HANOI, June 7 (Xinhua) -- The World Bank has recently signed a deal with the Lao government on providing 21.75 million U.S. dollars of funding for the country's electricity and poverty reduction projects, according to local news reached here on Wednesday.

    Under the deal, the Rural Electricity Project, which is to expand Laos' electricity network to remote areas in the seven southern provinces of Borikhamsay, Khammouane, Savannakhet, Saravane, Champhassak, Sekong and Attapeu, will receive 13.75 million dollars for the first phase of implementation, said Lao news agency KPL.

    Besides, the National Poverty Reduction Project will receive 8 million dollars for the second phase of implementation. The fund will enable the government to cooperate with various ministries to improve bank services, state expenditure and enterprise services.

    The aid is a significant landmark in the long-standing cooperation between the World Bank and the Lao government, with the goal of improving rural electricity in remote areas, and accelerating national poverty reduction for Laos' socioeconomic development, said the report. Enditem