The recent flood in Laos has a serious impact on the lives of over 200 thousand people, especially those who live in Vientiane Prefecture. In order to help these people to recover from lost caused by this natural disaster, Laos needs approximately US$ 10 million. However, due to its limited budget, the government of Laos (GOL) calls for assistance from foreign countries, including United Nation for Development Programme (UNDP) that agreed to extend help to Laos.
Meantime, the Bank of Laos plans to held a new policy to help farmers who are flood victims for their lost crops by extending the due-period of repaying loans to next year as well as increasing their loan amounts. However, farmers who badly need fund to cultivate their rice often have to go to private businesspeople, said Mr. Khamkeo Panyasily, a high ranking officer at Ministry of Agriculture and Forestry. Taking loan or credits from private sector often make these farmers pay back with high interest rate or other unfair benefits; thereby, loans from public sector are urgently in need, he added.
Listen to Songrit's report for more details in Lao.