Savanakhet, 25th to 27th September 2017. Savanakhet, 25th to 27th September 2017. Department for Small and Medium-sized Enterprise Promotion (DOSMEP) under the Ministry of Industry and Commerce (MoIC) organized a workshop on key features of Social and Environmental Safeguard for business associations and small and medium-sized enterprises (SMEs) in Lao PDR.

 

The workshop was chaired by H.E Mr. Somchit Inthamith, Vice Minister of Ministry of Industry and Commerce. There were more than 70 participants, including representatives from line departments, participating financial institutions, business associations and SMEs attended the workshop.

In his opening remarks, H.E Mr. Somchit welcomed all participants and commended the achievement of previous workshops that took place in the northern and central parts of the country as well as the effort of DOSMEP towards the project implementation.

During the workshop, Mr. Bounhom Phothimard, Social and Environmental adviser, provided a brief overview as well as highlighted objectives of the Small and Medium-sized Enterprises Access to Finance Project (SMEA2F). He also emphasized the importance of safety and health at workplace. Furthermore, the workshop provided opportunities for SMEs, who received loans from the project to share their experiences on how to access to the project’s loans.  

The purpose of the workshop was to promote social and environmental safeguard to participating financial institutions and SMEs by focusing on three key features: 1) increase understandings about social and environmental safeguard under Small and Medium-sized Enterprises Access to Finance Project; 2) assist participating financial institutions and SMEs to evaluate and analyse basic information related to social and environmental impact; 3) help SMEs to run their businesses in line with social and environmental safeguard policies regulated by the government and the World Bank.

Small and Medium-sized Enterprises Access to Finance Project is supported by the World Bank. The project aims to assist Lao SMEs to access to finance by providing long-term loans via participating financial institutions, including ST Bank, Sacom Bank and Lao-China Bank (LCNB).

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