On August 31, 2023, Lao Development Bank (LDB), CAIBA's member since 2010, represented by Mr. Phonemany Sisomphong, Director of Treasury-International Banking, LDB Bank, joined the 13th Annual Meeting of China-ASEAN Inter-Bank Association (CAIBA) and the 2020 Meeting of ASEAN +3 (China, Japan and Korea) Inter-bank Cooperation Mechanism (APTIBCM) in Bali, Indonesia.

The Meetings were attended by various banks from ASEAN members, China, Japan and South Korea; including Indonesian Government Sectors namely: Investment Promotion Department, Ministry of Investment, Financial Services Authority, Minister Counsellor as well as China’s Ambassador to ASEAN and nearly 70 leaders and bank experts from the member banks of CAIBA and APTIBCM.

The year of 2023 marks the 13th Anniversary of the establishment of CAIBA & ASEAN Plus Three Interbank Cooperation Mechanism (APTIBCM) Meeting 2023, which was co-hosted by Mandiri Bank, Indonesia and China Development Bank (CDB), aims to support APTIBCM and CAIBA member bank’s comprehensive strategic partnership. The key agenda is about exchange meaningful insight and experiences on:

1. Actively supporting the principles of CAIBA partnership and ASEAN Plus Three Framework

2. Facilitating and promoting the communication, connection and synergy among the development plans and initiatives of key cooperation plans and other mutually recognized projects, as well as providing financing support as needed

3. Enhancing green and sustainable development cooperation and explore areas of cooperation on sustainable development.

Under the themes, the guests and representatives from member banks and observer banks of CAIBA and APTIBCM discussed the major issues of the finance and banking industry in the current period based on the mentioned topics, particularly enhancing green and sustainable development cooperation.

Concluding the Meetings with the handover ceremony, Mandiri Bank and China Development Bank transferred the co-hosting role for the coming year 2024 CAIBA's Executive Board Meeting to Lao Development Bank (LDB) and the event will take place in LAO PDR.

ldb