Financing | June 2021

BFL bank & LHSE extends their initial financing agreement

BFL bank signed a new contract with Lao Holding State Enterprise (LHSE) to provide an additional USD10 million to finance strategic developments of the Lao PDR.

LHSE is a business entity of the Government of Lao PDR (GOL) for investment in the electric power sector. LHSE holds GOL shares in IPP project companies such as Nam Theun 2 Power Company Limited, the single largest project ever developed in the Lao PDR, and administers GOL interests under project Shareholder Agreements, etc.

Operating in Lao PDR for 10 years, BFL is a full commercial bank providing companies with a complete range of financing and transactional solutions. BFL already participated in major projects financing in the Lao PDR in different sectors such as energy, industry, real estate and hospitality.

This project financing is a subsequent of the first agreement between BFL bank and LHSE, which has seen the bank disburse an initial $10,000,000 in September 2020 to finance strategic developments in the Energy sector of the Lao PDR. This additional financing agreement is particularly significant for both entities as it further strenghen the development of The Lao PDR through sustainable, long term financial solution.

ABOUT BFL (BANQUE FRANCO-LAO Ltd)
BFL is a joint venture between BRED Banque Populaire (BRED Group) and BCEL Public. BRED is a cooperative Banque Populaire, supported by its 200,000 members and 4.4 billion Euros of equity, created in 1919. It is part of BPCE Group, ranked #17 banking group worldwide in terms of Assets. BRED is established worldwide with subsidiaries located in South East Asia (Laos, Cambodia, Myanmar), the Horn of Africa (Djibouti and Ethiopia), the Pacific region (New-Caledonia, Fiji, Vanuatu, and Solomon Islands). BCEL Public is the largest commercial Bank in the Lao PDR. Please visit www.bfl-bred.com for more details on BFL.

ABOUT LHSE Lao Holding State Enterprise
LHSE is a business entity of the Government of Lao PDR (GOL) under the management of the Ministry of Finance, aimed at investing in the electric power sector. LHSE is involved in different projects, in particular, Nam Theun 2 Hydropower, Hongsa Mine-Mouth Power, Xepian Xenamnoy Hydropower, Nam Ngiep1 Hydropower. Please visit www.laoholding.com for more details on LHSE.

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