Joint Press release PRSO 5
24 September 2008
A joint review mission of the Poverty Reduction Support Operation (PRSO) concluded with a meeting of senior Government and donor representatives on Thursday in Vientiane.
The PRSO is supporting the implementation of the sixth National Socio Economic Development Plan through reforms around two pillars, investment and business, and public finance management and service delivery. Development Partners are supporting Government development policies by providing funds directly into the Government budget following the achievement of agreed actions.The implementation of the PRSO has so far been very successful in promoting close collaboration between Government ministries, as well as increased donor coordination as envisaged by the Vientiane Declaration on Aid Effectiveness.
During the mission PRSO partners including the World Bank, Australia, the European Commission and Japan discussed with representatives from the Government of Lao PDR the key reforms the PRSO aims to support during its fifth cycle, as well as possible reforms to be included in the next operation which will commence in June 2009.
The mission confirmed good progress in the implementation of key actions, most of which are expected to be finalised by March 2009. Important reforms include the centralisation of the Treasury, and the development of an Education Sector Development Framework. Four actions have already been achieved successfully, in the areas of private sector development, reform of state-owned enterprises and the banking sector, with measures such as the simplification of enterprise registration procedures.
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The Ministry of Finance has been leading and coordinating the Government team working on PRSO, which involves other ministries such as Ministry of Planning and Investment, Industry and Commerce, Energy and Mines, Health, and Education, and a number of Agencies of the Prime Minister's Office.
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