Vientiane, June 23, 2014 – The groundbreaking ceremony for the new World Bank Group office building took place today, attended by Vice Minister of Finance of the Lao PDR, Mme. Thipphakone Chanthavongsa, and the World Bank’s Vice President for the East Asia and Pacific Region, Axel van Trotsenburg.
The new office facility is set to be built in Xieng Ngeun Village, Chanthabouly District in Vientiane, Lao PDR and will house about 100 World Bank Group staff. The three-story Lao-inspired facility will feature green concept in its design using solar energy system, rainwater harvesting, natural day lighting, sewage treatment plant and use of sustainable materials. The premise will also feature the preservation of archeological findings for public viewing. The construction will be completed in early 2016 and will bring under the same roof all World Bank Group entities operating in Lao PDR, including IFC. The project of a new landmark building in Vientiane is the testament of the World Bank Group’s long term commitment for a strong development partnership with the Government and the people of Lao PDR.
Lao PDR became the member of the World Bank over 50 years ago and the member of IFC in 1998. The World Bank inaugurated its first office in the current location near Patou Xay in 1999. The partnership between the Government of Lao PDR and the World Bank Group has evolved and strengthened over the decades. With the mission to reduce poverty and promote shared prosperity, the World Bank has provided financing of over $1.4 billion in grants and interest-free credits, analytical work and policy advice on key development issues in Lao PDR.