ADB provides 10 mln dlr. to Laos for water safety

The Asian Development Bank (ADB) will provide Laos with 10 million US dollars in non-refundable aid to carry out safe water and people's health projects in the Southeast Asian country, sources from Lao capital city of Vientiane said Tuesday.

Laos on Monday signed a memorandum with the ADB to receive the aid.

The projects will be implemented in the country's northern and central regions with the first phase being carried out during the 2005-2010 period in eight northern provinces.

Laos has targeted a gross domestic product (GDP) growth of 7 percent in the 2004-2005 fiscal year ending November 2005. The country has made annual foreign trade turnover of nearly one billion US dollars in recent years, with key exports being electricity, garments, woodworks and coffee.

Source: Xinhua