(Illustrative photo: ADB)
The Asian Development Bank (ADB) has launched a new business plan which includes funding arrangements to support development in Laos over the next few years.
According to the ADB Country Operations Business Plan for 2020-2022, the ADB has indicative concessional loans of 322 million USD available for Laos to finance development projects from now until 2022, reported Vientiane Times.
The ADB’s business plan for Laos will focus on inclusive and sustainable development in line with the operational priorities of ADB’s Strategy 2030. This aims to make Lao cities more liveable by easing infrastructure constraints and providing urban services.
The financial institution also wants to finance the improvement of human capital to reduce inequality in access to opportunities, together with the creation of quality jobs, enhancing rural development and food security, and providing climate and disaster-resilient infrastructure./.