The Microfinance Center Lao (MFC) and the Lao Revolutionary Youth Union (LYU) jointly organize a 2 day introduction to job opportunities in the Microfinance sector of the Lao PDR for 80 graduates of secondary and vocational schools. The Microfinance introduction days take place on 18 and 19 November in Vientiane, at the LYU training center. The days are supported by the German Savings Bank Foundation (SBFIC), a foundation supporting the development of the Microfinance sector in many countries, including Vietnam and the Lao PDR.

Currently in the Lao PDR the Microfinance sector is growing rapidly and consequently there is a large need for qualified staff. As also the banking sector is growing rapidly, some well educated and experienced staff leave the Microfinance sector to find employment in the banking sector. The Microfinance sector in the Lao PDR, which has the objective to create access to financials services for the poor, is hampered in its development because of this, while at the same time many young Lao secondary and vocational school graduates are looking for a job. The introduction days have the objective to give the young graduates the opportunity to see if they would be interested in starting work in the Microfinance sector and for those that are interested to connect them to Microfinance institutions that are looking for new staff.

The days will have a mix of basic Microfinance theory and practice. Actual staff of various Microfinance institutions will show what their daily work looks like, what qualities you need to be able to do the work well and will answer questions of the graduates. The various positions often found in Microfinance institutions (MFIs) include credit-officers, tellers, administrative-assistants, accountants and branch-managers. It will be explained that the different positions require different skills and different personality characteristics. Professional trainers will explain the basic principles and practice of work in a Microfinance institution. On the afternoon of the second day, an informal job fair will be held to conclude the introduction days, where graduates can meet with various MFIs in an enjoyable setting, with a soft-drink and a snack, ask questions to MFI staff and apply for a job interview.

During conversation on this new idea of the Microfinance introduction days between LYU, MFC and SBFIC it was found that the objectives of all three matched. For the LYU, helping to find and create jobs for the Lao Youth, the group of 2.7 million Lao people in the age between 15 and 35 is an important objective. For MFC and SBFIC, supporting the development of the Lao PDR Microfinance sector by building the capacity of young Lao is central. The joint activity of LYU, MFC and SBFIC aim to support achieving the targets set by the Lao People’s Revolutionary People’s part and the Lao government for social-economic development and poverty reduction. If the introduction days are a success, the intention exists to organize a follow up event in the future.