According to IFC website, the Project consists of a senior loan of up to US$15 million to be provided to the Banque Franco-Lao Ltd. with a up to 7-year maturity in order to support the Bank to further extend loans to the SME sector in Lao PDR. The project is expected to:
1. Increase access to credit for SMEs and individual clients in Laos where banking penetration is still very low.
2. Demonstration effect: this will be the second loan of IFC in a commercial bank in Laos thus far and provide a role model for commercial banks keen to strengthen their corporate governance and better serve their customers and save cost.
BFL has two shareholders: French bank BRED Banque Populaire (“BRED”) holding 54% stake and Banque Pour le Commerce Exterieur Lao (“BCEL”) holding 46% stake.
The Banque Franco-Lao Ltd. has two shareholders: French bank BRED Banque Populaire holding 54% stake and Banque Pour le Commerce Exterieur Lao holding 46% stake. It provides personal and corporate banking services. Its personal banking services include current accounts, saving products, credits and loans, debit cards, and BFL VISA international debit cards; and corporate banking services include current accounts, saving products, credits and loans, debit cards, Internet banking, money transfer, and IFC loan programs.
Project Contact: Guilaume Perdon
Executive Managing Director, Banque Franco-Lao Ltd.
Office Address: Lane Xang Avenue, Hatsady Village Chanthabouly District P.O. Box: 5720
Viantiane Capital, Lao PDR
Telephone No.: +856 21 285 111
Fax No.: + 856 21 285 222
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/