South-East Asian countries consider ways to boost 'green financing' as region chokes on smog

Laos is rich in hydroelectric power, but its economy has been shrinking in recent years and its national finances are fraught - strained by a heavy load of foreign and domestic debt, a weakening currency and inflation. - VT

LUANG PRABANG, Laos: Senior finance and central bank officials from South-East Asia and major economies met Thursday (April 4) in the scenic Laotian city of Luang Prabang to discuss ways to help the region build resilience against shocks like the Covid-19 pandemic and natural disasters brought on by climate change.

The need for faster progress was dramatically apparent as the city and surrounding region were engulfed in heavy smoke from fires - some set to clear forests for crops, some ignited by record high temperatures and tinder-dry conditions. The air quality index early Thursday was nearly 300, or "very unhealthy.”