Lao NEWS on LNTV:Small enterprise, mining&hydropower sectors receive World Bank financing.19/8/2014

VO Small enterprise, mining and hydropower sectors receive World Bank financing’ US million
INTRO: The government and the World Bank Group have signed two new agreements, with the international financier to extend funding of almost US million to the small enterprise, mining and hydropower sectors.
STORY: The signing ceremony took place in Vientiane yesterday between Deputy Minister of Finance Madame Thipphakone Chanthavongsa and the World Bank Country Director for South East Asia, Ulrich Zachau.
The new support includes a US million grant Small and Medium Enterprise Access to Finance Project, which will also receive US million in credit from the International Development Association and at least US million from the International Finance Corporation in risk sharing funds.
The project will provide long term credit to small firms and help them to grow and create more jobs in the economy.
The government of Laos and the World Bank Group also signed an agreement to continue technical assistance to Laos in managing its hydropower and mining resources.
This support comes in the form of US.8 million, to fund the ‘Additional Financing to the Technical Assistance for Capacity Building in the Hydropower and Mining Sectors Project’.
It is said that, the hydropower and mining sectors are core drivers of economic growth for Laos, and the government realises the importance of enhancing institutional capacity in planning, management, monitoring and revenue management for these sectors.

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