Lao PDR Competitiveness and Trade (LCT) Mid-Term Review
Summary of publication
Lao PDR Competitiveness and Trade (LCT) Project is a multi-donor program administered by the World Bank and implemented by the National Implementation Unit (NIU) of Ministry of Industry and Commerce (MoIC) in Lao PDR. LCT was designed for the period January 2019- December 2022 with funding from Australia (AUD 4.5 million), USAID (USD 3 million from September 2019), Irish Aid (EUR 360,000) and a World Bank IDA loan (USD 10 million). Responding to the COVID impact on the Lao economy, DFAT provided additional funding AUD 1 million in June 2020 (as part of the Humanitarian and Health COVID-19 Response in Laos Program). This brings the total contribution of DFAT to LCT to AUD 5.5 million. LCT was designed using lessons learned and outcomes from the previous Trade Development Facility Phases I & II (TDF I & II) (2007-2013). The objective of the LCT project is to simplify the business regulations, facilitate trade and improve firm competitiveness.
LCT has four pillars, including A) Improving Business Environment; B) Facilitating Trade and Connecting to Markets; C) Improving Firm-Level Competitiveness and D) Supporting Better and More Inclusive Policies.
At the end of 2020, LCT had reached to its mid-term point. Stakeholders agreed to conduct a mid-term review and commit additional financing in early February 2021. This mid-term review mission had two objectives 1) to assess progress made and any needed changes and 2) identify priority areas for additional financing.