Lao People's Democratic Republic and ADB
In the Spotlight
Developing Asia remains the fastest growing region globally despite slower-than-expected growth in major industrial countries as key economies move ahead with structural reforms, says a new ADB report. Read about the economic outlook for Lao PDR.
ADB is supporting the 290-megawatt Nam Ngiep 1 hydropower project in the Lao People’s Democratic Republic under a public-private partnership arrangement.
Food insecurity and economic vulnerability should be included in a broader definition of poverty that could help policymakers develop more effective approaches, says new ADB report.
ASEAN countries plan to launch a single market for goods, services, capital and labor, potentially one of the largest economies and markets in the world.
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.