ID :
35610
Mon, 12/15/2008 - 10:31
Auther :
Shortlink :
http://m.oananews.org//node/35610
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EU supports government reform
EU supports government reform
(KPL) The European Commission (EC) yesterday approved 13 million Euro grant to support Lao government reforms under the Poverty Reduction Strategy Operation (PRSO).
This is a four-year general budget support committee that aims to ensure greater predictability of the resources available to the government.
Yearly successful achievement of key policy actions and reaching social sector targets, will allow the government to receive annual disbursements of funds.
These resources will support the national budget for four Lao fiscal years starting from 2008-09.
At the signing ceremony of Financial Agreement, Mr. Somchit Inthamith, Director General of International Cooperation Department, Ministry of Planning and Investment, and Dr. Stefan Lock, country representatives of the EC Delegation to Lao PDR signed the Financing Agreement.
The EC has contributed with 3.2 million Euro to the PRSO 3 early this year and with this additional support to PRSO 4 to 7, the contribution of the EC will amount
more than 16 million Euro.
1 million Euros will support specifically capacity development efforts of the Ministry of Education and the Ministry of Health.
The PRSO is a 2004 initiative by the World Bank, implemented by the Ministry of Finance and other key line ministries and agencies such as the Ministry of the Education and the Ministry of Health.
Japan, the EC and Australia are key partners in the contributing to the programme. The PRSO4-7 aims to enhance progress in the following three areas of reform: sustained growth through the reduction of trade barriers and the creation of an enabling business environment, improved public finance management systems and enhanced performance in the health and education sectors.
“EC’s participation to the PRSO aims to support the Government in its poverty reduction efforts, with a special focus on the education and health improved service delivery results. By joint the PRSO with a four-year commitment, the EC is contributing to greater aid effectiveness and ensuring predictability of donor funding.
This is critical in the context of global financial crisis when resources for social sectors risk being even more limited,” said Dr. Lock.
(KPL) The European Commission (EC) yesterday approved 13 million Euro grant to support Lao government reforms under the Poverty Reduction Strategy Operation (PRSO).
This is a four-year general budget support committee that aims to ensure greater predictability of the resources available to the government.
Yearly successful achievement of key policy actions and reaching social sector targets, will allow the government to receive annual disbursements of funds.
These resources will support the national budget for four Lao fiscal years starting from 2008-09.
At the signing ceremony of Financial Agreement, Mr. Somchit Inthamith, Director General of International Cooperation Department, Ministry of Planning and Investment, and Dr. Stefan Lock, country representatives of the EC Delegation to Lao PDR signed the Financing Agreement.
The EC has contributed with 3.2 million Euro to the PRSO 3 early this year and with this additional support to PRSO 4 to 7, the contribution of the EC will amount
more than 16 million Euro.
1 million Euros will support specifically capacity development efforts of the Ministry of Education and the Ministry of Health.
The PRSO is a 2004 initiative by the World Bank, implemented by the Ministry of Finance and other key line ministries and agencies such as the Ministry of the Education and the Ministry of Health.
Japan, the EC and Australia are key partners in the contributing to the programme. The PRSO4-7 aims to enhance progress in the following three areas of reform: sustained growth through the reduction of trade barriers and the creation of an enabling business environment, improved public finance management systems and enhanced performance in the health and education sectors.
“EC’s participation to the PRSO aims to support the Government in its poverty reduction efforts, with a special focus on the education and health improved service delivery results. By joint the PRSO with a four-year commitment, the EC is contributing to greater aid effectiveness and ensuring predictability of donor funding.
This is critical in the context of global financial crisis when resources for social sectors risk being even more limited,” said Dr. Lock.
