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.
Read More »
Vientiane, August 14, 2014 – The Government of Lao PDR and the World Bank Group today signed two agreements for the new World Bank Group financing of more than USD40 million.The new support for the Small... Show More + and Medium Enterprise Access to Finance Project includes a USD10 million grant and a USD10 million credit from the International Development Association, and at least USD4 million from the International Finance Corporation in risk sharing funds. The project will provide long term credit to small firms and help them to grow and create more jobs.“The ceremony today reaffirms the commitment and cooperation between the Government of Lao PDR and the World Bank in supporting Government priorities as outlined in our National Socio-Economic Development Plan. SMEs, hydropower and mining sectors form an important part of the Lao economy. The two projects will contribute to the socioeconomic development and environmental sustainability of Lao PDR”, said H.E. Mme. Thipphakone Chanthavongsa, Vice M Show Less -
Washington, D.C., October 23, 2012—Local entrepreneurs in developing countries are finding it easier to do business than at any time in the last 10 years, highlighting the significant progress that has... Show More + been made in improving business regulatory practices across the globe, according to a new report released today by the World Bank and IFC.The report, Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises, marks the 10th edition of the Doing Business series. Over the past decade, these reports have recorded nearly 2,000 regulatory reforms implemented by 180 economies. The reforms have yielded major benefits for local entrepreneurs across the globe. For example:Since 2005, the average time to start a business has fallen from 50 days to 30—and in low-income economies the average has been reduced by half.In the past eight years, the average time to transfer property fell by 35 days, from 90 to 55, and the average cost by 1.2 percentage points—from 7.1 percent of the Show Less -
WASHINGTON, Oct. 23, 2012–Most economies are recovering from the sharp drops in new firm registration triggered by the 2008 global financial crisis—an improvement that may have been bolstered by government... Show More + reforms, according to new World Bank data released today. In 2011, more than 60 percent of the world’s economies saw a faster pace of new firm registration than in the year before. That is almost double the 2009 rate of 34 percent, although it still lags behind the 2007 rate of 75 percent, according to the World Bank Group Entrepreneurship Database, which is updated every two years.Reforms that significantly reduce the time, cost, days and number of steps required to start a business—generally over a 50 percent reduction in any given measure recorded by the World Bank Group’s Doing Business series—have a real and sustainable impact on new firm registration, according to an analysis by economists in the World Bank’s Development Research Group.For example, Rwanda registered 4,500 new f Show Less -