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EU provides US$ 3.9 million for SMEs
ASEAN AFFAIRS, May 31

(KPL) European Union (EU) has provided a grant worth US$ 3.9 million to
the Lao government for its improvement of small and medium enterprises.

An agreement on providing such grant aid was signed here yesterday between
the Director of Foreign Cooperation Department, Ministry of Foreign
Affairs, Dr Bountieng Mounlasy, and EU Charge d’Affaires Mr Sandro
Cerrato.

The signing was witnessed by representatives of relevant authorities.

With the cooperation of the Asian Development Bank and domestic
organization Small and Medium Enterprise Promotion and Development Office
(SMEPDO), during the next three years, EU will provide technical
assistance to upgrade the capacity of Ministry of Industry and Commerce’s
staff, especially in making economic analysis, equip SMEPDO with
technologies and facilitate the access to financial institutions of
business sectors.

EU will also help the government to improve rules on state enterprises in
order to strengthen the competitiveness of domestic enterprises.

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