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Greater Mekong ministers call for implementing pipeline investment projects

Xinhua, September 10, 2015 Adjust font size:

Ministers of the Greater Mekong Subregion (GMS)-Economic Cooperation Program Thursday called for mobilizing additional funding to fully implement a 30- billion-U.S. dollar pipeline investment and technical assistance projects, saying that the projects would drive growth and infrastructual development in the subregion.

The GMS Economic Cooperation Program's work to improve transport infrastructure, expand energy access, and promote sustainable and inclusive development has paid enormous dividends for the subregion and its people, said Vice-President of the Asian Development Bank (ADB) Stephen Groff in a press release.

He stressed the need for GMS to leverage greater resources, particularly private sector funds, to successfully execute its ambitious development agenda.

GMS ministers also urged for accelerated efforts to implement seamless cross-border transport and trade in the subregion, which the ministers said along with improvements in power and telecommunications, are key building blocks for the realization of the ASEAN Economic Community.

The ministers emphasized the need for more infrastructure funding follow a recent agreement adopted by five Mekong nations and Japan to boost industrialization in the subregion.

The ministers also endorsed a new framework for urban development in the GMS, with greater emphasis on green development, which complements the aims of the pending Sustainable Development Goals.

According to the release, since its inception in 1992, the GMS Program has invested approximately 17 billion U.S. dollars in projects covering subregional roads and transportation links, cross-border energy, tourism infrastructure, and communicable disease prevention.

Under the theme of "Taking Action for Inclusive and Sustainable Development", the 20th Greater Mekong Subregion-Economic Cooperation Program (GMS) Ministerial Conference was held in Nay Pyi Taw.

Supported by the Asian Development Bank, the six-country GMS Economic Cooperation Program is made up of Cambodia, China, Laos, Myanmar, Thailand and Vietnam sharing the Mekong River. Endi