ID :
79402
Fri, 09/11/2009 - 11:05
Auther :
Shortlink :
https://oananews.org//node/79402
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Phongsavanh Bank releases low interest loan to Vientiane residents
(KPL) The first private bank in Laos, Phongsavanh, has already released 25 billion kip of low-interest loan to more than 2,000 merchants to run cottage businesses and fight against poverty.
Just only over the past one month, after launching the subsidiary credit loan service by releasing low-interest loan of no more than 20 million kip, the bank received application forms from more than 3,500 applicants. The Phongsavanh Bank has launched the low-interest loan service since August. “Presently, the bank has approved 50 billion kip of loan for 3,000 merchants out of total number of 3,500 applicants for a total loan of 65 billion kip, said Mr Litsamy Rathsavong, Head of the Credit Loan Service of Phongsavanh Bank at a press conference held on 9 September.
On average, the bank releases loans to 200 customers daily.
He added that the low-interest loan service of the bank achieved the target and it received good response from society both the public and private sectors.
“The loan has been used for running family business, livestock, agriculture and scholarships, according to information from the application forms,” continued Mr Litsamy.This loan service is the first ever of its kind in Laos and promotes small-scale businesses, he added.
Just only over the past one month, after launching the subsidiary credit loan service by releasing low-interest loan of no more than 20 million kip, the bank received application forms from more than 3,500 applicants. The Phongsavanh Bank has launched the low-interest loan service since August. “Presently, the bank has approved 50 billion kip of loan for 3,000 merchants out of total number of 3,500 applicants for a total loan of 65 billion kip, said Mr Litsamy Rathsavong, Head of the Credit Loan Service of Phongsavanh Bank at a press conference held on 9 September.
On average, the bank releases loans to 200 customers daily.
He added that the low-interest loan service of the bank achieved the target and it received good response from society both the public and private sectors.
“The loan has been used for running family business, livestock, agriculture and scholarships, according to information from the application forms,” continued Mr Litsamy.This loan service is the first ever of its kind in Laos and promotes small-scale businesses, he added.
