Latest news with #SustainableAgrifoodSystemsSectorProject
The Star
25-07-2025
- Business
- The Star
Laos, ADB ink US$63mil package to transform agrifood systems
Deputy Minister of Finance Mr Soulivath Souvannachoumkham and ADB Country Director for the Lao PDR Shanny Campbell shaking hands after signing financing agreements. - VT VIENTIANE: The Asian Development Bank (ADB) has signed a set of financing agreements worth US$63 million to support the transformation of agrifood systems in Laos through the Sustainable Agrifood Systems Sector Project. The US$50 million in financing is provided by ADB, the Asean Infrastructure Fund, and the European Union-Asean Catalytic Green Finance Facility. An additional US$13 million in grants also comes from the Asian Development Fund and the Green Climate Fund, channelled through the Community Resilience Partnership Programme Investment Fund, totalling US$63 million. The Sustainable Agrifood Systems Sector Project aims to enhance climate resilience, improve food security and nutrition, increase household incomes, and strengthen high-value agricultural exports across selected provinces. The agreements were signed in Vientiane on July 23 by Deputy Minister of Finance, Soulivath Souvannachoumkham, on behalf of the Lao government, and ADB Country Director for the Lao PDR, Shanny Campbell. The signing ceremony was attended by representatives from relevant government ministries and the Ambassador of the European Union to Laos. 'The project supports the Lao PDR government's efforts to accelerate agriculture sector growth and deliver benefits to households and agribusinesses,' Soulivath said. 'On behalf of the government of Laos, I would like to thank our development partners, particularly ADB and the European Union, for their continued support.' The project will strengthen agrifood systems geared towards domestic and export markets for high-value commodities. It will provide investments in commercial financing, privatised technical services, small-scale infrastructure, and food safety initiatives. Financial services will be delivered nationwide through banks and microfinance institutions, while targeted technical advisory services and infrastructure development will be implemented in six provinces—Champasak, Saravan and Xekong in the south, and Huaphan, Phongsaly and Xayabouly in the north. Key commodities such as bamboo, coffee, durian, sustainable cassava, and tea will receive targeted support to enhance value addition before export. 'By supporting national efforts for agrifood systems transformation, the project will benefit communities and enterprises while also contributing to the country's economic growth,' Ms Campbell said. 'This project is an integral element of ADB's broader country programme in support of the government's social and economic development agenda.' Laos' agriculture sector has considerable growth potential, driven by rising domestic and regional demand. However, realising this potential requires greater competitiveness and resilience in agrifood systems, along with improved food security and increased export capacity. The project will be implemented by the Ministry of Industry and Commerce, with support from the Bank of the Lao PDR, the Ministry of Agriculture and Environment, and the Lao National Chamber of Commerce and Industry. - Vientiane Times/ANN
Barnama
25-07-2025
- Business
- Barnama
Top News Headlines In Indonesia, Laos, Myanmar, Singapore, Thailand & Vietnam: July 25, 2025
TRADE DEAL POSSIBLE THREAT TO DATA SOVEREIGNTY -- THE JAKARTA POST A trade agreement between Indonesia and the United States set to include provisions on personal data transfers has raised alarms about the potential undermining of Indonesia's data sovereignty. Indonesia's government and parliament have agreed on a 2026 economic growth target of between 5.2 and 5.8 per cent, according to the preliminary 2026 draft state budget and national development plan endorsed in a plenary session on Thursday. FUNDS RM266 MILLION TO DEVELOP AGRIFOOD SYSTEMS -- VIENTIANE TIMES The Asian Development Bank (ADB) will provide RM266 million (US$63 million) to finance the Sustainable Agrifood Systems Sector Project. The project aims to enhance climate resilience, food security and nutrition, raise household incomes and strengthen high-value agricultural exports. URGES CAMBODIA, THAILAND TO MAINTAIN PEACE -- VIENTIANE TIMES The Lao Foreign Affairs Ministry has urged Cambodia and Thailand to resolve the border conflict through peaceful means. As a neighbour sharing borders and maintaining good relations with the two countries, the ministry urged them to exercise restraint. MYANMAR GROWERS EYE MORE ASEAN MARKETS -- THE GLOBAL NEW LIGHT OF MYANMAR The Myanmar Avocado Producer and Exporter Association plans to expand its exports to Malaysia, Singapore, Thailand and China this season. The association will expedite imports of fertilisers and pesticides to assist farmers in improving the production of avocados. MISSING AFTER BOAT CAPSIZES IN YANGON RIVER -- THE GLOBAL NEW LIGHT OF MYANMAR Three people are missing after a boat sank while crossing from Dala's Thamada to Yangon's Botahtaung jetty due to heavy rain and strong winds. The boat was carrying 10 passengers when the tragedy happened and rescuers failed to find the missing people. SINGAPORE POSTS 3.8% ANNUALISED RETURN OVER 20 YEARS DESPITE ECONOMIC UNCERTAINTIES -- THE STRAITS TIMES The returns on GIC's investment portfolio have remained stable despite trade uncertainties, geopolitical upheaval and volatile markets, according to its annual report on July 25. 