Aid and development
World Bank staff point to 'leadership crisis' at global lender
Staff at the World Bank delivered a broadside against its sitting president this week, saying the global lender faced a “crisis of leadership” and risked irrelevance on the world stage. The rebuke, made in an open letter from the Bank’s staff association, came as informal talks ...
World Bank loan will not be used for govt salary increases, says president’s office spokesperson
Government employees’ salaries will not increase despite plans to take out a loan worth US$100 million from the World Bank, aimed at covering a state deficit by separating salaries from the budget, according to government officials. Myanmar’s President Htin Kyaw sent a message on August 5 ...
More aid earmarked for Myanmar
Australia has pledged an extra $12 million in humanitarian assistance to Myanmar to help address the legacy of civil war and natural disasters. Foreign Minister Julie Bishop made the announcement after meeting with her counterpart and democracy icon Aung San Suu Kyi.Keep reading ...
Cambodia, Vietnam to build market on border
The Vietnamese government on 27 July agreed in principle to provide a grant of $2 million to Cambodia to build a model market aimed at boosting cross-border trade between the two countries, officials at Cambodia’s Ministry of Commerce said. The market will be constructed on 1.5 ...
Laos benefits from regional cooperation
Laos is benefiting from regional projects supported by the Republic of Korea and India through Mekong-ROK and Mekong-Ganga cooperation. The Sixth Mekong-ROK Foreign Ministers’ Meeting hosted by Laos in Vientiane on Sunday welcomed the endorsement of seven projects under the Mekong-ROK Cooperation Fund, to which the ...
Myanmar needs to scale up transport investment: ADB
The Myanmar needs to invest US$45 billion to $60 billion in transport projects over the next 15 years, to improve connectivity with neighbours and ensure equitable distribution of economic growth, Asian Development Bank officials have said. “Every year, Myanmar will need about $4 billion. This ...
China denies political conditions on aid to Cambodia
China said on 22 July its financial assistance to Cambodia is in no way dependent on that country’s support on diplomatic and political issues, such as Beijing’s dispute with other Southeast Asian countries in the South China Sea. A Foreign Ministry statement faxed to The Associated Press ...
IACD boosts education and cultural exchange project
The Institute of Asian Culture and Development and the Ministry of Education and Sports will work together to improve education and cultural exchange in Laos after reaching a grant project agreement. The agreement was signed on 19 July in Vientiane by IACD Country Director Dr Hosik ...
NEDA and JICA sign MOU on Mekong sub-region development cooperation
The Neighbouring Countries Economic Development Cooperation Agency and the Japan International Cooperation Agency have recently signed a memorandum of understanding to cooperate in the development of the Mekong sub-region and promote social and economic advancement in the region and foster connectivity along the Mekong economic corridor. ...
World Bank approves loan to poverty reduction fund
On 13 July, the Ministry of Finance signed a US$30 million agreement with the World Bank aimed at continuing to finance Laos’ Poverty Reduction Fund, improving livelihoods and upgrading infrastructure for residents of 150 rural villages in over 40 districts of 10 target provinces. The funding will ...
