China, Laos sign agreement on Lancang-Mekong cooperation fund

China and Laos have signed an agreement on Lancang-Mekong cooperation funding for Lao projects in Vientiane.

In his speech at the signing ceremony on Tuesday, Chinese Ambassador to Laos Wang Wentian congratulated the successful application for Lao projects under Lancang-Mekong cooperation fund, saying this is another milestone in the Lancang-Mekong cooperation framework.

The Chinese side highly appreciates the enthusiastic participation of Laos in the Lancang-Mekong cooperation framework, which has contributed to the rapid development of the mechanism, Wang said.

The ambassador expresses his belief that under the implementation of Laos and joint efforts of both sides, the cooperation will gain more fruitful achievements in the future.

Lao Deputy Minister of Foreign Affairs Khamphao Ernthavanh said that the Lancang-Mekong cooperation mechanism has made substantial progress in various fields, reflecting that China attaches great importance and actively engages in various work in promotion of projects under the fund.

Laos has harvested tangible benefits from the cooperation, including those in human resource development, infrastructure construction, public healthcare, and poverty reduction among others, according to the Lao diplomat.

Khamphao also expressed gratitude to China’s approval of 13 projects in Laos under the fund, adding that the projects will help promote development of Laos, thus further strengthening bilateral ties.

Lancang-Mekong cooperation is established in 2016, since then various exchanges activities among political parties, youth and religious groups have been organized.