Minister of Finance Bounchom Oubonpaseuth received World Bank Country Director for Cambodia, Myanmar and Laos Mrs Mariam Sherman in Vientiane on May 5.
The guest and her host discussed the enhancement of bilateral cooperation between the Ministry of Finance and the World Bank, especially on WB’s provision of funding for development priorities in Laos.
Ms. Sherman gave updates on the next World Bank Group Country Partnership Framework for the Lao PDR. The framework defines how Laos and the World Bank Group will work together from 2022 through 2026.
She emphasized the World Bank’s readiness to support the National Agenda to Address Economic and Financial Difficulties, for example by providing technical advice on debt and dealing with the economic challenges caused by the COVID-19 pandemic.
Mr. Bounchom highlighted the financial contribution of the World Bank to the socio-economic development in the Lao PDR and exchanged views with the guest on the World Bank’s technical assistance for debt management and the implementation of performance and policy actions to improve transparency and financial sustainability.
They further discussed the World Bank’s programmes supporting the Ministry of Finance, including public financial management and the modernization of customs systems, along with the need for continued attention to human capital – health and education support – for Laos’ future economic growth.
Source: Lao News Agency