World Bank to provide Laos with US$395 million funding support: Report
05 May 2022 02:13pm
The funding is for three areas, including promoting green growth, investment in human resource development, and environmental protection.
VIENTIANE - The World Bank expects to support 11 projects in Laos at a cost of about US$395 million from 2022 to 2026, Xinhua quoted the Vientiane Times report on Thursday.
Collaboration between Laos and the World Bank will focus on three areas, including promoting green growth, investment in human resource development, and environmental protection.
A report on funding was presented on Tuesday when the World Bank Group's Country Director for Myanmar, Cambodia and Laos, Mariam Sherman, began her first visit to Laos, meeting Lao Minister of Planning and Investment Khamjane Vongphosy to discuss areas of cooperation.
"Thank you to the World Bank for its continuing support and assistance, especially for the implementation of the government's socio-economic development plans which are closely linked to the strategic cooperation plan formulated between the government and the World Bank for 2017-2021, with the plan to continue for the period 2022-2026," Khamjane said.
The strategic cooperation plan for 2017-2021 deepened health, infrastructure, education work, environmentally-friendly agricultural work, environmental work and social work, as well as benefitting small and medium enterprise development, and management and administration of the state budget, he added. - Bernama
