World Bank supports hydropower sector in Laos
The World Bank is supporting the renewable energy industry in Laos by providing a multi-million pound loan.
It has signed an agreement with the Government of Loa People’s Democratic Republic (PDR) for new financing worth $17.8 million (£10.7m) to help the nation manage its hydropower and mining resources.
The cash will be used for the ‘Technical Assistance for Capacity Building in the Hydropower and Mining Sectors Project’ in Laos, which is expected to help the nation meet the power and hydro demands of its neighbouring countries.
Thipphakone Chanthavongsa, Vice Minister of Finance of the Lao PDR said: “The projects will contribute to the socioeconomic development and environmental sustainability of Lao PDR.”