China Grants over 34 billion kip for Poverty Reduction in Laos | Lao Tribune

China Grants over 34 billion kip for Poverty Reduction in Laos

The government of China is providing over 34 billion kip (CNY 33 million) to fund a pilot project on poverty reduction in Vientiane Capital and Luang Prabang.

The funding will be spent on basic infrastructure and agriculture development over the next three years (2017-2019) in Sor village, Sangthong district, Vientiane Capital, and Xienglome village, Luang Prabang district, Luang Prabang Province.

The pilot project on poverty reduction was launched in Vientiane Capital on Dec 7 and will be conducted in the three Southeast Asian countries of Laos, Cambodia and Myanmar.

The poverty rate has dramatically decreased within ASEAN when compared to other regions, yet big challenges and barriers remain to reach desired sustainable development goals, particularly among the least developed members of ASEAN including Cambodia, Laos and Myanmar.

Thus, these cooperative pilot projects to reduce poverty will considerably contribute to reducing development disparities within ASEAN, said Mr Thongvanh Vilayheuang, Acting Chairman of the National Committee for Rural Development and Poverty Eradication.

“The pilot project in Laos will make a vital contribution to the implementation of national strategies, the 8th five-year National Socio-economic Development Plan, and efforts being made so that the Lao PDR can graduate from Least Developed Country status by 2020,” said Mr Thongvanh.

He added that the project aims to demonstrate the ever expanding friendship between Laos and China.

Chinese Ambassador to Laos Guan Huabing said that the project seeks to demonstrate China’s experience in poverty alleviation.

“The project intends to alleviate poverty in targeted areas, improve living and production conditions of the communities, build capacity for self-development, diversify the means of generating incomes, and provide examples for the Lao government to eliminate poverty and improve people’s livelihoods,” said Guan Huabing.

“The launch of this project will not only enhance the cooperation and exchanges between Laos and China, but also contribute to deepening the friendly cooperation between the two governments, enhance the friendship between the people of the two countries and further promote regional cooperation,” added the ambassador.

Source: Lao News Agency