Philippines, Dec. 17 -- The Asian Development Bank (ADB) has approved a $10 million financing for the Responsible Forestry Project Phase I in the Lao People's Democratic Republic (Lao PDR), marking ADB's first investment in the country's forestry sector in a decade.The project aims to halt forest degradation, strengthen climate resilience, and improve livelihoods for forest-dependent communities in Bolikhamxay, Khammouan, and Vientiane Capital.The financing comprises a $5 million concessional loan from ADB's ordinary capital resources and a $5 million grant through ADB's Asian Development Fund (ADF). Forests cover 62% of Lao PDR, support key sectors, and employ more than 65% of the national workforce. Yet decades of unsustainable practices ...