Last Updated March 13, 2008
The Japan Bank for International Cooperation (JBIC) has signed a ¥500mn (US$4.87mn) overseas development assistance (ODA) loan with the government of Laos. The facility is co-financed with the World Bank and will support a poverty reduction programme.
It is the second ODA loan supporting the scheme, with the previous facility signed in February 2007.
The programme supports the Laos governments's National Growth and Poverty Eradication Strategy launched in June 2004. This aims to strengthen the country's fiscal revenue and expenditure management, as well as develop private sector activities.
Laos has sustained a high real economic growth of about 7% in recent years. However, 31% of its population of around 5.8mn still lives in poverty.
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