Representatives from different banks, finance institutes, andthe law sector as well as teachers from banking and financial colleges have completed a learning session aboutvalue chain finance to improve their knowledge and capacity.
The two-day training workshop on value chain finance was held in Vientiane on May 29-30.
The workshop was co-chaired by Director General of State Assets Management Department, the Ministry of Finance Kaseumsy Phommahavong, Chairman of Lao Banker’s Association Phoukong Chanthachak, and Head of International Finance Corporation (IFC) Vientiane Office Phongsavanh Phomkong.
On the first day of the workshop, trainees learnt about key insights of value chain finance, understanding modern value chains and the role and principles of value chain finance, inventory finance, credit decision process on inventory finance, and seller-centric products (receivables finance).
On the second and last day, they learnt about buyer-centric products (approved payables finance), registering security interests in movable property, and working with agri- and small value chains and cross-border value chain financing.
Lessons were shared to the trainees by foreign experts who have several yearsof experience in the banking and financing industry, according to Ms Kaseumsy.
Head of International Finance Corporation (IFC) Vientiane Office, Mr Phongsavanh said that IFC has been assisting Laos to develop a modern secured transactions framework and a movables finance market with the primary focus on improving access to finance for rural and small and medium businesses.
The movables finance market in Laos is gradually taking up. One of the important pieces of work ahead of us is to develop the capacity of lenders and other supporting sectors in movables finance, Mr Phongsavanh said.
As said, the movables finance market in Laos is just taking up and still fragile and needs nurture and caring. We still have a long way to go both in market capacity building and more importantly in improving the secured transactions legal framework, added Mr Phongsavanh.
Source: Lao News Agency