20-YEAR ANNUALISED REAL RETURN DIPS TO 5-YEAR LOW OF 3.8%, WARNS OF VOLATILE RETURNS AHEAD -- CNA Singapore sovereign wealth fund GIC on Friday (Jul 25) reported a dip in its returns to the lowest in five years and reiterated a warning on volatile returns ahead amid 'a world in flux'. THAILAND 1. 2ND ARMY ASSERTS THAILAND'S RIGHT TO SELF-DEFENCE UNDER UN CHARTER AMID CAMBODIAN ATTACKS -- THE NATION Thailand asserts its right to self-defence under the UN Charter after Cambodia attacks civilian areas, including ancient site, petrol station, and hospital. 2. CAMBODIA'S ATTACK KILL 12 THAIS -- BANGKOK POST The number of fatalities from Cambodia's attacks on Thai civilian areas has risen to 12, including an eight-year-old boy, with over 30 injuries, according to the Thai army. VIETNAM REMAINS BUOYANT DESPITE HEADWINDS -- VIETNAMPLUS Vietnam's exports and imports reached RM2 trillion (US$470 billion) from January to July despite global challenges. Computers, electronics, machinery, equipment, apparel and footwear remained major revenue earners. CHI MINH TAPS INTO SPORTS TOURISM -- VIETNAM NEWS Ho Chi Minh City plans to combine sports with cultural and nature-based activities to attract more tourists. The city is trying to leverage the country's scenic mountains, rivers and coasts to promote the travel industry. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
The Star
13-07-2025
- Business
- The Star
Laos launches climate-smart farming project in six provinces
VIENTIANE (Laotian Times): Laos is stepping up efforts to tackle climate-related food insecurity and open new export opportunities, with US$68.5 million in support from the Asian Development Bank (ADB) and partners to modernise agriculture in six climate-vulnerable provinces. The new Sustainable Agrifood Systems Sector Project, running from 2025 to 2030, will focus on improving food security, nutrition, and climate resilience in three northern provinces—Xayabouly, Phongsaly, and Houaphanh, and three southern ones, Salavanh, Sekong, and Champasack. Backed by a mix of loans and grants from the ADB, the EU-ASEAN Catalytic Green Finance Facility, and the ASEAN Infrastructure Fund, the project reflects the growing need to protect food systems from climate shocks while increasing farm productivity and export potential. At the centre of the plan is climate-resilient farming. Smallholder farmers will receive hands-on training to adapt to changing weather, with a focus on high-value crops like bamboo, coffee, and durian that suit both market demand and local conditions. The project also offers affordable microfinance options to help farmers and rural businesses stay afloat during extreme weather. Key infrastructure such as irrigation systems and rural roads will be upgraded to allow year-round farming and easier access to markets. Community involvement and gender inclusion are also major parts of the plan. Both men and women will help lead and maintain local infrastructure projects, ensuring long-term success and shared responsibility. By tackling climate risks, food shortages, and trade barriers all at once, the project marks a big step in preparing Laos's rural economy for a more unpredictable future. - Laotian Times
The Star
11-07-2025
- Business
- The Star
ADB approves US$65.8mil to boost climate-resilient agrifood systems in Laos
VIENTIANE: The Asian Development Bank (ADB) has approved a US$65.8 million financing package to support the government's efforts to modernise and strengthen agrifood systems, improve rural livelihoods and build climate resilience across Laos. The funding for the Sustainable Agrifood Systems Sector Project aims to improve climate resilience, food security, nutrition and incomes of vulnerable households and communities. It will also increase the competitiveness of Lao agriculture in both domestic and export markets, the bank said on its website on July 7. 'This initiative is reflective of ADB's commitment to expand its support to long-term food and nutrition security in Asia and the Pacific,' said ADB Country Director for Laos, Shanny Campbell. 'By strengthening agrifood systems, this project will benefit rural households and enterprises through higher incomes and enhanced access to markets.' The project will focus on high-value commodities including bamboo, coffee, durian, sustainable cassava and tea, helping producers add value before shifting to export markets. Investments in financial services, privatised technical services, small-scale infrastructure and food safety will be provided in support of these objectives. The project will offer financial services nationwide, while technical advisory services and infrastructure will be delivered in Champasak, Salavan and Xekong provinces in the south and Huaphan, Phongsaly, and Xayabouly provinces in the north. The project will be supported by a US$50 million package from ADB, the Asean Infrastructure Fund, and the European Union-Asean Catalytic Green Finance Facility, along with US$15.8 million in grants from the Asian Development Fund, the Green Climate Fund—through the Community Resilience Partnership Programme Investment Fund—and the High-Level Technology Fund. The Lao agriculture sector holds significant growth potential, spurred by rising domestic and regional demand. However, unlocking this potential requires improving the competitiveness and resilience of agrifood systems, boosting food security and nutrition, and increasing exports of high-value commodities. - Vientiane Times/ANN
