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According to the Bank’s website, the technical assistance (TA) will support the Bank of the Lao People's Democratic Republic (BOL) in improving the country's debt sustainability and macroeconomic stability. It will strengthen the central bank financial sector framework and related policies, as well as its regulatory, supervisory, analytical, and monitoring capacities. Since the early 2010s, economic structural challenges have undermined economic growth prospects in the Lao People's Democratic Republic (PDR) by causing long-standing current account deficits, draining foreign exchange reserves, depreciating the Laotian kip, and raising inflation. Behind these macroeconomic challenges are excessive government borrowing and repayment obligations to finance increasing external public sector debts, at least in part. These have been on the rise as the relatively underdeveloped local capital markets have forced the government to fund its needs using external sources.
According to the Technical Assistance Report:
Environment: Not Applicable
Involuntary Resettlement: Not Applicable
Indigenous Peoples: Not Applicable
The TA financing amount is $1,500,000, which will be financed on a grant basis by ADB’s Technical Assistance Special Fund (TASF 7) from debt management set-aside.
The government and BOL will provide counterpart support in the form of counterpart staff, office space, office supplies, administrative assistance, domestic transportation, technical guidance to the TA consultants, report consolidation and translation, other logistical and administrative support, and other in-kind contributions.
The Bank of the Lao P.D.R. is the central bank of Laos. It is also the bank of last resort, controlling the money supply, managing the country's reserves, and supervising the commercial banks operating in Laos.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Bank of the Lao People's Democratic Republic | Client | - |
Project Officer: Peter Rosenkranz
Designation: Senior Financial Sector Specialist - Asian Development Bank
Email: prosenkranz@adb.org
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
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ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.