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Ministry adopts ODA mobilisation strategy 2030

The Ministry of Planning and Investment has adopted the  Official Development Assistance (ODA) mobilisation strategy 2030.
The move is aimed at defining the vision, direction, rules, and standards for fundraising, as well as the control and use of funds for the maximum benefit and sustainable development.
The strategy was adopted at a ceremony held at the Ministry of Planning and Investment on Tuesday and attended by the Minister of Planning and Investment, Dr Kikeo Chanthaboury, the Charge d’Affaires of the Embassy of Luxembourg, Mr Sam Schreiner, and representatives of related sectors.
According to a statement from the Department of International Relationship under the Ministry of Planning and Investment, the funding for development has reduced in recent years but Laos still need funds for sustainable development.
The Ministry adopted the promulgation of the ODA mobilisation strategy 2030 in order to continue receiving funds worth at least US$700 million a year from development partners for development and technical assistance. The formulation and ongoing activities of the ODA mobilisation strategy 2030 was supported by the government of Luxembourg under the project “LAO/033 Strengthening the Effectiveness of ODA Management in Laos”.
“The strategy includes comprehensive strategic frameworks and is complementary to national development policies because it had been deeply discussed in the global and internal contexts through various technical consultations with line ministries, provinces and development partners. Most importantly, it was discussed at a high-level consultation meeting among ministers of line ministries,” Mr Kikeo Chanthaboury said during the ceremony on Tuesday.
“During the formulation of the strategy, we realised that ODA trends have been affected by low global economic growth, which directly impacts the socio-economic development of development partners or OECD countries and their allocation of financial supports for the global development agenda,” he added.
“This year, the global economy has declined due to the Covid-19 pandemic, while economic development after the pandemic will be slow and take longer than expected. Laos’s economy will struggle in the next quarter or even a year forward,” Mr Kikeo said.
“Moreover, GDP growth for the year 2020 will decrease to 0.6 percent from 5.5 percent in 2019, as estimated in the draft of the 9th National Socio-economic Development Plan,” he added.


By Times Reporters
(Latest Update June 25, 2020)


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