VIENTIANE, OCTOBER 13, 2016 – A meeting led by the Government of the Lao People’s Democratic Republic (Lao PDR) reviewed the implementation performance of projects and programs financed by the Asian Development Bank (ADB) and the World Bank Group. Project implementation challenges were discussed, and measures agreed to streamline processes and improve performance and effectiveness.
The Joint Country Portfolio Review Meeting was led by Ministry of Planning and Investment, with active participation from the government’s key implementing agencies.
“Through the 8th National Socio-Economic Development Plan, Lao PDR has focused on maintaining high economic growth that benefits all people and in continuing to reduce poverty,” said H.E. Dr. Kikeo Chanthaboury, Vice Minister for Planning and Investment. “We welcome the work of our international partners to improve and enhance the assistance they provide to help the people of Lao PDR.”
With a combined active portfolio of approximately $1.2 billion as of June 2016, ADB and World Bank Group operations in Lao PDR include projects to benefit agriculture and rural development, education, transport, industry and trade, environment, and municipal infrastructure. The size of this combined portfolio underscores the importance of collaborative initiatives like today’s Portfolio Review to improve implementation performance and yield greater development results in the country.
“We appreciate the active participation of all stakeholders in the annual Joint Country Portfolio Review. ADB values cooperation with the Government and World Bank Group to improve portfolio performance and ensure we remain relevant, responsive and results-oriented development partners,” said Steven Schipani, ADB Lao PDR Resident Mission Senior Portfolio Management Specialist.
Focusing on overall development progress, participants from the line Ministries discussed implementation challenges, and also identified methods and new ideas for improving and sharing good practices of project start-up and implementation, procurement, financial management and taxation, and monitoring and evaluation.
“The Joint Country Portfolio Review Meeting is a useful platform to identify joint actions to address bottlenecks and to improve the effectiveness of both World Bank Group and ADB financed projects, which ultimately will contribute to the government’s achievement of the anticipated outcomes of the 8th National Socio-Economic Development Plan,” said Evgenij Najdov, the Acting World Bank Country Manager in Lao PDR.
The JCPR meeting is an annual event led by the Ministry of Planning and Investment and jointly organized by the ADB and the World Bank Group. The JCPR aims to help strengthen portfolio performance in Lao PDR and enhance ownership of the projects by the implementing agencies. It also aims to improve the dialogue between the government and its development partners.
