VIENTIANE (XINHUA) – The Asian Development Bank (ADB) approved a USD3 million technical assistance project to enhance power sector reform in Laos, aiming to create a sustainable and reliable clean electricity supply in the Greater Mekong Subregion.
The project will also help pave the way for increased investment and private sector participation in renewable energy, Lao News Agency reported yesterday.
Laos has significant potential to scale renewable energy to generate revenue and mitigate climate change impacts, but it needs to promote private sector investment through sound macroeconomic management and structural reforms, said the report.
The country’s energy sector is challenged by reform gaps and financial issues, hindering investments in transmission and distribution infrastructure, as well as the country’s ability to meet regional energy transition goals.
