ADB projects steady recovery for Lao economy in 2023

Energy remains an important sector to drive economic growth next year. - VT

VIENTIANE (Vientiane Times/Asia News Network): The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.

“A consortium of lenders is preparing finance for the 600-megawatt Monsoon Wind project which, once completed, will export all the power it generates and be Southeast Asia’s biggest wind energy project,” stated an update in ADB’s flagship publication, Asian Development Outlook (ADO) 2022.