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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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 -
WASHINGTON, September 30, 2013 – The World Bank’s Board of Executive Directors today approved US$20 million in financing for Lao PDR’s Ninth Poverty Reduction Support Operation (PRSO 9). This program... Show More + will support policy and institutional reforms that enable the sustainable management of revenues from the natural resources sector to deliver improved public services. Since 2004, eight annual PRSOs – with total disbursements of US$108 million – have already helped the Government’s reform efforts to foster economic growth, reduce poverty, and address challenges in human development and vulnerabilities. In particular, PRSO support has helped implement more transparent rules for trade and investment, develop a stronger framework for the regulation and taxation of natural resources, strengthen public revenue management, and improve sector planning in the health and education sectors.PRSO 9, which supports the Government’s priorities as outlined in the National Socio-Economic Development Show Less -
VIENTIANE, June 7, 2013 – The World Bank’s Vice President for East Asia and the Pacific, Axel van Trotsenburg, commended Lao PDR for its steady economic growth and success in overcoming poverty as he concluded... Show More + a three day official visit to the country.“We have worked well together over the decades and the testimony of this cooperation is the sustained reduction of poverty headcount. In less than a generation, the incidence of poverty in Lao PDR has gone from almost half the population to just over a quarter”, said Axel van Trotsenburg, World Bank Vice President for East Asia and the Pacific. “This is a solid basis to build a program for the future focused on further reducing poverty and making a real impact on improving people’s lives.”Mr. van Trotsenburg met senior officials including Prime Minister HE Thongsing Thammavong. Mr. van Trotsenburg highlighted the Government’s reform agenda, outlined in the 7th National Social Economic Development Plan, which has the goal of graduating Lao Show Less -