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credit access in UzbekistanUzbekistan is setting strong economic precedents for the European and Central Asian region. New supportive legislative policies have increased government spending on education and training programs. Global economists argue this is one of the main reasons Uzbekistan’s GDP has increased by more than eight percent the past three years.

Recent economic success is also attributed to growing economic freedom allowed by a currently changing Soviet-style economy. Uzbekistan has the most diversified economy in Central Asia. This provides an increase in GDP per capita, which has been increasing steadily over the past three years as well. Improvements in GDP per capita are strong indicators of improvement in personal living standards.

At present, the service sector accounts for about 45 percent of GDP. Examples of common Uzbekistan services include car repairs, the medical industry, teaching and the food industry. Not far behind services lies industry and agriculture. Uzbekistan is the world’s fifth-leading cotton exporter and seventh-leading producer.

Economic projections for the private sector show a steady increase over the next few years. Fiscal space in the government budget allows the economy to increase stimulus without increasing public debt. This leaves the public to continue growing in wealth while working simultaneously to steadily boost GDP.

The Banking System

Credit access in Uzbekistan is likely to increase due to recent banking growth. More money circulating through the Uzbekistan economy raises banking lending power. In the past, Uzbekistan banking systems limited access to foreign investments due to governmental regulations. Almost all money contributed had come from the domestic system.

Exclusive banking provided benefits such as domestic accountability. An increase in Uzbekistan credit access relied on loans by the population. Other past pros to this system included resilience to global financial crises. Banks proved most effective in 2014 when domestic capital injections provided immunity from failing global counterparts.

This, however, has changed in 2018. Total banking capital increased 26 percent in 2014, and this year banking directors met to discuss boosting central bank interdependence with foreign allies to target foreseen inflation rates.

Banking directors continue to emphasize the importance of regulation to create and maintain a newly inclusive baking system. The new system would include an interactive global policy regarding foreign loans and cooperation.

Personal Credit Access in Uzbekistan

Smaller banking also influences credit access in Uzbekistan. A closer look reveals smaller economic changes, some of which include assistance from the International Finance Corporation (IFC). The IFC is a member of the World Bank and works to improve business in the private sectors of developing countries.

Private sector investments from the IFC have improved credit access in Uzbekistan in several ways. For example, the financial Markets Infrastructure Program (2009 to present) aims to create and improve credit information sharing. Members of the public can now receive an accurate prediction of loan repayment possibilities.

The current program also educates possible loan participants on formal risk factors associated with taking a loan. The certification for financial institution employees is the most prevalent in this project, as it allows job creation while creating a more knowledgeable private sector.

The Mortgage Market Development Project also instituted public credit access in Uzbekistan by improving mortgage lending procedures in local banks, made possible through set lending practices. Both programs continue today, allowing the general public higher access to jobs, loans and savings options.

Strong Projections

Expansion into the global economic sphere is a huge step for Uzbekistan, as previous years of Soviet-style economics would not have allowed this type of growth. Compared to its European-Asian counterparts, the Uzbekistan economy is at the forefront of balance and diversity.

The shift from exclusive banking to possibly inclusive is a prime example of the forward economic thinking propelling the country forward. Further improvements to liberalize the Uzbekistan economy, establish rule of law, social safety, constructive foreign policy and personal banking are also paving the way for success in the coming years.

– Logan Moore
Photo: Flickr

franchising to fight povertyThe concept of franchising is not new. But for most people, the word “franchising” only brings up images of fast food restaurants. This is not a surprise; food giants like McDonald’s remind consumers of how impactful franchising can be. But the impact of franchising stretches beyond the food industry. Franchising has worked for countless industries, ranging from pet supplies to hair salons.

With the benefits that franchising provides, it is not hard to see why. The training and resources that franchisors offer make starting a business much easier. A complete business model helps offset the risk of failure. For many, this makes the dream of entrepreneurship a reality.

In the developing world, franchising can be a powerful force as well. The business systems that franchising provides are a framework for success. With more citizens owning businesses, empowerment is inevitable. For these three businesses, the usefulness of franchising to fight poverty is clear.

Jibu Uses Franchising to Fight Poverty

In Kenya, Rwanda and Uganda, Jibu uses franchising to increase water access. The company establishes storefronts in communities that lack adequate clean water. The storefronts use filtration to produce and provide water to those that need it.

