Asian Development Bank (ADB) President Masato Kanda met with Lao PDR President Thongloun Sisoulith to mark 60 years of partnership and outline a vision for the country’s sustainable growth. ADB announced nearly $1 billion in planned financing over the next three years to support Lao PDR’s transition from Least Developed Country status. Mr. Kanda emphasized that the partnership goes beyond financing, promoting private investment, modernizing agriculture, and building a sustainable future for the next generation.
Discussions with Prime Minister Sonexay Siphandone focused on inclusive growth and strengthened debt management as anchors for the country’s development. Mr. Kanda commended Lao PDR’s success in stabilizing inflation and exchange rates through sound fiscal and monetary measures since late 2024. To reinforce the partnership, ADB inaugurated a refurbished Resident Mission featuring solar energy and optimized workspaces to enhance project delivery and staff collaboration, accompanied by a traditional Baci ceremony symbolizing mutual trust and cultural bonds.
Mr. Kanda also visited an agribusiness project on Xing Xou Island with Minister of Agriculture and Environment Linkham Douangsavanh, highlighting ADB-supported initiatives that have transformed rural livelihoods. These efforts helped over 20,000 farmers transition to higher-value crops and improved regional market access, contributing to record agricultural exports exceeding $1.6 billion in 2025. The 60th anniversary reception showcased six decades of cooperation supporting Lao PDR’s development priorities and sustainable growth.
Regional cooperation remains a key focus, with ADB reaffirming support as Lao PDR prepares to host the Greater Mekong Subregion Leaders’ Summit in 2027. The bank also highlighted the ASEAN Power Grid Financing Initiative as an opportunity for Lao PDR to harness renewable energy and strengthen regional power integration. ADB continues to drive inclusive, resilient, and sustainable growth across Asia and the Pacific through innovative financial tools and strategic partnerships, building infrastructure and supporting development across its 69-member countries.
