At the 9th Lao Business Forum, the Hydropower Developers’ Working Group (HDWG) of the Lao PDR presented its first statement on sector issues, part of its effort to effect sustainable change within the country’s hydropower sector.
Experts agree that private sector involvement will be essential to sustainably develop the Mekong Basin. Yet cooperation and information sharing between the private sector and the Mekong River Commission (MRC) remains limited.
With its global expertise on sustainable hydropower development, IFC provides tailored advice to hydropower companies and lending banks to help them address environmental, labor, occupational health, and safety issues effectively.
Soukmano Manivong believes creating a dedicated environmental and social team would support the successful development of sustainable hydropower projects at his company, Electricite du Lao Generation (EDL-GEN).
In Lao PDR, a majority of hydropower financing comes from overseas financiers. New trend is that banking regulators & associations from the 3 top lending markets are on the move to support banks’ adoption of sustainable-banking practices.
IFC in East Asia and the Pacific focuses on supporting sustainable, private sector-led development to ensure the region’s economic growth reaches all segments of society. Around half of our investments in fiscal year 2012 were in the region’s poorest countries with IFC opening up access to finance for small and medium enterprises, connecting rural households to electricity for the first time, improving access to healthcare, and fighting climate change by improving energy efficiency.