(KPL) The Lao government and the Asian Development Bank (ADB) signed agreements on December 12 for loans and grants totalling $150 million. The funding will support four development projects aimed at advancing socio-economic progress in Laos.

The agreements were signed by the Deputy Minister of Finance, Mr. Phouvong Kittavong, representing the Lao government, and ADB’s Country Director for Laos, Ms. Shanny Campbell. In total, 16 documents were formalized during the ceremony.

At the signing ceremony, Mr. Phouvong underscored the importance of the projects in fostering development across various sectors and urged stakeholders to ensure effective use of the funds.

“I encourage everyone involved in implementing these projects to apply their expertise and ensure the loans and grants are utilized effectively to drive socio-economic development,” he said.

Ms. Campbell reiterated ADB’s commitment to supporting Laos and highlighted the significance of the initiatives.

“Access to safe, piped water remains a challenge in Laos, impacting health and livelihoods. This project will play a vital role in improving equitable access to water and sanitation services,” she said, referencing one of the key projects.

The four approved projects aim to tackle pressing challenges in Laos such as Building Resilience and Reducing Rural Poverty Project.

This project will enhance food security, improve nutrition, empower women, and boost climate resilience for vulnerable households.

Greater Mekong Sub-region Cross-Border Livestock Health and Value Chains Improvement Project, aimed at improving livestock health and value chain infrastructure, this initiative will strengthen policies for livestock trade and safety.

Water Supply and Sanitation Improvement Sector Project focused on expanding access to water and sanitation services, the project will rehabilitate water systems and provide latrines to vulnerable households. Gender-inclusive solutions are a key focus.

KPL