VIENTIANE, Nov. 18 -– The Asian Development Bank (ADB) and the Australian government have decided to extend non-refundable aid worth about 17 million USD to help Laos develop its tourist industry and to reduce poverty in the country.
An agreement underscoring the aid was signed late last week in Vientiane.
Accordingly, the Australian government agreed to inject 10 million AUD (roughly 7 million USD) into the poverty reduction program, scheduled to be implemented during 2008-2011.
The ADB has contributed 10 million USD to the second phase of a sustainable tourism development program in the Sub-Mekong region. This phase will be carried out in the Lao capital of Vientiane, as well as the provinces of Bokeo, Luang Namtha and Savannakhet.
