Upon registering and submitting an application on our website, an appointment will be arranged for one of our Business Advisors to meet you. The aim of the first meeting is to assess whether BAF II can help your business. If the answer is yes, we will agree on next steps.
If necessary, the Business Advisor will assist you to prepare a basic growth plan for the company, including a simple SWOT analysis. Based on this analysis, it will be possible to identify whether the company would benefit from specific and tailored technical assistance. (If the company already has a good growth plan, and knows what technical assistance it needs to grow, it may be possible to skip this step.)
If needed, the Business Advisor can help you in identifying a business service provider that can deliver the technical assistance needed, and to collect cost estimates for this work, in line with current market rates. If the kind of technical expertise needed is not available in Lao PDR, BAF II is open to support hiring service providers located outside of the country, such as Thailand, Vietnam or Singapore.
If the company and BAF II are both willing to proceed, a scope of work will be agreed, and a (legally binding) letter of agreement will be prepared and submitted for formal approval. The agreement will clearly set out the terms and conditions of the BAF II grant.
The specific and tailored technical assistance will then proceed, in conformity with the letter of agreement. If necessary, the Business Advisor will monitor progress, and serve as a point of contact if any problems arise during implementation.
Once the technical assistance has been completed, BAF II will check to see whether it has been done in conformity with the letter of agreement, and that all the necessary evidence of expenditures have been submitted. If yes, BAF II will then disburse the agreed sum of matching grant funds to the company.
BAF II pays the matching grant only at the proven completion of the technical assistance, and no advance payments or installments can be provided. The company must therefore be able to initially pay for the technical assistance provided in full, prior to BAF II reimbursing 50% of the costs, up to the amount agreed in the letter of agreement.