The Asian Development Bank says it is committed to closer cooperation with the government of the Lao PDR and plans to lend 110 million dollars to Laos to fund a variety of development programs for the years 2007-2009, including strengthening cooperation among GMS nations, including strengthening cooperation among GMS nations.
The loan will be divided into three parts - 60 million dollars to help Laos develop its internal management program and strengthening its financial and banking system, 40 million dollars to help develop closer cooperation among GMS nations, and 10 million dollars for tecnical and professional assistance to help Laos in its poverty eradication efforts for the next two year.
The Asian Development Bank, in collaboration with the government of Luxembourg, will also assist Laos in improve its legal and judicial systems to international standards.
For the past 30 years, ADB has provided loans worth over 1,183 million dollars to Laos to fund 64 development programs. Of that amount, Laos still owes ADB over 780 million dollars.
Listen to our Laos Today program for more details.