The Deputy Minister of Finance, Mr Phouvong Kittavong, and the ADB Country Director for Laos, Ms Shanny Campbell, shake hands after signing the loan and grant agreements on December 12.

Lao govt, ADB sign US$150 million loan and grant agreements for four projects

The Asian Development Bank (ADB) and the Lao government signed agreements for loans and grants worth US$150 million on December 12 to finance four development projects aimed at boosting socio-economic progress in the country.
The agreements were signed by the Deputy Minister of Finance, Mr Phouvong Kittavong, on behalf of the Lao government, and the ADB Country Director for Laos, Ms Shanny Campbell. A total of 16 documents were signed by the two sides.
Speaking at the ceremony for signing the agreements, Mr Phouvong highlighted the significance of the projects, which are set to enhance development across multiple sectors. He called on stakeholders to ensure the effective use of the funds.
“I encourage all involved in the implementation of the projects to apply their expertise and ensure these loans and grants are used effectively to drive socio-economic development,” he said.
Ms Campbell emphasised ADB’s commitment to supporting Laos and cited the importance of the projects.
“Access to safe, piped water supply remains a challenge in Laos, affecting health and livelihoods. The project will contribute significantly to improving equitable access to water and sanitation services,” she said, referring to one of the four projects.
The Building Resilience and Reducing Rural Poverty Project, will improve food security, nutrition, gender empowerment, and climate resilience for vulnerable households.
The Greater Mekong Subregion Cross-Border Livestock Health and Value Chains Improvement Project will enhance livestock health and value chain infrastructure, and improve policies for livestock trade and safety.
The Water Supply and Sanitation Improvement Sector Project will improve access to water and sanitation services, rehabilitate water systems, and provide latrines to vulnerable households, with the focus on gender-inclusive solutions.
The Domestic Resource Mobilisation Modernisation Project is designed to optimise revenue collection through digital solutions such as e-invoicing, and enhance tax administration by building the capacity of tax officials.
These four projects collectively aim to address critical challenges in Laos, from rural poverty and public health to revenue generation, reflecting the strong partnership between the ADB and the Lao government.

By Bounfaeng Phaymanivong
 (Latest Update December 16, 2024)