Many Development Projects in Mekong Basin Still Require Funding

 Fourteen development projects in the Mekong Basin are still in need of financial resources, while 37 projects have already taken off and are at different levels of implementation. The ASEAN Economic Ministers were updated of the projects’ progress at the 13th Ministerial Meeting of the ASEAN-Mekong Basin Development Cooperation (AMBDC) held on August 12.

 

 The Ministers were informed that, as of 10 August 2011, there are 51 projects under the AMBDC with fourteen projects still requiring funding totaling US$272.5 million. These projects are diverse and include those of infrastructure, trade and investment, agriculture, forestry and minerals, industry, tourism, human resource development, as well as science and technology.

 

 The AMBDC provides a critical link for the development cooperation framework of countries surrounding the Mekong River. The AMBDC’s overall objectives are to advance ASEAN integration by enhancing economically sound and sustainable development of the Mekong basin. By doing so, it encourages a process of dialogue and common project identification to achieve economic partnerships for mutual benefit. It also strengthens interconnections and economic linkage between ASEAN Member States and the Mekong countries, including China.