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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Additional financing for Lao Road Sector Project Approved by World Bank Board WASHINGTON D.C., JULY 26 2012 – The World Bank Board of Executive Directors today approved US$21 million in additional grant... Show More + financing for the Lao Road Sector Project. The grant builds on the excellent progress of the original grant of US$27.8 million, which was approved in 2010.The newly approved financing augments the Bank’s support for the program which aimed at improving road services on two main national corridors and the provincial road network. The Lao Road Sector Project also works on rehabilitation of the roads damaged by Typhoon Ketsana and the establishment of a contingency fund for quick disaster response in the road sector in Lao PDR. “The additional financing grant is timely. It will support the scaling up of programs to advance road services in Laos and focus on increasingly important work on rehabilitation of roads damaged by natural disasters,” said Sombath Southivong, World Bank Team Le Show Less -
Vientiane, July 14, 2011 – The Vice Minister of Finance of Lao People’s Democratic Republic, H.E. Dr. Viengthong Siphandone and the World Bank Country Director for Lao PDR, Ms Annette Dixon, signed today... Show More + three grants totalling over US$50 million to further support the Government’s efforts in sustaining an effective poverty reduction strategy.Specifically, the newly signed grants include:A US$10 million grant for the Seventh Poverty Reduction Support Operation (PRSO-7) aimed at sustaining economic growth through improvement of the investment climate and facilitating trade and management of natural resources;A US$25 million grant from International Development Association for the Second Poverty Reduction Project (PRF II), which will be channelled to reduce poverty in rural Lao PDR. Over 2,500 villages in 38 districts and 10 provinces of Lao PDR are expected to benefit during the implementation of the PRF II;A AUD$20.26 million for the Education for All - Fast Track Initiative Program (EF Show Less -