In addition, the stores provide a path to entrepreneurship. Franchisees start off with a micro-franchise business. These businesses distribute (but do not produce) clean water. This allows the franchisee to become accustomed to running the business.

Throughout the process, Jibu provides training and support. If successful, a full franchise with on-site filtration is set up. Franchise owners can then produce and distribute clean water. Despite the greater effort, allowing business owners to become accustomed to running a store is a key part of its strategy. And since the average Jibu business owner breaks even in three months, the effort is worth it. With the Jibu model, using franchising to fight poverty is a reality.

Fan Milk Limited

The model of franchising in developing nations is not new to Fan Milk Limited. Established more than 50 years ago, this company sells ice cream products in Ghana.

Business owners set out on a bike each day and distribute product throughout the country. The vendors bike to a central depot to pick up the product. After this, they bike around various routes in their region to sell the ice cream treats.

In the case of Fan Milk Limited, biking is profitable. With this business, the average franchisee breaks even in about two weeks. This provides a lifestyle benefit, as well as a clear use of franchising to fight poverty.

Like Jibu, the franchisee can expand. Vendors can fund their own depots with greater investment. This provides a host of opportunity for Fan Milk Limited business owners.

Mr. Bigg’s

In the case of Mr. Bigg’s, the benefit provided by franchising is less direct. This Nigerian fast food chain, owned by UAC Restaurants, is a favorite in the country. With the franchising model, this company has managed to expand to more than 150 locations.

The effects of Mr. Bigg’s are far-reaching. The franchised restaurants provide meaningful employment to 6,000 Nigerians. Having income helps to lift Nigerians out of poverty and improves their quality of life.

On top of this, the restaurant owners receive extensive training to help them succeed. These tools aim to ensure that the businesses thrive. The average Mr. Bigg’s restaurant owner breaks even between 24 and 30 months after opening. And when businesses succeed, the country as a whole does, too. With its model, Mr. Bigg’s uses franchising to fight poverty.

Whether with water, ice cream or fast food, franchising brings results. Franchising implements a system of support that helps business owners find success. In developing nations, this concept can drive concrete change. Jibu, Fan Milk Limited and Mr. Bigg’s show exactly that. For these companies, franchising is more than smart business. It is the right thing to do.

– Robert Stephen

Photo: Google

credit access in Burkina FasoIn Burkina Faso, a landlocked country in West Africa, access to credit is very limited. Around 44 percent of the population lives on less than $1.90 a day, only 15 percent of the population has access to a checking account and a mere seven percent of the population has access to banking services.

But the scarcity of credit access in Burkina Faso is more reflective of the country’s socioeconomic structural barriers rather than a systemic lack of capital. The banking system is regulated by the Centrale des États de l’Afrique de l’Ouest (BCEAO) and is comprised of 12 commercial banks and five specialized credit institutions, and as of June 2011, the majority of these banks met the new capital regional requirement of CFAF five billion.

But credit access is generally concentrated to a few large clients, with collateral requirements and high interest rates of 10-12 percent, preventing the majority of small and medium sized borrowers from participation. Pervasive gender inequality especially exacerbates these high barriers of access for women. Women are typically confined to lower paid informal sector jobs (such as subsistence agriculture) and there is no legislation prohibiting discrimination in access to credit based on gender or marital status.

However, the recent implementation of microcredit initiatives has helped lower these barriers to credit access in Burkina Faso, especially for women in rural areas. One of these programs is part of the Victory Against Malnutrition Project (VIM) that works with 200 villages in the Sanmatenga province and is funded by USAID’s Office of Food for Peace, implemented by ACDI/VOCA, Save the Children and three local NGOs. For example, in 2015 through a partnership with the microfinance institution Caisse Populaire, VIM brought financial agents to the village of Ouintokouliga and offered education and access to financing options.

For village resident Nobila Koroga, access to this additional capital allowed her to buy more animals on her farm which, in turn, generated enough extra produce and additional income to create food security for her household, pay her children’s school fees and cover unexpected issues such as family medical visits. This is especially significant considering that Burkina Faso’s human development index ranking is one of the lowest globally and the country is especially challenged by low levels of education and healthcare.

As Koroga’s experience demonstrates, credit access is a crucial asset in socioeconomic development and empowerment. The government of Burkina Faso has recognized this and is making financial inclusion a priority, as outlined in a recent IMF report.

