The International Finance Corporation (IFC) has decided to provide a financing package of US$ 67 million to support the development of Thanaleng Dry Port, part of an integrated logistics facility in Vientiane.
This new financing will help improve and modernize services. Providing this financial support aims to fund the development, construction and equipment costs of the dry port, which is part of Laos’s first-ever integrated Vientiane Logistic Park (VLP).
A signing ceremony for the financing was held on Tuesday at the dry port site.
Open for service since December last year, the dry port and logistics park will set new standards for Laos’ logistics infrastructure and help drive cross-border trade, signalling a major shift from sea trade to road and rail for landlocked Laos.
Developed with IFC’s advisory and financing support, once completed, the Thanaleng Dry Port will offer access to efficient and cost-effective logistics services, increasing competitiveness and establishing a new trade hub in the Southeast Asian region.
Source: Lao News Agency