The European Union (EU) is proposing 10.8 million euros (13.8 million U.S. dollars) in additional grant aid to Laos from 2009 to 2013, the Lao newspaper Vientiane Times reported Tuesday.
The proposal was made at the 5th Joint Committee Meeting jointly opened by Lao Deputy Minister of Foreign Affairs Phongsavat Boupha and Director for Asia of the European Commission 's Directorate General for External Relations James Moran to discuss past and future cooperation.
According to the Vientiane-based European Commission delegation, the additional grant aid is a result of the ongoing European Commission (EC) cooperation programme to help Laos implement its five-year socio-economic development plan, with priority given to poverty reduction, the management of public finances, and trade- related assistance.
This means EU assistance to Laos this year will be the highest ever, and will significantly help the country combat challenges posed by the global economic crisis.
The EU had earlier announced that it would assist Laos by providing 33 million euros (42.24 million U.S. dollars) from 2007 to 2013, and would give additional aid if cooperation programmes were found to be effective.
EU assistance to Laos has been increasing in recent years. Its assistance from 2002 to 2006 was 18 million euros (23.04 million U. S. dollars) excluding assistance through non-governmental organisations and regional programmes.
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