Vientiane, Lao PDR, March 6, 2025, The Lao Government, through the Department of Planning and Finance under the Ministry of Natural Resource and Environment (MONRE), in collaboration with the Global Green Growth Institute (GGGI) in Lao PDR, organized a closing workshop of a Green Climate Fund (GCF) Readiness Project entitled “Stage 1 Accreditation Support of Direct Access Entities for On-lending and/or Blending Fiduciary Functions”. The workshop was chaired by Mr. Sounadeth Soukchaleun, Deputy Director General of the Planning and Finance Department, MONRE and attended by representatives from the Environmental Protection Fund of MONRE, Ministry of Planning and Investment, Ministry of Finance, Bank of Lao PDR, BCEL, Agriculture Promotion Bank, ACLEDA Bank, development partner and GGGI. The workshop was presented with the project outputs and outcomes, disseminated the knowledge and discussed lessons learned during the past 24 months of the project implementation, and discussed the way forward. –

BCEL, as a nominated Direct Access Entity, presented that this project has enhanced their understanding of climate finance and GCF requirements as well as extending their business networks with other banks including Kasikorn Thai Bank and Vietnam Development Bank in ASEAN, working with international financial institutions and developing new green products. Over the past year and half, they have mainstreamed green finance into the BCEL’s Development Strategy for 2024-2029 which will provide a framework for the development of instruments to manage environmental and social risks, reduce greenhouse gas emissions and develop new green financial products. The Bank of Lao PDR and MoNRE, as a National Designated Authority of the GCF, have played a crucial role in guiding and supporting the project and ensuring alignment with relevant policies of the Government and GCF.

This workshop marked a significant step forward in strengthening the climate finance landscape in Lao PDR, ensuring that more local financial institutions can access and mobilize resources for climate change and sustainable development.