Public services get $7.67 million boost through World Bank grant

The World Bank has approved two complementary grants totalling $7.67 million to support social accountability in key public services such as health centres, primary schools, and local administrations in 10 provinces in Cambodia. An announcement on Friday said access to public services in Cambodia has improved ...

Long Kimmarita

WB supports Laos in disaster reconstruction, resilience

The Lao Ministry of Finance and the World Bank signed a financing agreement of 50 million U.S. dollars on Tuesday, extending support to the ongoing Lao People’s Democratic Republic Southeast Asia Disaster Risk Management Project and Lao Road Sector Project II. Bounchom Ubonpaseuth, Lao Deputy Minister ...

Xinhua

World Bank Classifies Laos as Lower-Middle-Income Economy for 2020

The World Bank has classified Laos as a lower-middle-income economy in its latest classification for the 2020 fiscal year. The bank classifies the world’s economies into four income groups, namely high, upper-middle, lower-middle, and low, based on Gross National Income (GNI) per capita in U.S. dollars. Lower middle-income economies are those ...

Taejun Kang

New $212m financing for climate-friendly projects in Vietnam

A new financing package of $212.5 million (£162m) has been announced to support climate-friendly projects in Vietnam. The funding from IFC, a member of the World Bank, will enable VPBank to expand its lending to small and medium businesses and boost financing for projects that help reduce carbon ...

Priyanka Shrestha

WB’s Vietnam Development Report 2019 launched

The Vietnam Development Report 2019 “Connecting Vietnam for Growth and Shared Prosperity” was co-launched by the World Bank (WB) and the Ministry of Planning and Investment in Hanoi on Wednesday. It presents a comprehensive overview of connectivity issues in Vietnam, using a set of new analytical ...

World Bank aids Vietnam’s transition to a solar auction program

The Global Infrastructure Facility’s (GIF) Governing Council has approved $1.5m in funding to support the World Bank’s work with the government of Vietnam on a Solar Pilot Auction Program. The GIF, working with the World Bank’s Energy Global Practice, will help the government to design and ...

WB approves additional funding for disaster recovery in Laos

The World Bank’s Board of Executive Directors Last Friday approved 50 million U.S. dollars of additional financing in Southeast Asia Disaster Risk Management Project in Laos and the Lao Road Sector Project II. The additional funding will help reduce the financing gap for reconstruction following widespread ...

Xuxin

Groups object to $250m World Bank project

More than 40 civil society organisations urged the World Bank to stop a project worth US$250 million (K380.3 billion) in eastern Myanmar over concerns it could undermine Karen culture and traditions.   The Peaceful and Prosperous Communities Project targets the development of conflict zones in eastern Myanmar.  According ...

National conference on sustainable development held

The National Conference on Sustainable Development 2019 took place in Hanoi on September 12 under theme “For a Decade of More Sustainable Development”, gathering leaders of the Government, ministries, sectors, localities, associations, and businesses. The event aimed to seek practical and effective measures to develop the ...

Economic growth rebounding but further reform needed: World Bank

The World Bank is optimistic about economic growth in Laos, which is projected to rebound to 6.5 per cent in 2019, rising from 6.3 per cent recorded last year.  Despite continued fiscal tightening, the pickup is expected to be driven by robust investment in mega infrastructure ...

Somsack Pongkhao

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