ID :
26953
Tue, 10/28/2008 - 11:03
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https://oananews.org//node/26953
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Laos, France establish new banking institute in Vientiane
Laos, France establish new banking institute in Vientiane
(KPL) The Banque Pour le Commerce Exterieur Lao (BCEL) has cooperated with a French banking group Bred Banque Populaire to construct a Laos-France Bank in Vientiane Capital with a registered capital of US$ 20 million, which is expected to open early 2009.
A memorandum of understanding (MoU) was signed here last Friday by Deputy Director of the Bank of Laos Mr Somphao Faisith representing the BCEL, and Deputy Director General of COFIBRED Mr. YVES Jacquot representing the Bred Banque Populaire.
French Ambassador to Laos Mr. Francois Senemaud and relevant officials witnessed the signing.
The French side holds 54 per cent or over US$ 10 million of the investment while the Banque Pour le Commerce Exterieur Lao takes the rest or US$ over 9 million.
Mr Vankham Voravong, Deputy Director of the Banque Pour le Commerce Exterieur Lao, said that the newly founded bank planned to expand its service to the provinces of Luang Prabang, Champassak and Savannakhet in the near future.
The new establishment is important for the cooperation between the two banks of Laos and France. The development also helps convince local businesses in the banking sector, said Mr Jacquot.
(KPL) The Banque Pour le Commerce Exterieur Lao (BCEL) has cooperated with a French banking group Bred Banque Populaire to construct a Laos-France Bank in Vientiane Capital with a registered capital of US$ 20 million, which is expected to open early 2009.
A memorandum of understanding (MoU) was signed here last Friday by Deputy Director of the Bank of Laos Mr Somphao Faisith representing the BCEL, and Deputy Director General of COFIBRED Mr. YVES Jacquot representing the Bred Banque Populaire.
French Ambassador to Laos Mr. Francois Senemaud and relevant officials witnessed the signing.
The French side holds 54 per cent or over US$ 10 million of the investment while the Banque Pour le Commerce Exterieur Lao takes the rest or US$ over 9 million.
Mr Vankham Voravong, Deputy Director of the Banque Pour le Commerce Exterieur Lao, said that the newly founded bank planned to expand its service to the provinces of Luang Prabang, Champassak and Savannakhet in the near future.
The new establishment is important for the cooperation between the two banks of Laos and France. The development also helps convince local businesses in the banking sector, said Mr Jacquot.
