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 help to improve the rural poor’s access to basic infrastructure such as roads and clean water, and help improve livelihoods with good nutrition in the target villages. Despite rapid economic growth in the last few decades, poverty remains high in Laos, especially in rural areas and among ethnic groups.
