Banks, financial institutes ordered to defer principal and interest payments

The Bank of the Lao PDR has issued a decision ordering commercial banks and micro-financial institutes to postpone for three months – from May – deadlines for principal and interest payments for those who have borrowed loans for living expenses.  

The decision, dated May 13, 2021, aims to mitigate the impacts of the Covid-19 variant on loan borrowers of commercial banks and financial institutes who are employees of businesses or organizations that have stopped their business activities, and freelancers who are unable to earn money due to the Covid-19.  

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