The signing ceremony for the Exchange of Notes for a Grant Aid Project entitled “Economic and Social Development Programme” was held at the Ministry of Foreign Affairs of the Lao PDR, Vientiane. The Notes were signed and exchanged by Ambassador of Japan to the Lao PDR Kobayashi Kenichi, and Deputy Minister of Foreign Affairs Phoxay Khaykhamphithoune under witness by representatives from the line ministries.
The Government of Japan will provide grant aid of JPY1 billion (about USD8.7 million) to implement the Economic and Social Development Programme which will provide the Government of the Lao PDR with necessary equipment worth JPY1 billion (about 8.7million) for enhancing the capability of disaster risk reduction. The programme is expected to reduce the damage caused by natural disasters especially flood through prompt response by enhancing the early warning system.
There have been growing concerns over the frequency and intensity of natural disasters caused by climate change in the Lao PDR. Reducing the vulnerability of the society to natural disasters as well as reducing damage is one of the top priorities for the Lao government in order to realize its sustainable economic and social development.
“We sincerely hope that this project would contribute to protect lives of the people and realize sustainable economic and social development in the Lao PDR. In addition, Japan will continue to share its accumulated knowledge, experience and technology for Disaster Risk Reduction as a Strategic Partner”, said Ambassador Kobayashi at the ceremony.
Source: Lao News Agency