Scenes from the project closing ceremony.

Ministry closes Finance for Economic Recovery and Resilience project

The Department of SME Promotion under the Ministry of Industry and Commerce has wrapped up the MSME Access to Finance for Economic Recovery and Resilience project.
The closing ceremony this week was co-chaired by Deputy Minister of Industry and Commerce, Dr Manothong Vongsay, and Head of the World Bank Office in Laos, Mr Khwima Nthara.
 Approximately 200 participants attended, representing government agencies, the private sector, international organisations, business associations, banks, other financial institutions, and micro, small, and medium-sized enterprises (MSMEs).
The purpose of the gathering was to outline the achievements and results of the project, which was financed through a US$40 million concessional loan from the World Bank and implemented over a period of 5 years and 6 months.

The project aimed to provide working capital and fixed investment financing at affordable interest rates through participating financial institutions, while also offering technical assistance to MSMEs.
The project consisted of three main components: provision of credit to MSMEs; research and design of a credit guarantee mechanism for Laos; and technical assistance and capacity-building support.
The project achieved 100 percent disbursement of its allocated lending fund, totaling US$31.76 million, benefiting 357 enterprises through 377 loan contracts. Of these, 192 women-owned enterprises received loans totaling US$16.12 million.
After the completion of the project, these funds will continue to circulate within the economy under the management of the SME Promotion Fund, while ensuring repayment of the principal to the funding source.

The project strengthened MSMEs through 67 training and mentoring sessions, attended by 1,717 participants, including 621 women, 97 additional promotional and support activities, attended by 3,726 participants, including 1,286 women.
The project enhanced the capacity of Business Development Service Providers, enabling them to offer specialised advisory services to businesses.
Support was provided to strengthen the Bank of the Lao PDR in developing regulations governing credit guarantee companies.
The project supported the Ministry of Justice in studying and developing legal instruments related to the implementation of the Enterprise Bankruptcy Law and disseminating information about the law to the public.
Most importantly, the project facilitated the establishment of the Lao Credit Guarantee Company Sole Co., Ltd., representing a new financial product and mechanism in Laos.
The closing of the project does not signify the end of efforts to promote MSMEs. Rather, it marks the beginning of applying the lessons learned, achievements, and mechanisms developed under the project as a foundation for implementing the MSME Development Plan for 2026–2030.
At the end of the closing ceremony, certificates of appreciation were presented to the World Bank for its financial support, technical assistance, and continuous guidance, which contributed to the successful implementation of the project.
Certificates of appreciation were also awarded to the five participating banks that provided loans to MSMEs under the project to Saigon Thuong Tin Lao Bank, (Sacombank Laos), Laos-China Bank, Lao-Viet Joint Venture Bank, Maruhan Japan Bank Lao, and VietinBank Lao
Among them, Saigon Thuong Tin Lao Bank (Sacombank Laos) and VietinBank Lao received Outstanding Awards for their excellence in loan disbursement under the project.

By Advertorial desk 
 (Latest Update June 4, 2026)