One of the goals of the government’s four-year National Plan For Economic And Social Development, which went into effect in 2016, is to bring broader banking service utilization rates to 35 percent by 2020. This will begin to be implemented in 2018 through the national inclusion financial strategy, which, alongside further expanding microcredit initiatives, also emphasizes mobile banking and the reduction of administrative barriers.

Additionally, on March 14, the IMF approved a three-year arrangement with Burkina Faso under its extended credit authority, totaling $157.6 million in support of these initiatives. While credit access in Burkina Faso, and banking more broadly, still has a long way to go in terms of inclusion, the success of these international collaborative microfinance initiatives and the country’s broader long-term strategy demonstrate it is embarking on a path toward success.

– Emily Bender

Photo: Flickr

Credit access in BoliviaCredit access is considered a key driver of economic growth and poverty alleviation, capable of granting the poor and small businesses the funding necessary to invest in their future. In the past, credit access in Bolivia has seen an expansion through innovative commercial initiatives and through recently imposed laws, Bolivia’s government has sought to encourage the expansion of credit in the country and to direct it toward productive and socially useful sectors.

In one respect, the story of credit access in Bolivia has been particularly influential: commercial microfinance. When BancoSol, originally a charity sponsored by Acción Internacional, transformed itself into a microfinance commercial bank in 1992, it became the first chartered microfinance bank in the world.

The transition showed the country that microfinance could function without the largesse of nongovernmental organizations and within a commercial environment. Significantly, by proving this model was feasible, it provided a meaningful lesson for international observers.

Since then, the country has continued to burnish its legacy of credit initiatives in microfinance and beyond. It has consistently ranked highly in the annual Global Microscope, a report prepared by the Economist Intelligence Unit (EIU) that assesses the regulatory environment for financial inclusion in 55 countries.

In 2016, Bolivia ranked thirteenth of 55 and sixth of the 21 Latin American and Caribbean countries included, and in its 2015 report, the EIU highlighted the country’s Financial Services Law (FSL) as a key in moving toward greater financial inclusion. Whether the FSL, enacted in 2013, will achieve all its goals is yet to be determined, but evidence to date suggests the government’s initiatives have had their intended effect.

The law, among other objectives, mandates credit quotas and interest rate caps to encourage lending to designated productive sectors and social housing. This requires banks and other financial institutions to extend a minimum share of their credit toward these objectives at an affordable rate. A 2015 report by the International Monetary Fund (IMF) found that the requirements were spurring progress: total credit reached almost 46 percent of GDP in 2015 from 35 percent in the mid-2000s, and credit directed to the productive sectors and social housing increased 26 percent in the year leading to June 2015.

In combination with elements of the law improving deposit insurance and consumer protection measures, the FSL has laid the groundwork for furthering the expansion of credit access in Bolivia. As the IMF report emphasizes, the Bolivian financial system is fundamentally sound, but the methods employed to increase credit access do not come without risks.

In attempting to lower borrowing costs, interest rate caps can ultimately limit access to credit and hurt bank profitability, while credit quotas can lead to banks’ portfolios becoming over-concentrated and designated borrowers becoming over-indebted, as credit is extended disproportionately to certain sectors. The report stresses that managing these risks will be vital for the country to ensure its expansion of credit is healthy and sustainable.

Overall, from BancoSol’s breakthrough in the 1990s to modern regulatory initiatives, credit access in Bolivia has continued to expand. Given the capability of financial inclusion to economically empower the poor, it is likely to remain an important goal in the country for the foreseeable future.

– Mark Fitzpatrick

Photo: Flickr

Small businesses make big changesSmall- and medium-sized enterprises (SMEs) are estimated to account for more than 90 percent of businesses in the world. SMEs employ around 60 percent of employees in private sectors and add around 50 percent of the world GDP. The benefits of SMEs cannot be overstated–small businesses make big changes.

Mahindra Rise is an example of a company that has far outgrown the small business classification, but it is an inspiring story for up and coming enterprises. Mahindra Rise began in 1945 in India as a steel company but has had the success and adaptability to extend beyond steel production. This company now works in 20 industries over 100 countries and is best known for its vehicle production.

