MANILA, PHILIPPINES (21 March 2024) — The Asian Development Bank (ADB) has launched a new country partnership strategy for the Lao People’s Democratic Republic (Lao PDR), covering the period 2024–2028. The strategy aims to lay the foundation for a more inclusive, sustainable, and resilient economy in the Lao PDR.

Under the new 5-year strategy, ADB will closely collaborate with the Lao PDR government to promote sustainable public finance, enhance equitable access to services, and advance climate actions. The strategy is bolstered by crosscutting themes such as gender equality, improved governance and institutional capacity, stronger climate and disaster resilience, and more regional cooperation and integration.

“ADB’s new country partnership strategy with the Lao PDR is testament to our unwavering commitment to the country’s progress,” said ADB Vice-President for East and Southeast Asia, and the Pacific Scott Morris. “In collaboration with the government, our strategy is designed to help the Lao PDR navigate economic and financial challenges to build a more inclusive and sustainable future, emphasizing the importance of macroeconomic stability, enhanced service delivery, and climate resilience as pillars of our cooperation.”

The strategy introduces comprehensive measures to promote sustainable public finance, leveraging a mix of concessional lending, grants, technical assistance, and knowledge products. These efforts aim to reinforce the government’s capabilities in debt management, state-owned enterprise reform, and governance of public finances, thereby ensuring the effective and accountable use of public funds.

In advancing the Lao PDR’s climate commitments, the strategy will provide significant investment and knowledge support across key sectors such as agriculture, natural resource management, pollution and waste management, and disaster risk management. Emphasizing the importance of renewable energy, the strategy also seeks to boost nonsovereign investments in wind and solar energy to advance climate commitments in line with the country’s nationally determined contribution under the Paris Agreement.

To improve equitable access to services, the strategy will focus on addressing gaps in healthcare and education, enhancing their quality, and promoting skills development. Initiatives aimed at bolstering health security, responding to food security challenges with nutrition-sensitive conditional cash transfers, and enhancing agribusiness value chain development are also key components of this comprehensive approach.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

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