The Nakai Saving and Credit Union (SCU) was officially launched on Friday 6th November 2020. After 2 years of implementation, the operating business license handover ceremony was held at the Nakai Administration Office by the co-chair of Mrs. Bouaka Keomany, Nakai Governor, and Mr. Soulisack Phomphothichack, Vice Managing Director Bank of Laos – Central Laos; with representatives from the Nakai District, the Bank of Laos, The Lao Microfinance Association, the Association for Autonomous Development (ADA) and Nam Theun 2. These organizations have been actively involved in and contributed to providing financial and technical support to the Nakai Saving and Credit Union and its personnel.
The SCU aims to help and support each of the 16 village Development Funds (VDF) in Nakai, to improve villagers’ access to funds in order to promote local entrepreneurship. This support consists of consulting and access to increased value-added services to facilitate the VDFs under the regulations of the Bank of Laos to strengthen profitability, transparency, and accountability.
The SCU is a success story in Nakai and its communities, especially the resettled communities. This is a great example of the post-resettlement agenda and shows the careful attention towards our communities and reflects the development plan of the government. Hiring Nakai local staff to manage the SCU is a good example of sustainable development and ownership. I would like to thank and congratulate all the development partners and wish sustained success to the Nakai SCU.
Mrs. Bouaka Keomany, Nakai Governor
Since 2012, the Village Development Fund has been a success in Nakai. After the closing of the Resettlement Implementation Period in 2018, Nam Theun 2 has been looking for ways to make this system more sustainable and get more involvement from the locals. Nam Theun 2 has invited experts and organizations to study the strengthening of the SCU through funds provided by the Nam Theun 2 Development Fund. The local authorities understand the importance of transparency and the dedication of the personnel for the sustainability of SCU.
Mr. Phouthakone Luangyotha, CSR Manager – Nam Theun 2
