipment, expand their business premises, upgrade their technology, and scale up their business operations. The project will be implemented by the Department for Small and Medium Enterprise Promotion (DOSMEP) under the Ministry of Industry and Commerce.The project will focus on providing line of credit to commercial ba Show Less -
Washington, D.C., October 23, 2012—Local entrepreneurs in developing countries are finding it easier to do business than at any time in the last 10 years, highlighting the significant progress that has... Show More + been made in improving business regulatory practices across the globe, according to a new report released today by the World Bank and IFC.The report, Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises, marks the 10th edition of the Doing Business series. Over the past decade, these reports have recorded nearly 2,000 regulatory reforms implemented by 180 economies. The reforms have yielded major benefits for local entrepreneurs across the globe. For example:Since 2005, the average time to start a business has fallen from 50 days to 30—and in low-income economies the average has been reduced by half.In the past eight years, the average time to transfer property fell by 35 days, from 90 to 55, and the average cost by 1.2 percentage points—from 7.1 percent of the Show Less -