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IFC Steps Up Support of Private Sector Development in Lao PDR


In Vientiane:
Vonglatda Omany
Phone: +856 21 450 017
E-mail: vomany@ifc.org


Luang Prabang, Lao PDR, December 15, 2011—IFC, a member of the World Bank Group, in collaboration with the Lao National Chamber of Commerce and Industry, is helping entrepreneurs in Lao PDR find financing and expertise to grow their businesses, create jobs, improve livelihoods, and spur economic growth.

IFC launched a road show today in Luang Prabang to promote its financing and advisory solutions to businesses in the north of the country.  More than 40 business representatives from five northern provinces attended the meeting at the Hotel De La Paix, in addition to senior officials from the Lao National Chamber of Commerce and Industry, and local authorities.

“As the largest global development institution focused exclusively on private sector  development in developing  countries, IFC’s mission is  to help the private sector become a key growth engine for  Lao PDR ,” said Aimilios Chatzinikolaou, IFC’s Resident Representative in Lao PDR. “The objective of this event is to promote among business communities in the northern provinces awareness and understanding of IFC and what support we can provide.”

After Luang Prabang, the road show will continue to other cities in the central and southern parts of Lao PDR in 2012.

“IFC and the Lao National Chamber of Commerce and Industry have a long history of partnership started from the joint establishment and administration of the Lao Business Forum since 2005,” said Dr. Sananh Choulamany, Vice President of the Lao National Chamber of Commerce and Industry. “This event is another joint effort to help participants learn more about IFC as an active international development institution in Lao PDR and how to effectively approach the institution for financing and advisory services.”

IFC started its operation in Lao PDR in 1998 and the total investment committments, in both debt and equity, as end of November 2011 has reached nearly $42 million. IFC aims to promote private sector development that helps bring about sustainable and inclusive economic development in Lao PDR.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.