Ambassador of the Lao PDR appreciates CFC for its focus on smallholders and SMEs
H.E. Mr. Phoukhong Sisoulath, Ambassador of the Lao People’s Democratic Republic to the Netherlands, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. H.E. Mr. Phoukhong Sisoulath came to visit CFC, for the first time, to know more about the activities of the CFC and its impact on the ground.
Ambassador Sisoulath was accompanied by Ms. Somsanouk Ounnalath, Third Secretary of the Embassy. Ambassador Belal was accompanied by Mr. Hector Besong, Portfolio and Risk Manager.
During the discussion, Ambassador Belal briefed Ambassador Sisoulath on the current as well as probable future initiatives of the CFC. Ambassador Belal requested Ambassador Sisoulath to help CFC to disseminate their success stories and thereby help CFC to improve the format and character of CFC projects. Amb. Belal also requested Amb. Sisoulath to introduce CFC to potential stakeholders in Lao PDR so that CFC could scale up its work globally. Ambassador Belal wished to see more working relations and partnership with the countries in the days to come.
Ambassador Belal also briefed Ambassador Sisoulath on the ongoing initiative on the formulation of a fund titled CIIF (Commodity Impact Investment Facility) and thereby enabling CFC to contribute more for alleviation of poverty. Once formed, CIIF could also be an avenue for Lao PDR to join this impact investment fund as an anchor investor.
Before taking leave, Ambassador Sisoulath assured that he will do his best to bring good project ideas from his country and the region as well as promoting the idea of impact investment as best as he could. Ambassador Belal urged Ambassador Sisoulath to disseminate the information with business chambers, Ministries, and enterprises so that qualified SMEs/enterprises could submit quality projects from his country for consideration by the Executive Board of CFC, and to attend potential entrepreneurs from Lao PDR to attend the CFC webinar sessions arranged for potential applicants to the CFC call for proposals.
Ambassador Belal assured to pursue more innovative outreaches in the days to come to make the services of CFC available to as many people as possible in the commodity dependent developing world, with a heightened sense of innovations and creativity. Both CFC and Lao PDR are in agreement that this is a challenging time for the commodity producing developing countries and as such donor communities need to enlarge the pie of assistance far more bigger than what it is.
Amb. Sisoulath appreciated, in his word, “very good” work of CFC for remaining so focused for the smallholders and SMEs in the developing world and thereby addressing the problem of commodity dependence. As such, Lao PDR shall remain supportive to the CFC so that the shared journey of sustainability could be continued for alleviation of poverty globally.