I read this article earlier this morning and it is disturbing to see that Laos continue to seek $15 billion dollars from donors in the next five years. All these years money has been pouring into Laos and yet not much has changes. Yet, the poor people in Laos continue to suffers. No one project in Laos is fully funded by its own government. All the projects are mostly funded by the Koreans, Japaneses, Vietnamese and other countries. One could only ask, where did all those money that been pouring into Laos for the past 10 years went to? Few years back, most of the donors would just handed over the funds and let the Laos government build the infrastructures. Most of the infrastructures was build sub-standards and portion of project funds are in someone else pockets. Now, all the countries that helps fund the project would bring their own people to over see the works and handling the funds. It is gotten better but the corruption is still there, it is like bad disease that you can’t get rid off. Which is sad to see.
Wow! Let’s hope I wont be getting in trouble by voicing my opinions. I just feel like the Lao Government is exploiting the poor people of Laos. Most of the poor folks out in the country side will not even get a dime out of a dollar. The poor folks will continue to suffer and all the high ranking officials will continue to prosper, thanks to all countries that continue to donate money to Laos. So most of them can send their kids to school in U.S. and other countries.
Well, enough of my ranting for today. Here is the link of the article I read earlier.
Laos needs 15 billion dollars for next five-year plan, report says
Oct 12, 2010, 7:17 GMT
Vientiane, Laos – Laos will require 15 billion dollars to finance its next five-year development plan in 2012-16, of which 26 per cent is expected to come from foreign donors, media reports said Tuesday.
Laos’ goals for the plan are to be discussed next week between 300 government officials
and 80 representatives of international aid agencies, the Vientiane Times reported.
The meeting was to be co-chaired by Prime Minister Bouasone Bouphavanh and the head of the UN Development Programme (UNDP) Helen Clark, Minister of Planning and Investment Sinlavong Khouthphaythoune told a press conference Monday.
Laos was to present its development goals and projects for the five-year plan at the meeting.
UNDP Laos representative Sonam Yangchen Rana said the communist state would need an estimated 127 trillion kip (15 billion dollars) to implement the plan.
Around 26 per cent of the funds were expected come from official development assistance, another 50 to 60 per cent from foreign direct investment, 10 per cent from domestic credit and 10 per cent from the government.
Laos, which opted for a communist system in 1975, is ranked as one of the world’s poorest nations. Foreign aid has financed on average more than 50 per cent of its annual budget for decades, but that proportion has been declining steadily in recent years according to estimates.
Between 2006 to 2010, Laos received overseas aid for 2,251 projects amounting to 2.4 billion dollars, according to a report from the Ministry of Planning and Investment.