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dam-l LS: ADB to open Resident Missionin Lao PDR



ADB: Host country agreement between Lao PDR and ADB

   MAY 10, 2000, M2 Communications - ADB President Tadao Chino and Mr.
Bounnhang Vorachith, Deputy Prime Minister and Minister of Finance of the
Lao People's Democratic Republic (Lao PDR) signed yesterday the agreement
for the establishment of an ADB Resident Mission in Lao PDR. This will pave
the way for the official opening of ADB's Resident Mission in Vientiane.
   ADB has extended development assistance to Lao PDR since 1970. As of
December 1999, cumulative lending to Lao PDR consisted of 46 loans amounting
to US $827 million. In addition, technical assistance grants for 171
projects amounting to US $76.5 million had been provided. In the 1970s and
1980s, ADB assistance was focused mainly on economic growth projects
involving infrastructure development in the transport and energy sectors.
Financial sector development was also assisted by ADB in the latter part of
the 1980s. Since the early 1990's, the emphasis of ADB assistance to Lao PDR
has been broadened to include rural development, social development and
environment.
   Establishment of an ADB Resident Mission in Lao PDR is expected to
significantly enhance the effectiveness of the Bank's operations in Lao PDR.
"Establishing a resident office in Vientiane will open a new chapter in our
long and productive development partnership", said President Chino during
the signing ceremony for the agreement.
   ((M2 Communications Ltd disclaims all liability for information provided
within M2 PressWIRE. Data supplied by named party/parties. Further
information on M2 PressWIRE can be obtained at http://www.presswire.net on
the world wide web. Inquiries to infom2.com)).

=====
Denis Johnson
Minneapolis, MN, USA
drjohnson1@uswest.net