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Laos, ADB discuss new partnership strategy

Officials of the Lao government and the Asian Development Bank (ADB) met in the capital city of Vientiane on February 22 to discuss a new partnership strategy for the 2012-2016 period.
Officials of the Lao government and theAsian Development Bank (ADB) met in the capital city of Vientiane onFebruary 22 to discuss a new partnership strategy for the 2012-2016period.

At the meeting, the ADB pledged to providemore assistance to Laos in many fields, as it has done in previousyears, but it will also directly support the implementation of thecountry’s seventh five-year socio-economic development plan.

The officials touched upon a number of major challenges Laos is facingin national development, as well as measures the nation should adopt inthe years to come.

The new strategy will be approved by the ADB leadership by the end of2011 after the Lao government’s five-year socio-economic developmentplan is ratified by the Lao National Assembly.

The ADB is Laos ’s leading development partner. Over the past fiveyears, the bank has provided around 475 million USD in officialdevelopment assistance capital for the country.

Currently, the ADB is funding 45 projects in Laos to the tune of 345million USD and has approved four loans totalling 59.8 million USD./.
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