Vientiane, March 27 (AseanAll) — On March 26, 2026, Asian Development Bank (ADB) President Masato Kanda met with President Thongloun Sisoulith to celebrate 60 years of partnership and discuss a shared vision for the country’s sustainable growth. Mr. Kanda reaffirmed ADB’s long-term commitment to the Lao People’s Democratic Republic (Lao PDR), announcing nearly $1 billion in planned financing over the next three years to support the nation’s transition toward graduation from Least Developed Country status.
“Sixty years of partnership is more than a milestone; it is a record of resilience and mutual trust,” said Mr. Kanda. “As the Lao PDR moves toward graduation, ADB is doing more than providing capital. We are driving a partnership that crowds in private investment, modernizes agriculture, and builds a sustainable future for the next generation.”
In discussions with Lao Prime Minister Sonexay Siphandone, Mr. Kanda focused on how inclusive growth and strengthened debt management will anchor the country's development goals. He commended the government’s success in stabilizing inflation and exchange rates through sound monetary and fiscal measures implemented since late 2024.
To reinforce this enduring partnership, Mr. Kanda joined Deputy Prime Minister and Minister of Finance Santiphab Phomvihane to inaugurate the newly refurbished Lao PDR Resident Mission. The modernized facility features solar energy integration and optimized workspaces designed to improve project delivery and staff collaboration. The inauguration included a traditional Baci ceremony, a ritual symbolizing the mutual trust and deep cultural bond that underpin the ADB–Lao PDR relationship.
Mr. Kanda also visited an agribusiness project on Xing Xou island along with Minister of Agriculture and Environment Linkham Douangsavanh to see how ADB-supported initiatives are transforming rural lives. Such efforts have contributed to the Lao PDR achieving record agricultural exports exceeding $1.6 billion in 2025. The work has reached more than 20,000 farmers, helping small households transition to higher-value crops and better connect with regional markets.
ADB held a 60th anniversary reception where Mr. Kanda stood with Deputy Prime Minister and Minister of Foreign Affairs Thongsavan Phomvihane, along with other ministers and development partners, to reflect on six decades of partnership between ADB and the Lao PDR. The event showcased a legacy of cooperation that has supported the country's development priorities and sustainable growth.
Strengthening regional cooperation is central to Asia and the Pacific’s future. In his meetings with government officials, Mr. Kanda reaffirmed ADB’s full support as Lao PDR prepares to host the Greater Mekong Subregion Leaders’ Summit in 2027. He also highlighted the ASEAN Power Grid Financing Initiative as a vital opportunity for the Lao PDR to harness its renewable energy resources and anchor regional power integration.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
