RDB Visits and Works with VBSP

Within the framework of the cooperation program for the 2026-2027 period between the Vietnam Bank for Social Policies (VBSP) and the former Lao Policy Bank, now the Rural Development Bank of Laos (RDB), on the afternoon of March 11 in Phu Quoc Special Administrative Zone, An Giang Province, a high-level delegation from RDB led by Mr. Souphak Thinxayphone, General Director, paid a visit and held a working session with VBSP. On behalf of VBSP, the delegation was received by Mr. Duong Quyet Thang, Member of the Party Committee of the Government, Secretary of the Party Committee, Member of the Board of Directors, and General Director of VBSP, together with VBSP Deputy General Director; the Chairman of the Trade Union; the Chief of Office; the Director of the International Cooperation and Communications Department; and the Directors and Deputy Directors of VBSP branches in An Giang Province and Ho Chi Minh City.

VBSP General Director Duong Quyet Thang shares the history and development of VBSP

At the reception, Mr. Duong Quyet Thang, General Director of VBSP, warmly welcomed the high-level delegation of the RDB and extended his best wishes to the delegation during their working visit to VBSP.

The General Director of VBSP Duong Quyet Thang affirmed that VBSP always highly values the strong and enduring cooperative relationship between Vietnam and Laos in general, and between the two banks in particular. VBSP stands ready to share the experience it has accumulated throughout its establishment and development for research purposes and for practical application in Laos.

RDB General Director Souphak Thinxayphone speaks at the working session between RDB and VBSP

VBSP General Director Duong Quyet Thang shared with the delegation RDB the history of VBSP’s establishment and development. Over more than 30 years, starting from the initial steps with the Preferential Lending Fund for Poor Households established in 1995, VBSP has now become an effective instrument of the Party and the State of Vietnam in implementing preferential credit policies, thereby contributing to the effective realization of the major guidelines, policies, and key objectives set forth by the Party and the State.

Although the Lao Policy Bank has only recently been transformed into RDB, the cooperative relationship between the two banks has been maintained continuously and stably without any interruption, and continues to develop on the foundation of trust and close cooperation built over the years.

Overview of the working session between VBSP and RDB

On behalf of RDB, RDB General Director Souphak Thinxayphone expressed his sincere appreciation for the warm reception extended by VBSP. He emphasized that during the 2025-2026 period, in implementing the Memorandum of Understanding and the Cooperation Program signed between the two banks, both sides will actively promote the exchange of knowledge and experience in governance and management; enhance training to improve the quality of human resources; and comprehensively implement professional operations, particularly the implementation of preferential credit programs in line with the policies of the Governments of Vietnam and Laos, with the aim of achieving poverty reduction and contributing to the socio-economic development of each country. Drawing on the valuable lessons and experience gained from VBSP through previous visits and working exchanges, RDB will implement its strategic plan to 2030 with a vision to 2035, aiming to become a leading bank in providing financial services for rural development and serving as a foundation of the national economic system, thereby contributing to the sustainable development of Laos.

RDB and VBSP take a commemorative photo

During the working session, VBSP shared with RDB a number of topics related to the capital management mechanism, lending programs implemented at VBSP, risk management practices, and organizational and human resources management.