On 5 June, the ASEAN Economic Integration Programme (EIP) Team presented a progress review of the Financial Inclusion Roadmap (FIRM) 2018–2025 to the Bank of the Lao PDR. The workshop brought together key leaders for a collaborative, data-driven discussion on Lao PDR’s financial sector evolution.

Conducted in close partnership with the Bank of the Lao PDR and the British Embassy Vientiane, the review is now nearing completion. The findings show that Lao PDR’s financial system has become significantly more regulated, digitalised, and regionally connected over the past few years.

Key milestones include:

• Global connectivity: Cross-border QR payments now connect Lao PDR with Thailand, Vietnam, Cambodia, and China.
• Digital payment growth: E-money users increased 15-fold, mobile banking users grew 6.4-fold, bank depositors doubled to 5.1 million, and digital payments rose from 61% of payment value in 2019 to 92% in 2024.
• Women leading inclusion: Women now surpass men in both formal account ownership and digital payment use—making Lao PDR one of only two ASEAN economies to achieve this.

Looking ahead: This inaugural phase or FIRM 1.0 has established a strong foundation for future financial inclusion efforts. The next phase will focus on addressing remaining gaps and expanding access for rural households, small businesses, returning migrants, and agricultural workers. 🔜

The EIP Team extends its thanks to the Bank of the Lao PDR and all stakeholders for their openness, collaboration, and constructive engagement throughout the review process.