Lao People's Democratic Republic and ADB
In the Spotlight
Completion of the last overland link in the North-South Economic Corridor brings prosperity to poor provinces in the Lao People's Democratic Republic, a landlocked country that lies at the heart of the Greater Mekong Subregion.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
A modern highway and bridge connecting three countries in the Greater Mekong Subregion are reviving an ancient trade route and bringing new life to local communities.
ADB is supporting the 290-megawatt Nam Ngiep 1 hydropower project in the Lao People’s Democratic Republic under a public-private partnership arrangement.
Mining, hydropower development, and private consumption spending continue to underpin economic growth in the Lao People's Democratic Republic. However, this economic transformation poses challenges for the country. Continued structural transformation and economic diversification is needed to expand opportunities, provide jobs for a young population, and enable inclusive growth. At the same time, high economic growth brings with it the demand for improved good governance and natural resource and environmental management.
ADB assistance has focused on responding to the Lao PDR’s changing development priorities, from an early emphasis on agriculture in the 1980s, to roads and transportation in the 1900s, and education, energy, and regional integration in the 2000s.
6.66(2013) Population in millions
2.2%(2008-2013) Average annual population growth rate
26%(2010) Population living below the national poverty line