Thailand
Laos: ADB and World Bank Assistance Push GDP Growth at 7%
(KPL) Asian Development Bank (ADB) and World Bank (WB)’s financial support and technical assistance to Laos are considered as the key drivers and crucial contributions to stabilize the GDP growth at 7% in 2017, Vice Minister of Planning and Investment, Mr Kikeo Chanthabourly.
Representatives of Lao Government, Asian Development Bank and World Bank met in Vientiane Capital on November 30 to discuss and review the implantation plans for 2016-2017.
The continuous support and cooperation of the ADB and the World Bank on both financial and technical supports the Government of Lao PDR acknowledges the ADB’s and the WB’s official development assistance in contributing to the economic growth, particularly through 28 loan and grant aid projects and 10 technical assistance support by ADB with the total amount of $759.58 million and the World Bank’s ODA to Laos is 18 projects with the total amount of about $503.35 million.
These projects are considered as the key drivers and crucial contributions to the poverty family’s incidence has been reduced to 5,580 families of the total families in the country, said Mr Kikeo.
Most of economic and social indicators have been achieved and improved greatly and most importantly, the livelihoods of multi-ethnic people in the Lao PDR have been gradually improved people have access to improved social and economic infrastructure and better public services delivery.
The objective of the Joint Country Portfolio Review (JCPR) is to identity issue and potential solution to improve portfolio performance based on challenges and issue identified by the government and ADB, WB. The key output of the JCPR exercise includes this JCPR Background paper, joint Action Plan and MOU that set agreed action to improve portfolio performance in 2018.
The meeting discussed the key issue identified can be viewed into two broad categories, first, the issue that effect the progress of disbursement plans such as project management, financial management, interpretation and application of tax regulations and requirements, procurement, gender and safeguards requirement, organizational capacity and staff turnover.
Second, the issue that effect the achievement of the project objectives such as M&E, development impact, institutional capacity, performance and knowledge transfer, Mr Kikeo continued.
ADB’s Lao PDR Country Partnership Strategy (CPS) for 2017-2020 was approved on 20 September, to support the government of Lao PDR to implement the Eight Socio-Economic Development Plan together with other development partners, the Country Director of ADB to Lao PDR, Mr Negishi Yasushi.
Use under CPS, ADB assistance will focus in three strategic priorities: infrastructure and private sector development to support employment and income generation, enhanced human development, sustainable natural resource management and climate resilience, with gender equality and governance as cross cutting themes.
The Joint Country Portfolio Review provides a constructive platform to discuss issue that hinder portfolio performance and this year ‘s review highlight procurement, financial management, M&E and institutional capacity as across cutting issues. The forum also creates opportunities to share lesson on good practices that enable projects and program achieve their intend outcomes.
Source: http://kpl.gov.la/En/Detail.aspx?id=30104