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Route 13 to be Improved and Maintained with World Bank Support

World Bank Route 13 Road Upgrade

More than 500,000 people living adjacent to sections of National Road 13 will benefit from the improvements planned in the National Road 13 Improvement and Maintenance Project.

The agreement for the project was signed today by the Vice Minister of Finance, Mme Thipphakone Chanthavongsa, and the World Bank Country

Laos Ranked 42nd Most Vulnerable Country to Climate Change

Laos has been ranked as the 42nd most vulnerable country to climate change.

This is due to the country’s proneness to climate-related hazards. Laos’ susceptibility to natural disasters manifested again last week with flooding in Phongsaly province. Several districts suffered from the loss of crops, breaking of irrigation canals …

Laos Will Issue Bonds in KIP

The Lao government has announced that it will issue domestic bonds in LAK (kip) – instead of foreign currencies – with a two-pronged objective aimed at avoiding risks linked to the exchange rate and strengthening the domestic capital market.

According to the Ministry of Finance, under this scheme, the payment of interest …

Lao Government Bonds Soon to be Available on Lao Stock Market

The Lao Government is in the process of preparing documents, measures and regulatory and legal frameworks necessary to register government bonds on the Lao stock market (Lao Securities Exchange – LSX).

All the arrangements are being handled by the Lao Securities Commission Office (LSCO) and the regulatory work and other measures …

Lao People Are Paying Too Much For Rice

Lao people are paying some of the highest prices for rice in the region despite the country being a significant rice producer, according to the recently released World Bank Economic Monitor on Laos.

Rice is the country’s biggest agricultural commodity. The crop covers about 75% of arable land in the country and 90% of production …

World Bank Economic Report: Formal Vs. Informal Financial Services

A World Bank report released last week reports that “informal” financial services continue to play an important role in the lending sector in Laos despite the fervent growth of legal micro-finance institutions (MFIs) around the country.

According to the report, which employs data garnered from Lao authorities, the legal micro-finance sector saw rapid expansion around the country. The …

PM: Laos Won’t Graduate From Least Developed Country Status by 2020

Laos Least Developed Country

In a surprise revelation, Prime Minister Sisoulith told the members of the National Assembly last week that despite the government’s enormous efforts, Laos will not be able to graduate from its Least Developed Country (LDC) status by 2020, a goal that has been one of the nation’s priorities since 2001.

In response to the pressing concerns of …

PM Sisoulith: First Half of 2018 Sees Economy Grow at 6.7%

Prime Minister Thongloun Sisoulith told the 5th Ordinary Session of the National Assembly on Tuesday that the country’s economic development has been advancing as expected with the first half of this year seeing a growth rate of 6.7%.

Based on data collected in the first four months of this year, agriculture is …