The Inthira Group signed an agreement with the Lao Development Bank (LDB) on 18 October, to provide financing to the 20-year-old tourism and hospitality company for developing sustainable tourism products.
According to Inthira Founder and CEO Inthy Deuansavanh, “This is a strategic partnership agreement in which the LDB will provide easy access to financial support to Inthira for developing sustainable tourism products in Laos.”
The Vientiane Times reported the initial funding will build visitor facilities at a protected forest in Vientiane Province and at the Rock Viewpoint at five-man Mountain, which offers accommodation, dining, and a mountaintop zip-lining experience on the popular Khammouane Loop.
Though Mr Deuansavanh could not provide details of these projects, he noted, “The LDB will support long-term loans for any of our tourism development projects.”
He added that he hopes this initiative between Inthira and the LDB will spark “other banks and the government to think about how to support all Lao tourism enterprises, not only in speeches at meeting halls but with action. If we show it works, more funding might become available to distribute benefits to the entire industry.”
Mr Deuansavanh stressed, “Travel businesses in Laos face challenges in accessing loans, so this support will show that helping tourism businesses develop has potential in Laos.”
He also pointed out that Chanlern Xekong Power LTD has purchased 70% of the shares in LDB.
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