Manila based The Asian Development Bank (ADB) signed three loan agreements worth $140 million with the Government of the Lao Peoples Democratic Republic (Lao PDR) to develop the countrys agriculture, education, and public finance management.
Details provided below:
- The loan will help increase the provinces agricultural productivity, including using appropriate technologies; boosting rural connectivity and climate resilience
- Strengthening irrigation system, rural roads, and nutrition condition will improve the productivity of farms, access to market, and the living standards of people, said ADB Country Director for the Lao PDR Mr. Negishi. Providing support to education will help the country to supply readily employable graduates and reap the benefits of a demographic bonus. Support to public finance reforms will also help reduce the countrys vulnerability to economic shocks, maintain inclusive economic growth, and secure budget for social sector.