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, 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, June 3, 2014 - The World Bank’s Board of Executive Directors today approved the following project: Lao PDR - Technical Assistance for Capacity Building in the Hydropower and Mining... Show More + Sectors Project - Additional Financing IDA Grant: US $8.9 million equivalent IDA Credit: US $8.9 million equivalentTerms: Maturity = 40 years, Grace = 10 yearsProject ID: P148755Project Description: The objective of the project is to increase human capacity and improve the performance of government oversight institutions for the hydropower and mining sectors.For more information, please visit here: http://www.worldbank.org/en/country/lao Show Less -
WASHINGTON, June 3, 2014 – The World Bank’s Board of Executive Directors today approved a US$8.9 million grant and a US$8.9 million credit in additional financing from the International Development Association... Show More + (IDA) for the Technical Assistance for Capacity Building in the Hydropower and Mining Sectors Project in Lao PDR.The newly approved financing will complement the World Bank’s ongoing support to the hydropower and mining sectors which are core drivers of growth for the Lao economy, together accounting for over 21 percent of government revenue in 2013. This Project aims to improve human resource capacity and the performance of government oversight institutions in both the hydropower and mining sectors.The project has already put in place important building blocks for the effective management of hydropower and mining development, and has supported the development of policies, regulations and guidelines for better governance of the two sectors. The project has assisted in strengtheni Show Less -
WASHINGTON, October 10, 2013 – The Government of Lao PDR and the World Bank signed today a financing agreement of US$ 20 million for Ninth Poverty Reduction Support Operation (PRSO 9). The agreement was... Show More + signed by H.E. Mr. Phouphet Khamphounvong, Minister of Finance of the Lao PDR and Mr. Ulrich Zachau, Country Director for the World Bank to Southeast Asia. The signing took place at the World Bank Group office in Washington DC, where a high level Lao delegation travelled to participate in the 2013 Annual Meetings of the World Bank Group and International Monetary Fund.PRSO 9 supports policies and institutional reforms that will enable more sustainable management of increasing revenues from the natural resource sectors to deliver improved public services in Lao PDR. This objective supports the Government’s priorities outlined in the 7th National Socio-Economic Development Plan.“Our program, which PRSO supports, focuses on policy areas critical for Lao PDR’s development. The p Show Less -