The Bank of the Lao reported that its delegation took part in the 29th ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting and the 59th Annual Meeting of the Asian Development Bank Board of Governors in Samarkand, Uzbekistan. The main finance and central banking discussions covered regional and global macroeconomic conditions, policy coordination and deeper regional financial cooperation, with cross border payment connectivity featuring as a specific area of focus. Within the ASEAN+3 meeting, participants reviewed priority work including the Chiang Mai Initiative, the ASEAN+3 Macroeconomic Research Office, Asian bond market development, disaster risk financing and future ASEAN+3 initiatives, particularly digital cross border payments and a central bank dialogue on cross border payment connectivity. At the Asian Development Bank meeting, held under the theme Crossroads of Progress: Advancing the Region's Connected Future, discussions relevant to finance and banking centered on three priorities. These were connectivity for development, including cross border payment infrastructure, energy systems and trade, data for development, including digital technology and data driven solutions, and mobilizing finance for development through private investment, domestic resource mobilization and broader development finance. The Bank of the Lao said participants agreed to continue implementing ASEAN+3 priority work plans aimed at strengthening regional financial cooperation and crisis prevention arrangements. Asian Development Bank President Masato Kanda also outlined plans to increase investment and accelerate reforms to improve connectivity across infrastructure, markets and institutions in Asia and the Pacific.
Bank of the Lao 2026-05-06
Bank of the Lao reports participation in ASEAN+3 and Asian Development Bank meetings focused on cross border payments and regional financial cooperation
The Bank of the Lao reported on its participation in the 29th ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting and the 59th Asian Development Bank Annual Meeting, where discussions focused on regional macroeconomic conditions, policy coordination and deeper financial cooperation, including cross-border payment connectivity. ASEAN+3 participants reviewed work on the Chiang Mai Initiative, the ASEAN+3 Macroeconomic Research Office, Asian bond market development, disaster risk financing and future digital cross-border payments, agreeing to continue implementing plans to strengthen regional financial cooperation and crisis prevention. At the ADB meeting, discussions emphasized connectivity, data and mobilizing finance for development, with President Masato Kanda outlining plans to increase investment and accelerate reforms to improve connectivity across infrastructure, markets and institutions in Asia and the Pacific.