HANOI, May 8 (Xinhua) -- The Asian Development Bank (ADB) and Australia are providing a grant of one million U.S. dollars to help Laos develop the tools needed to manage its vast water and environmental resources flowing from the Mekong River, Lao newspaper Vientiane Times reported Thursday.

    According to the Australian Embassy to Laos, the Mekong River traverses six of Southeast Asia's richest and poorest countries, with the Laos being the source of about 38 percent of the annual flow of the 11th longest river in the world. The vast biodiversity of the 4,880 km-long river makes it one of the world's richest, with more than 1,200 species of fish.

    ADB's Southeast Asia Department senior water resources management specialist Ian Makin said the Mekong River's water resources contributed to the economy through irrigation for agriculture and would sustain growing hydropower revenues.

    "The unique environmental aspects also support tourism in the region. This project with help develop the skills and experience needed to manage those resources," he said.

    Laos will become better placed to develop water-related projects in an environmentally friendly way, and become an informed and equal partner in the Mekong River Commission, which groups together the countries surrounding the Mekong River to address cross-border water issues, the newspaper said, adding that other countries that share the Mekong are Cambodia, Thailand, Vietnam, China and Myanmar.