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am Theun 2, the Lao People’s Democratic Republic’s (Lao PDR) largest hy-dropower facility, was officially inaugurated on 9 December signaling a newera for growth, development and poverty reduction in the landlocked Southeast Asian country.Over 90% of the electricity generated by the project is being sold to Thailand, pro-viding Lao PDR with a $2 billion revenue stream over the next 25 years.The funds are earmarked for the nationwide improvement of health and educationservices, and other poverty alleviation programs.“This project is a testament to the fact that when hydropower projects are doneright, in a socially and environmentally responsible manner, the benefits are consid-erable,” said Kunio Senga, Director General of ADB’s Southeast Asia Department.
IN THIS ISSUE
ADB President Urges Deeloping Asia to Inest in Solar Energy
ADB Sets Up PooledInfrastructure Fund for Afghanistan
The Call to Action: Moing Forward with SolarEnergy in Asia and the Pacific
Bhutan: Homegrown Career Opportunities
$300M Program to Expand Access to Housing in Indonesia
$200M Loan to Help Delier Sustained, Higher, and Pro-Poor Growth
$250M Ris Program to Expand Microfinance to the Poor
$250M Roadto Help Lift Economy in PRC’s Yunnan Proince
$200M Loan to DeepenFinancial Sector Reform in Philippines
NEWS FROM THE ASIAN DEvELOPMENT BANk
A D B
Homegrown Career Opportunities
B’s fs-growig ecoomy reqires my skilled workers. aaDB-fded projec ims o esre e locl poplio is qlifiedo do em. Red e sory o pge 6.
A 350-meter height eleation between the reseroir and the Nam Theun 2 power station enablesthe generation of 6,000 gigawatts of electricity per year.
overnments and monetary authorities in emergingEast Asia need to cooperate more on exchange ratesand other policies to turn the swift post-crisis recoveryinto more balanced, long-term growth.“Regional exchange rate cooperation—if handledwisely—can ensure intraregional exchange rate stabilitywhile allowing inter-regional flexibility; thus helping pro-mote intraregional trade and investment, and rebalancethe region’s sources of growth,” said the special section of the latest edition of ADB’s
Asia Economic Monitor
, releasedin December.
a r i e l J v e l l n
East Asia Needs to Lookat Currency Cooperation
Lao PDR Hydro Project SpursDevelopment, Improves Lives
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he ADB Board of Directors has approved a $1.1 billionfinance package for two major transportation projectsin Viet Nam that will help unclog Ho Chi Minh City’sovercrowded roadways. ADB will provide $540 million toward a $1.4 billion project to construct a second mass transit line in Ho Chi Minh City, andan additional $636 million for a $1.6 billion project to construct a modern expressway to the south of the city.“These projects will significantly reduce traffic congestion,help lower traffic accidents, and abate carbon emissions,” said James Lynch, Director of ADB’s Transport and Urban Develop-ment Division for Southeast Asia.Private vehicles currently dominate Viet Nam’s transporta-tion landscape, and in Ho Chi Minh City, road infrastructure isreaching saturation point. With the population of the greater Ho Chi Minh City area expected to grow from its current 9 million to almost 14 millionby 2025, traffic will continue to intensify, particularly as more
$3B Transport Projects to EaseGridlock in Ho Chi Minh City