World Bank grant to boost Lao customs work
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The World Bank has approved US$6.5 million (Bt197 million) in additional grant financing for a customs and trade facilitation project in Laos.
The financing builds on an International Development Association (IDA) grant of $6 million approved in 2008, according to the World Bank Office in Vientiane.
It compliments the bank’s support for the programme, which aims to improve the efficiency and effectiveness of customs administration – to simplify customs processes and procedures to eliminate duplication, redundancy, reduce transaction costs and time to clear goods.
The Customs and Trade Facilitation Project also aims to support government objectives in achieving high rates of economic growth that translate into meaningful poverty reduction, increased transparency and accountability.
The project forms part of an ambitious and integrated country trade programme supported by the World Bank in partnership with Australia, the European Union, Germany and Ireland.
This includes a related IDA and Multi Donor Trust Fund financed project – the Second Trade Development Facility Project – as well as a National Single Window Non-lending Technical Assistance activity.
The additional financing will assist the Lao Customs Department to play a major role in furthering the government’s wider trade facilitation and national competitiveness agenda.
It will focus on providing further support in key areas designed to ensure full and effective implementation of the new Customs Law and its translation into modern and business-friendly systems and procedures. The funds will support the preparation of a series of implementing regulations and procedures consistent with international standards and accepted good practice approaches.
It will also help the customs department to train and develop its own personnel. In addition, it will support the further functional expansion and geographical rollout of the Automated System for Customs Data and will strengthen the customs department capacity to effectively maintain its ICT systems and infrastructure.
