China provides RMB 56 million grant for National Bank Card Payment System Project
Commitment amount
$ 10062039.324848792
Adjusted commitment amount
$ 10062039.32
Constant 2021 USD
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Laos
Sector
Banking and financial services (Code: 240)
Flow type
Grant
Infrastructure
Yes
Category
Project lifecycle
Description
On November 28, 2014, China provided an RMB 56 million grant through CDB to the Government of Laos for the National Bank Card Payment System Project. This project sought to build and operate an information exchange center capable of facilitating interbank transactions across the entire country. The project scope included the establishment of a card-making center, data center, and 160 information collection points across the country. China UnionPay was the contractor responsible for implementation. It signed a project implementation contract on November 28, 2014. The Central Bank of Laos was also involved in project implementation. On March 30, 2015, electronic ID cards started to be issued. Then, on November 30, 2015, the project was officially completed.
Additional details
This project is also known as the ATM Development Project. The Chinese project title is “老挝国家. 银行卡支付系统”项目 or 援老挝国家银行卡支付系统项目 or 援老挝国家银行卡支付系统项目.
Number of official sources
9
Number of total sources
16
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Laos [Government Agency]
Implementing agencies [Type]
China UnionPay [Private Sector]
Bank of the Lao P.D.R. [Government Agency]
China Development Bank (CDB) [State-owned Policy Bank]