Over half a century ago, Lao PDR began its journey to become a modern nation and committed itself to long-term development ambitions. It has delivered electricity, schools, roads, and has become an important energy exporter.
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A decade ago, the international community came together with a commitment to help Lao PDR – one of the world’s poorest countries – develop a better kind of hydropower project, one that generates power... Show More + and also helps reduce poverty and improve health and education.As a small, landlocked and historically poor country in Southeast Asia, Lao PDR needed investment and revenue to finance growth and poverty reduction efforts. Next door, Thailand’s rapidly growing middle-income economy urgently required additional sources of electricity. After careful analysis of the technical, economic, environmental and social dimensions following years of extensive and broad-based consultations, 27 development partners and financing parties, including the World Bank Group and Asian Development Bank, endorsed Lao PDR’s Nam Theun 2 (NT2) hydropower project in March 2005. Done properly, hydropower offers affordable and reliable access to electricity, which is essential for economic growth, po Show Less -
VIENTIANE, 4 May 2015 – Primary schools in Lao PDR will receive new funding to support a new method for teaching reading for Laotian children, the World Bank announced today. The use of Early Grade Reading... Show More + Assessments (EGRA), a globally tested approach for teaching children how to read in early grades, is expected to improve the quality of pre-primary and primary education. The Second Global Partnership for Education project will be financed with a US$16.8 million, four-year grant for Laos’ schools from the Global Partnership for Education, a multilateral partnership promoting a quality education for all children in the world's poorest countries. Around one million pre-primary and primary students will benefit from the new approach to teaching reading under the project. In addition, almost 9,000 principals or heads of incomplete schools (those which do not offer five grades of primary education), alongside 1,000 provincial and district education staff, as well as 8,900 Villa Show Less -
WASHINGTON D.C., April 29, 2015 – The World Bank Group’s Board of Executive Directors today approved additional funding of US$15 million from the International Development Association for Lao PDR’s Second... Show More + Lao Environment and Social Project (LENS2), previously called the Protected Area and Wildlife (PAW) project. This US$15 million in additional funding supplements the US$23.7 million already provided in April 2014. The LENS2 project aims to strengthen overall government capacity in environmental assessment management, while continuing to improve the management of National Protected Areas and reduce the trade in illegal wildlife in eight provinces.“Further improving environmental protection is a priority for Laos,” said Sally Burningham, the World Bank’s Country Manager for Lao PDR. “We are very pleased to support efforts to strengthen the country’s environmental protection management systems.”Under LENS2, government departments or agencies and local non-profit associations are enc Show Less -
Vientiane, April 28, 2015— The Lao PDR economy continued its robust expansion with growth around 7.5 percent in 2014, with domestic demand fueled by robust activity in construction, forestry and services,... Show More + according to the World Bank’s latest Lao PDR Economic Monitor. The report also identifies policies Lao PDR can adopt to benefit from increased regional integration through the coming ASEAN Economic Community (AEC), and highlights the importance of creating productive jobs to drive inclusive growth.The report notes that Laos’ continued economic growth takes place in a macroeconomic environment which is gradually improving but remains fragile. While investment in the power sector is expected to remain strong, overall GDP growth is projected to slow to about 6.4 percent in 2015 due to a flat output in mining, efforts to reduce the fiscal deficit and a slowdown in credit growth. Given existing macroeconomic vulnerabilities, a moderate temporary deceleration of economic growth associated w Show Less -
Key FindingsGrowth is projected to slow to about 6.4% in 2015 from 7.5% in 2014. Investment in the power sector continues to be strong, but is partly offset by flat output in mining, efforts to reduce... Show More + the fiscal deficit, and slowdown in credit growth.The adoption of expansionary economic policies in the past few years has resulted in macroeconomic vulnerabilities. Policy corrections, such as fiscal consolidation and slower credit growth, are expected to help restore macroeconomic stability.Inflation is projected to average 4-5% in 2015. Inflation decelerated in 2014 driven by slower growth in food prices and a decline in fuel prices. On average, food prices were 7% higher in 2014 compared to 2013. Fuel prices fell by an additional 0.8% in 2014.The fiscal deficit is expected to decline slightly to 4.2% in the fiscal year 2014/15 due to controls on spending, and will be supported by lower public service recruitment and a wage freeze for civil servants. Foreign exchange reserves incr Show Less -