Japan announced Sunday it will provide Laos with an aid package worth 10.46 billion yen to help the Southeast Asian country build infrastructure.
"I hope that our aid will contribute greatly to Laos' economic development," Prime Minister Shinzo Abe said at a joint press conference with Laotian Prime Minister Thongsing Thammavong after their talks at Abe's office.While Southeast Asia is recognized as a center of growth, financial disparities in the region remain between the more developed states such as Singapore and less developed ones including Laos.
The signing of an estimated 9.5 billion yen loan agreement, along with more than 900 million yen in grants, was done in the presence of the two prime ministers.
The yen loans will be disbursed to a project to expand the international airport terminal in the capital Vientiane and another project to support poverty reduction, Japan's Foreign Ministry said.
The grants will partly help in a bridge construction initiative in the southern part of Laos, the ministry said.
Source: NewsOnJapan
The signing of an estimated 9.5 billion yen loan agreement, along with more than 900 million yen in grants, was done in the presence of the two prime ministers.
The yen loans will be disbursed to a project to expand the international airport terminal in the capital Vientiane and another project to support poverty reduction, Japan's Foreign Ministry said.
The grants will partly help in a bridge construction initiative in the southern part of Laos, the ministry said.
Source: NewsOnJapan
