WB, ADB increase aid to Mekong sub-region

The World Bank (WB) and the Asian Development Bank (ADB) have pledged to provide additional funding to help develop the Greater Mekong Sub-region (GMS) at a seminar in Hanoi Friday.

Addressing the seminar on GMS economic cooperation strategy, WB Country Director Ian Porter said his bank will focus its investment on such fields as water resource management, electricity trade, transport and human resources development.

The WB is also likely to assist GMS in the areas of environment, forestry, healthcare and risk management, he added.

Ayumi Konishi, ADB Country Director, also pledged loans and personnel support to GMS and continued that his bank will coordinate with the WB to reduce risks that may arise during the project implementation process.

Noteworthy in the GMS economic cooperation strategy is a regional electricity market project, which is aimed at increasing electricity trading between GMS members.

This year, the WB is expected to extend support to a project to build electric grids between Cambodia and Vietnam as well as between Cambodia and Laos. It also plans to map out a feasibility study for a project on a high-voltage electric grid connecting Vietnam with southern China.

The GMS includes Cambodia, Laos, Myanmar, Thailand, Vietnam and two Chinese provinces - Guangxi and Yunnan.