OREANDA-NEWS. A meeting led by the Government of the Lao People’s Democratic Republic (Lao PDR) reviewed the implementation performance of projects and programs in Lao PDR financed by the Asian Development Bank (ADB) and the World Bank Group. Project implementation challenges were discussed, and measures agreed to streamline processes and improve performance and effectiveness.  

The Joint Country Portfolio Review (JCPR)Meeting was led by Ministry of Planning and Investment, with active participation from the government’s key implementing agencies.  

“Through the 8th National Socio-Economic Development Plan, Lao PDR has focused on maintaining high economic growth that benefits all people and in continuing to reduce poverty,” said Kikeo Chanthaboury, Vice Minister for Planning and Investment. “We welcome the work of our international partners to improve and enhance the assistance they provide to help the people of Lao PDR.” 

With a combined active portfolio of approximately $1.2 billion as of June 2016, ADB and World Bank Group operations in Lao PDR include projects to benefit agriculture and rural development, education, transport, industry and trade, environment, and municipal infrastructure. The size of the combined portfolio of ADB and the World Bank Group in Lao PDR underscores the importance of collaborative initiatives like today’s Portfolio Review to improve implementation performance and yield greater development results in the country.

“We appreciate the active participation of all stakeholders in the annual Joint Country Portfolio Review,” said Steven Schipani, Senior Portfolio Management Specialist at ADB’s Lao PDR Resident Mission. “ADB values cooperation with the Government and World Bank Group to improve portfolio performance and ensure we remain relevant, responsive and results-oriented development partners.” 

“The Joint Country Portfolio Review Meeting is a useful platform to identify joint actions to address bottlenecks and to improve the effectiveness of both the World Bank Group and ADB financed projects, which ultimately will contribute to the government’s achievement of the anticipated outcomes of the 8th National Socio-Economic Development Plan,” said Evgenij Najdov, the Acting World Bank Country Manager to Lao PDR. 

Focusing on overall development progress, participants from the line ministries discussed implementation challenges, and also identified methods and new ideas for improving and sharing of good practices of project start-up and implementation, procurement, financial management and taxation, and monitoring and evaluation.