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.
As Myanmar works to build a hydropower sector, IFC experts say involving the private sector from the get-go and drawing from the experience of resource-rich neighboring countries such as Lao PDR will be the right move for the country.
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.