In 2018, Laos was hit by widespread floods. They were some of the heaviest and cost intense floods in a decade and had a huge impact on the economy of Laos. Also many people died, got injured or lost their homes. The effects of the disaster can still be felt today. On Dec. 13 the World Bank’s Board of Executive Directors granted financial help. The approved additional financial funds are 50 million U.S. dollars. Their primary purpose is to repair the damage caused by the flood, which is estimated to be 371.5 million U.S. Dollars.
What the financial funds will be used for
The money is distributed to two projects. One part goes to the Southeast Asia Disaster Risk Management Project. Another part to the Lao Road Sector Project II. The money for the Southeast Asia Disaster Risk Management Project in Laos is intended to reduce the effects of flooding on potential risk areas and help the government to respond appropriately to such disasters. Furthermore, it’s meant to enhance hydro-meteorological services. The money for the Lao Road Sector Project II has two purposes. On the one hand, damaged roads are to be repaired. On the other hand, the infrastructure should become more climate resilient.
Financial aid to Laos and its impact on tourism
The financial resources that are granted for disasters naturally only have an indirect impact on tourism. Still, they have an impact. By promoting infrastructure and disaster management, for example, the safety of tourists is also increasing. But of course that’s not all. A better infrastructure also improves the entire transport system. This will, among other things, make bus trips through the country more attractive. In general, sooner or later financial aid will contribute significantly to the economic development of Laos. Who knows, maybe the country will even become one of the next Asian Tigers.
- In September 2016 Obama visited Laos and became the first U.S. president ever to step foot in the country. Most people don’t know that this visit was of utmost importance and helped to overcome a dark chapter in history. As you can see in the picture above Obama’s visit remains an important event. Many people […]
- Money is always an interesting topic and in Laos it’s no different. Therefore in this article we want to talk about some relevant topics regarding money in Laos. First of all: If you’ve always wanted to be a millionaire, Laos is the right country for you, because the local currency is not worth much compared […]
- Vang Vieng is just wonderful for yoga. A small town in the mountains, surrounded by nature, you couldn’t ask for a better atmosphere. If you aren’t familiar with yoga or you just don’t want to do it alone, you may be wondering whether there are yoga classes in Vang Vieng. We’re glad to confirm that […]
- Those who exercise regularly and plan to travel to Vang Vieng, usually want to know, if there is any gym in the town. We’re happy to confirm that this is the case. In fact, there are some gyms in Vang Vieng and the equipment is usually quite good. So let’s take a closer look at […]
- If you research about vegetarian or vegan food in Laos, you’ll see that most people believe that the Southeast Asian country has little to offer in this regard. We don’t agree with that. In our opinion, the situation isn’t nearly as bad as it’s partially described. On the contrary, there are some great vegetarian and […]