Vientiane: The Asian Development Bank (ADB), in collaboration with the Ministry of Finance, hosted a two-day Workshop on Scaling Up Financing for Resilient Growth in the Lao PDR. The event gathered over 100 senior government officials, development partners, and sector experts to explore strategies for promoting resilient growth within the country.
According to Lao News Agency, Vice Minister of Finance Soulivath Souvannachoumkham expressed gratitude to the ADB and the United Kingdom's Foreign, Commonwealth and Development Office (FCDO) for their support in co-hosting the workshop. He highlighted the importance of discussions on vulnerabilities and challenges associated with natural disasters and the need to enhance financing solutions. These discussions, he noted, will play a crucial role in shaping the government's strategies, particularly for the Ministry of Finance, as it refines investment plans to align with national climate and development priorities.
Vice Minister of Natural Resources and Environment, Mr. Phouvong Luangxaysana, who co-chaired the workshop, pointed out the significant impacts of climate-induced disasters on Lao PDR. He underscored the need for stronger regional and international cooperation to access funding, with the goal of promoting resilience, enhancing adaptive capacity to climate change, and integrating climate considerations into national planning.
Central and provincial government agencies convened to discuss the country's vulnerabilities and challenges in addressing increasingly frequent and severe floods and droughts. These natural disasters disrupt multiple sectors, including finance, public works, environment, agriculture, commerce and industry, health, tourism, and urban development.
In addition to the ADB, other development partners such as the World Bank, FCDO, World Food Programme, and the Food and Agriculture Organization shared insights on how they have been assisting the Lao PDR Government in designing policy and investment projects to strengthen resilience in agriculture, health, and disaster risk management.
ADB Country Director for the Lao PDR, Shanny Campbell, emphasized that ADB combines financing resources with technical expertise to help Lao PDR translate resilience goals into actionable projects. The workshop represents a significant step in aligning the government's investments with its resilience objectives.
The workshop also included sessions where ADB experts and government representatives brainstormed investment opportunities in resilience measures across different economic sectors. They discussed ADB pipeline projects to bolster resilience and explored methods for accessing financing and technical assistance. ADB remains committed to supporting the Ministry of Finance and other ministries in developing new investments that foster resilient growth, in collaboration with other development partners.
ADB, a leading multilateral development bank, is dedicated to supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. By working with its members and partners, ADB addresses complex challenges, leveraging innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and protect the planet. Founded in 1966, ADB is owned by 69 members, with 49 from the region.