The Asian Development Bank (ADB) is expected to grant aid worth 1.2 billion U.S. dollars to help Laos boost economy and minimize adverse impacts of the on-going global economic crisis, Lao newspaper Social Economic Times reported Wednesday.

The majority of the money will be allocated to build a hydro power plant in Khammouan province of Laos, Xinhua reported. The remainder will be invested into the country's projects on education, healthcare, technology and science and for the development of the national small- and medium-size companies, said the newspaper.

The bank will also contribute 5 million U.S. dollars to upgrade a number of roads linking Laos to neighboring countries, said the newspaper.