At the 2015 Global Entrepreneurship Summit in Kenya, former President Barack Obama said, “Entrepreneurship creates new jobs and new businesses, new ways to deliver basic services, new ways of seeing the world—it’s the spark of prosperity.” President Obama is describing how small businesses make big changes. Here are a few examples of that small business strength.  

Farmerline

A mobile app based out of Ghana, co-founded by Emmanuel Owusu Addai and Alloysius Attah, Farmerline helps small farm-holders across Africa. A small-scale farm is dependent on market prices, weather and farming techniques, all of which can change quickly. This app, launched in 2013, has helped over 200,000 farmers across four countries increase their harvest by sharing information through the app.

Afghan Citadel Software (ACS)

Roya Mahboob helped co-found ACS at the age of 23 in 2010, helping to create a business aimed at creating opportunities for women to be incorporated into Afghanistan’s growing technical culture. Some of what ACS does is build internet classrooms, register users for online education and produce videos by young Afghan women.

Nirtech Limited

Co-founded by husband and wife duo Nichole and Ricardo Thompson in Jamaica, Niritech aims to help students in the Caribbean grow in the subject of digital literacy. Through an online platform, students are connected to instructors and have better access to education in order to become more competitive in the job industry.

FaceTagr

Vijay Gnanadeikan created the FaceTagr app to use face recognition to help find and identify missing people. The Chennai IT developer came up with the idea because of the huge amount of children that go missing in India; estimates are that about five children per hour disappear. Right now, the app is being tested by the police and government and, so far, FaceTagr has helped to locate 100 children in India.

Emerging companies understand their local contexts and create niches in order to compete with large multinational corporations. Local companies use their knowledge and understanding to work around institutional voids and an inability for market research. Companies that treat voids as opportunities create profitable enterprises. These small businesses make big changes in their world by not being afraid to compete and discovering the local needs.

– Natasha Komen

Photo: Flickr

North Korea poverty
Despite constant attempts by the North Korean government to delegitimize critics of the country’s severe living conditions and human rights violations, the dire status of its economy is one of the main causes of the consequent rise of North Korea poverty. Such steep levels of economic discomfort and overall hardship in everyday living stems from two main factors, namely the closeness of North Korean economy, and its strict and draconian political system.

A Closer Look

In a country where one in four children suffer from malnutrition, and episodes of defector citizens with parasites living in their stomach are reported, a closer look to the various economic sectors, industries and social relations can be very revealing. In terms of economic freedom, North Korea has been ranked 180th by the Heritage Foundation in 2018, preceded by Venezuela and followed by no one, effectively making it the least economically free country on the planet.

Moreover, there’s no detectable tax system since the government owns and directs virtually every aspect of the economy. As a result, a massive share of the GDP is in fact produced by the same entity that is supposed to tax it.

Regulatory pressure is also a crucial factor that contributes to increase North Korea poverty by tightening up the economy, which grew at an alarmingly slow rate in 2013 (1.1 percent) and in 2014 (1 percent), and decreased in 2015 (-1.1 percent).

Regulations and Shortages

Since private enterprise is virtually non-existent, strict regulations against any resemblance of a private sector are in place, a move thus rendering starting and managing a business practically impossible. The combination of all these factors makes North Korea very reluctant to produce wealth and increase its living standards, especially with the presence of continuous restrictions in international trade and economic sanctions.

Shortage of food and energy need to be compensated by international parties such as China, to which North Korea has grown increasingly more dependent over the last few years. However, a report from the North Korean Economic Watch observed that rice prices, contrarily to what one might have anticipated, have been remarkably stable over the past year.

With economic sanctions in place, it is well conceivable to expect a significant rise in inflation, especially in an overall and continuously poor economy such as that of North Korea.

Such phenomena led experts to believe that the rise of black markets might be the missing link behind such oddities; this would have reinforced, though, the simple yet harsh truth that the extremely high rate of North Korea poverty is a direct result of an economy that simply isn’t strong enough to provide basic and minimal items such as rice to its citizens and their standards of living.

New Rules

All of these instances occur while the government allocates a large amount of its attention and financial resources to the military and missile and nuclear development. This focus leaves primary industries such as agriculture on their own in addition to the high poverty rate and child malnutrition that North Koreans have to face every day.

Since South Korea officially withdrew its provision of farming fertilizers in 2008, the government started a program that delineates farmers are to use their own feces as fertilizers since livestock has became scarce.

