Luxembourg extends support for Lao development projects

The Government of the Grand Duchy of Luxembourg has agreed to continue funding of more than 11.7 million euros to implement development projects in Laos.
Luxembourg yesterday signed three agreements with the Ministry of Planning and Investment to carry on support for Laos in attaining its socio-economic development targets.

The funding agreement was signed by Luxembourg Minister for Development Cooperation and Humanitarian Affairs and Consumer Protection, Ms Paulette Lenert, and Lao Minister of Planning and Investment, Mr Souphanh Keomixay.
Financial assistance of 1.3 million euros will be distributed for the Strengthening the Effectiveness of Official Development Assistance project from 2019-2022.
Some 6.99 million euros will continue to support the implementation of the Rural Development and Poverty Reduction Strategy, and a total of 3.5 million euros will be disbursed for the Health Sector Support Programme.
The funding agreement signing ceremony was conducted under the 12th Bilateral Partnership Commission Meeting between the Government of the Lao PDR and Government of Luxembourg in Vientiane.
The meeting aimed to review the implementation of the two countries’ development cooperation projects during 2018-2019 as well as forward plans for the 4th Indicative Cooperation Programme (ICP) of 2016-2020.
The two partners also discussed the implementation of the Eighth National Socio-Economic Development Plan 2016-2020, and Laos’ graduation from least developed country status by 2024.
Laos and Luxembourg established diplomatic relations on September 25, 1997.
Luxembourg has assisted Laos in priority sectors such as education, health, tourism, UXO clearance, hospitality and services, finance and banking, and rural and infrastructure development. The Luxembourg assistance to Laos is part of the overall ICP being implemented over four phases, with a total value of 178 million euros.
The first ICP phase was implemented from 2003 to 2006 valued at 18 million euros, the second from 2007 to 2010 at 35 million euros, the third from 2011 to 2015 at 50 million euros, and the fourth ICP began in 2016 and will finish next year valued at 75 million euros.

By Times Reporters
(Latest Update September 12, 2019)