VIENTIANE (Vientiane Times/ANN): The European Union (EU) has approved grants worth 45 million euros to support Laos’ socio-economic development during 2025-2027, with the focus on economic growth, education and governance.
EU Ambassador Mark Gallagher announced the funding during a meeting with the Minister of Planning and Investment, Dr Phet Phomphiphak, in Vientiane on January 31.
This assistance will support the 10th National Socio-Economic Development Plan (NSEDP), following a successful review of the EU’s previous support from 2021 to 2024.
The EU and its member states, along with Switzerland, have already committed an estimated 600 million euros under the Team Europe Strategy for 2021-2025 to support Laos’ 9th NSEDP.
The new funding will continue to focus on three key areas – promoting a green and inclusive economy, enhancing education and vocational training, and strengthening governance.
These priorities remain important as Laos prepares to graduate from the Least Developed Country status and implements its 10th NSEDP.
Investing in a green and inclusive economy will strengthen key sectors, while greater investment in education and vocational training will help develop human capital.
Improving the management of public finance is essential to boosting revenue collection and ensuring efficient and transparent spending.
The grants worth 45 million euros will support socio-economic development from 2025 to 2027, reaffirming the EU’s commitment through its Global Gateway initiative to fostering sustainable growth.
The Global Gateway initiative takes a comprehensive approach, ensuring that investments in infrastructure are complemented by improvements in policies, regulations, skills, education, and employment opportunities.
Mr Gallagher emphasised the EU’s commitment to long-term cooperation with Laos and the broader region. He highlighted that through the Global Gateway initiative, the EU is addressing investment gaps and backing the transition to greener economies.
“The EU remains committed to the 2030 Agenda and the Sustainable Development Goals (SDGs). Through Global Gateway, we are bridging the investment gap, supporting economic recovery, and advancing the green and digital transitions,” he said.
“Despite global challenges, from geopolitical tensions to the climate crisis, the EU remains a strong and reliable partner, committed to long-term cooperation with Laos and the wider region,” he added. - Vientiane Times/ANN
