The European Commission (EC) has approved a 13 million EUR (17.4 million USD) to help the Lao government carry out the Poverty Reduction Strategy Operation (PRSO) programme.
An agreement to this effect was signed by Somchit Inthamith, Director General of International Cooperation Department under Lao Ministry of Planning and Investment and Stefan Lock, country representative of the EC delegation to Laos, said Lao news agency (KPL) on December 15.
This is a four-year budget support starting from the fiscal year of 2008-2009 that aims to ensure greater predictability of the resources available to the government, the new agency said.
The programme also aims to enhance growth through the reduction of trade barriers and the creation of an enabling business environment; public finance management system and enhanced performance in the health and education sectors, said KPL.
It added that with this additional support, the contribution of the EC to the PRSO will amount to more than 16 million EUR.
The PRSO is a 2004 initiative by the World Bank with Japan with the EC and Australia are key partners in the contributing to the programme. EC’s participation to the PRSO aims to support the Lao Government in its poverty reduction efforts, with a special focus on the education and health improved service delivery results./.