Crop failure is also exacerbated by frequent inclement weather, lack of arable land and poor quality of the soil. Between these hardships and the use of human feces as fertilizer, health hazards have increased to the levels of large parasites growing in people’s intestines as a result of poor health.

The hope is that a significant increase of awareness and improved political and anti-poverty policies will help alleviate the seemingly perennial hardship that North Korean citizens have come to experience as normal.

– Luca Di Fabio

Photo: Flickr

Credit Access in UgandaThe ability to access credit in various countries is not often a topic of discussion. This issue usually tends to fall by the wayside when discussing various problems of countries around the world, despite the issue being of great importance when it comes to both the financial literacy and economic growth of a country.

In Uganda, credit access is not a pressing issue. The country is among the top six nations in Africa in regards to accessing credit. Credit access in Uganda is very important to sustaining economic growth and helping to alleviate poverty in the country. The increase in financial services for poorer communities can have a huge impact on eliminating poverty in those areas, which will improve the economy of the whole country and help improve financial literacy among the citizens.

Uganda has 24 banks, four credit institutions, a Social Security Fund, 60 private retirement benefit schemes and seven mobile money providers throughout the country. The abundance of credit access in Uganda has helped improve the economic status of the country as a whole, especially for those in impoverished neighborhoods. Financial services are immensely important when trying to improve the economy of a country, and that is what is happening in Uganda. The accessibility of financial services to poor citizens allow them to save money and help both them and the country grow economically.

The security of financial institutions allows the impoverished citizens of the country to feel safe entrusting their money to a bank and allows them to save more money than they would without a financial institution so easily accessible to them. This allows both citizens and businesses to balance their income and manage any financial shocks they may experience in the future.

Uganda is slowly but surely improving economically. The country saw a GDP growth of 4.8 percent in 2016, which is an improvement for the country as a whole. Although not as high as some neighboring countries, it is still progress for Uganda, and hopefully it will continue to grow.

Currently, the most popular form of credit access in Uganda is mobile banking, with more than seven million users. This is because of the increased popularity and use of technology in the country. More than half of Ugandans now have access to a financial institution. This is a vast increase from 28 percent in 2009. This shows that both financial literacy and economic stability is increasing in Uganda.

As the economy grows, so does the financial literacy of the country. The accessibility of financial institutions makes it easier for citizens to become more financially literate and manage their money better than they have previously. This will continue to benefit both the citizens and the country in the long run, as Uganda become more economically stable because of the number of easily accessible financial institutions that are now operating in the country.

– Simone Williams

Photo: Flickr

Credit Access in LiberiaLiberia is a predominantly rural nation. Because of this, the financial literacy of its citizens and the country’s financial institutions are often put on the backburner. This has resulted in credit access in Liberia lagging behind when compared to other countries.

In the country of Liberia, there has not been an effective credit rating system, and many businesses lack the records needed for credit approval. In response to this, the Central Bank of Liberia (CBL) has established a credit reference system which contains credit history and derogatory information about certain creditors. The CBL focuses on delivering financial services to the communities in the country without any services available to them. These services allow these sections of the country to become integrated into the formal economy.

These services include increasing access to medium-term financing, creating an environment for private sector job creation and improving and empowering the Liberian-owned business segment of the economy. This will help improve credit access in Liberia and allow more citizens and businesses to have up-to-date financial records. It will also improve the legitimacy of those businesses and their credit records.

The CBL has also begun to issue treasury bills in an effort to develop a capital market. This has allowed the country to expand its foreign market, which helps improve the economy of the country as a whole. With the help of the CBL, the financial system in Liberia is steadily improving. This is happening despite the Ebola crisis and external shocks from the fall in international commodities. Liberia is slowly becoming more financially stable, which is helping both citizens and businesses.

Throughout the country, there has been significant progress in strengthening the banking sector. This has included the adoption of a national corporate governance framework and increasing the regulatory capital adequacy ratio and the minimum capital requirements. These changes to Liberia’s banking system have helped improve the effectiveness of financial institutions throughout the country.

The CBL has recently implemented regulations for all licensed insurance companies operating in Liberia. The regulation sets the capital requirement for each class of insurance business. It also requires each company to maintain a minimum amount of capital. This has been implemented in the hopes of strengthening the insurance sector. These regulations have had a positive effect on credit access in Liberia. They help improve the economy of the country and strengthen its finances.

