Lao govt thanks World Bank

 

The government of the Lao PDR expressed deep thanks to the World Bank and its member countries for the agreement to release a guarantee of the loan for the Nam Theun 2 Hydropower project in Laos at the Executive Board of Directors of the World Bank on March 31 in Washington. The Lao government observed that the agreement of the World Bank was an excellent and humanitarian decision, a vastly important contribution to the efforts of the government and Lao people as a whole, especially the Nakai, Yommalath and Mahaxay people, for national development and for poverty eradication as development strategy of the Lao government.

Nam Theun 2 is the main and top priority project of the government , which will be a huge contribution of power as well as funds for the country's implementation of its socio-economic development strategy to bring the country out of its least developed country status and eradicate poverty . the government confirmed its determination to observe the agreements and other conditions of the World Bank and its member countries, especially for the management of the budget of the project to be transparent and conform to the agreements, especially given the importance of comments from international organisations on operation of the project for respecting the rights of all communities involved, listening to suggestions on environmental impact etc.

In addition, Nam Theun 2 will provide jobs to 4,000 local residents, and Thakhek town will becomes an important transit point for project staff, through which all equipment and tools for the project will be transported.

Not only Thakhek people but also those in Khammuan and Borikhamxay provinces will benefit from the Nam Theun 2 project, for which they have been waiting for a decade.