Backgroud

 1.         Background

On 09 July 2010 the Asian Development Bank (ADB) approved a grant of US$ 23 million (92.7%) to the Government of the Lao People’s Democratic Republic for the Strengthening Technical and Vocational Education and Training Project (STVET Project). With the grant becoming effective on 01 September 2010 and closing date on 31 March 2016. The Contribution to STVET Project by the Government of Lao, together with cash and in-kind contribution, is estimated at 1.8 million (7.3%).

2.         Data of Financing

  • ADB Grant No.:                0211–LAO (SF)
  • Project Title:                     Strengthening Technical and Vocational Education and Training Projects
  • Recipient:                        The Lao People’s Democratic Republic
  • Executing Agency:           Ministry of Education and Sports
  • Implementation Agency:  Ministry of Education and Sports

Total estimated project cost and financing plan:

 

Source

Foreign Exchange

$ million

Local Currency

$ million

Total Cost

$ million

Percentage of total

ADB

9.7

13.3

23.0

92.7%

Government

-

1.8

1.8

7.3%

Total

9.7

15.1

24.8

100.0%

 

 

 

 

Source:          Project Administration Manual (PAM)

  • Dates of approval, signing, and effectiveness of ADB Grant:

ADB approved the STVET Project to the amount of US$ 23 million equivalent, on 09 July 2010. The agreement was signed on 29 July 2010 and became effective on 01 September 2010.

  • ADB Grant closing date and elapsed grant period:

The project completion date for ADB is 30 September 2015

The closing date for withdrawals from the Grant Account is 31 March 2016.