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Lao peoples democratic republic : HYDROPOWER and mining sector boosts the funds approved by the WORLD BANK

August 22, 2014

The hydropower and mining sectors are to get a boost from funding approved by the World Bank.

The Bank has signed an agreement with the Government of Lao PDR for an additional US $17.8 million in funding for a technical assistance project aimed at building capacity in the 2 sectors.

H.E. Mme. Thipphakone Chanthavongsa, Vice Minister of Finance of the Lao PDR, said that the hydropower and mining sectors are an important part of the Lao economy, and the new project contributes to the socioeconomic development and environmental sustainability of Lao PDR.

The Bank announced it approved a US $8.9 million grant and US $8.9 million credit for the project, which has been put in place important building blocks for the effective management of hydropower and mining development, and has supported the development of policies, regulations and guidelines for governance of the 2 sectors.

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Source: TendersInfo (India)

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