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ដោយ: Xinhua
VIENTIANE: Laos needs to invest more in basic education and promote financial inclusion while strengthening social assistance and resilience to accelerate poverty reduction, the World Bank has said.
According to local daily Vientiane Times on Monday, Laos and Papua New Guinea, both nations with a significant extent of remote upland areas, were among countries categorised in the "lagging progress" group with high levels of extreme poverty in the region.
These countries can strive to reduce poverty more quickly by adopting the abovementioned approaches, the World Bank said in its new report entitled "Riding the Wave: An East Asian Miracle for the 21st Century" that was published on the bank's website on Dec. 5.
It suggested that nations of the East Asia and Pacific need new policy approaches to achieve inclusive growth.
Laos was among those reported to have persistently high levels of extreme poverty. This comes despite the Lao government intensifying efforts to alleviate poverty as the nation strives to graduate from least developed country status by 2020.
The Lao government has set a target to reduce poor households to 5.67 percent of total families nationwide by 2018, according to the report. This will be achieved by increased economic activity targeting a high-level of economic growth, expected to achieve some seven percent.
The World Bank's report stated that the countries of developing East Asia and Pacific, among the most successful in the world in reducing poverty and improving living standards, need to adopt new thinking if they are to achieve inclusive growth going forward.
By 2015, almost two-thirds of the region's population were either economically secure or middle class, up from 20 percent in 2002.
According to local daily Vientiane Times on Monday, Laos and Papua New Guinea, both nations with a significant extent of remote upland areas, were among countries categorised in the "lagging progress" group with high levels of extreme poverty in the region.
These countries can strive to reduce poverty more quickly by adopting the abovementioned approaches, the World Bank said in its new report entitled "Riding the Wave: An East Asian Miracle for the 21st Century" that was published on the bank's website on Dec. 5.
It suggested that nations of the East Asia and Pacific need new policy approaches to achieve inclusive growth.
Laos was among those reported to have persistently high levels of extreme poverty. This comes despite the Lao government intensifying efforts to alleviate poverty as the nation strives to graduate from least developed country status by 2020.
The Lao government has set a target to reduce poor households to 5.67 percent of total families nationwide by 2018, according to the report. This will be achieved by increased economic activity targeting a high-level of economic growth, expected to achieve some seven percent.
The World Bank's report stated that the countries of developing East Asia and Pacific, among the most successful in the world in reducing poverty and improving living standards, need to adopt new thinking if they are to achieve inclusive growth going forward.
By 2015, almost two-thirds of the region's population were either economically secure or middle class, up from 20 percent in 2002.
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