Laos to step up financial support for SMEs

VIENTIANE (Xinhua): The Lao government's Small and Medium Enterprises (SMEs) Promotion Fund has injected 152 billion kip (some US$7.3 million) in financing for SMEs through commercial banks to mitigate the impact of the Covid-19 pandemic.

Agreements on the provision of financing in the form of long-term low-interest loans were signed on Friday (Oct 20) between the SMEs Promotion Fund and six commercial banks. Witnessing the signing were Lao Minister of Industry and Commerce Malaythong Kommasith and over 130 representatives of relevant departments and organisations, according to Lao Economic Daily report on Tuesday.