Despite a significant portion of the population still residing in rural areas, the financial institutions throughout the country are helping businesses become more credible and allowing them to maintain their financial records through banks. As a whole, Liberia has greatly improved its banking sector, and is well on its way to being a significant part of the formal economy.

– Simone Williams

Photo: Flickr

solidarity lendingFor too long, the plight of the urban poor had monopolized the concerns of those working to eradicate abject poverty. The millions of people in rural poverty have been forced to toil in silence, overshadowed by their urban counterparts and underrepresented by the advocates of economic development. Most are relegated to subsistence agriculture, making the best of what little they have. However, a renewed emphasis on the rural poor has facilitated new and innovative techniques to help, among them solidarity lending.

One such pioneer is SHARE Micro Finance Limited, which offers loans to rural women in India in an attempt to fund entrepreneurship among the rural poor. Recently, a number of studies have been conducted to assess the effectiveness of such programs, with some encouraging results. An article from the Stanford Graduate School of Business tells the story of Vinod Khosla, a venture capitalist from India. Khosla described solidarity lending as a “virtuous pyramid scheme” where groups of women are given modest loans from SHARE. This program differs from individual loans because “the group members are under strong social pressure not to default…and if one person does, the others have to make up for it”.

The program empowers women to invest the money in a stall at the local market or use it to invest in equipment which enables them to produce or transport their items more efficiently. To some, this may seem like only a marginal benefit, but Khosla reports that among nearly 200,000 clients, 77 percent saw reduced poverty.

To test the feasibility of such programs further, a study on solidarity lending was conducted in Mongolia, which compared the results to those of regular lending practices. Research showed that while repayment rates were similar, food consumption increased among group lenders, an encouraging sign to researchers.

Another study on group lending conducted by the African Growth Institute in Kenya revealed that “microcredit is an important entrepreneurial tool in alleviating poverty”. They also found that group lending was a way of achieving greater financial stability.

Because of innovative initiatives like solidarity lending, the rural poor are better equipped to prosper. By providing groups with much-needed access to financial capital, farmers from India to Mongolia to Kenya are no longer overlooked.

– Brendan Wade

Photo: Flickr

Credit Access in LaosFor many years, the government of Laos has been working to improve the country’s financial infrastructure and in turn its economic abilities. In more recent years, the focus on financial improvement has been through credit access for small and medium enterprises (SMEs). Improving access is an ongoing mission with a variety of different aspects that need to be addressed.

SMEs are vital to Laos’ economy and people, employing a large percentage of the country’s working population. Yet, a lack of credit access in Laos for these SMEs, with only about 12 percent being able to receive formal credit, leaves many businesses unable to grow and compete with other enterprises in Asia.

In 2014, the World Bank Group funded $20 million towards the growth and expansion of SMEs in Laos. This growth was accomplished with the use of long-term credit access. These funds, which were provided to commercial banks, made it easier for SMEs to access loans by reducing collateral and creating less of a risk for the banks themselves, which made them more willing to provide these funds. Although this project did allow many SMEs to upgrade their infrastructure and expand operations, it still was not enough to solve all the issues related to credit access in Laos, and many businesses continued to suffer.

As of 2017, Laos has been working to reform its credit system in order to improve access to funding for SMEs. The first step of reform is working to create a standardized credit reporting system. Although this is not a direct solution for credit access, it is a move towards it. Credit reporting is a way in which banks and lenders are able to maintain and access credit histories for companies wishing to receive funding.

This makes it easier to assess risk and in turn allows more SMEs to receive loans and reduces costs and collateral when doing so. The creation of a credit reporting system requires both funding and planning, which Laos has looked outside the country for. Japan, Canada and Switzerland have all aided with funding and planning as part of a larger International Finance Corporation project to improve the economic infrastructure and financial access of Laos.

Credit access in Laos is improving with government reforms and projects that make the financial systems and economic infrastructure of the country more hospitable for SMEs. However, this process takes a lot of time, planning, and funding, which Laos is unable to provide on its own. With further increase of foreign support, Laos will continue moving towards improving credit access in the country. This will help improve the country’s economy as well as provide many jobs for its people. As Laos’ economic abilities increase, it will not only better provide for itself, but become a more valuable asset to the global economy and the many countries invested in its financial future.

– Keegan Struble

Photo: Flickr