Nayobai Bank releases nearly 200 billion kip to poorest districts

Nayobai Bank releases nearly 200 billion kip to poorest districts

(KPL) Nayobai Bank released 184 billion kip of loan credit with low-interests to poor people in 622 villages of 36 districts over the past years to promote the market-oriented production, Head of Credit Department Voutthi Lueanvilayvong.
The Nayobai Bank was to follow up the Lao government’s policy on poverty reduction, especially the promotion of the market-oriented production for local people to produce agriculture and cottage business, he continued.
The bank gave credit to local people with three approaches including the prioritized Lao government’s projects, the agriculture production in season and the fixed job allocation. This is part of poverty reduction programme of the Government.
He said these should be related to the cultivation, animal raising, handicraft, processing and service sectors.
The credit loan includes short, medium and long terms with the interests of 7-10 per cent.
The main objective of this bank is focusing on reducing poverty among the poorest people in 47 districts by 2010 basically, he said.
However, the bank has also released about 29 billion kip credit loan to the cassava plantation project for supplying the Lao-Indochina Company.