Southeast Asian countries consider ways to boost 'green financing' as region chokes on smog

LUANG PRABANG, Laos -- Senior finance and central bank officials from Southeast Asia and major economies met Thursday, April 4, 2024, in the scenic Laotian city of Luang Prabang to discuss ways to help the region build resilience against shocks like the Covid-19 pandemic and natural disasters brought on by climate change.

Laos and its neighbors also are contending with a raft of other regional troubles, including human trafficking, a growing illicit drug trade and fast-growing enclaves of online scam centers run by criminal syndicates.A landlocked country of about 7.5 million people, Laos is rich in hydroelectric power, but its economy has been shrinking in recent years and its national finances are fraught — strained by a heavy load of foreign and domestic debt, a weakening currency and inflation.

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