NAYOBY Bank was formally established in 2006 under the supervision of the Bank of Lao PDR as a legal entity. NAYOBY Bank aims to improve better lives quality of the poor in rural areas by providing low interests of loans and implementing the Government’s regulations and policies. The loan has a purpose in addressing poverty of the local or investors who intend to invest in poverty, to transform the economic nature, agricultural and forestry products, industry, small farming - livestock, handicrafts and services.

According to the Bank of Lao PDR website, the target group of credit is people in 68 poor districts, 64 focus areas which include 10 focus areas of the government and 54 focus areas of local or according to the period of residence and government. According to the 2019 statistics which reported at the Board of Directors this month, that has shown the total value of the agriculture worth about LAK 944 billion.

Furthermore, the value targets of cattle is LAK 1,026 billion with 52,552 households, goats is LAK 76 billion with 4,009 households and pigs is LAK 272 billion with 10,853 households. In addition, the value target of the agriculture which includes cardamom LAK 75 billion with 3,670 households and 450 hectares, cassava LAK 153 billion with 6,461 households and 31,900 hectares and rice LAK 24 billion with 6,898 households and 3,020 hectares.

The 2020 Strategy is that provide a new loan and improve policies and relevant regulations of human resource management and welfares policies. The new loan will be approximately LAK 295 billion for three periods of the loan, as details below:

1. A short-term loan with approximately LAK 38 billion. The loan period is allowed at a maximum 01 year or 12 months. The loan purpose is for short-term crops such as purchase seeds, fertilizers, soil preparation, small livestock (animal species, animal food and medicine), and handicraft (cotton, silk and materials);

2. A medium-term loan with approximately LAK 93 billion. The loan period is allowed at a minimum 1 year and not more than 5 years. The loan purpose is for agriculture (rice field preparation, gardening, and purchase fruits seeds), feeding large livestock (animal species, building, re-construction and animal food) and handicrafts (purchase materials);

3. A long-term loan with approximately LAK 165 billion. The loan period is allowed at a minimum 5 years. The loan purpose is for industrial plantations, feeding large livestock and construction of farms, machinery, production machines and other materials.

 

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