International Finance Corporation (IFC) has announced a US$67 million financing package for the development of Thanaleng Dry Port located in Vientiane Logistics Park in Laos. The project aims to encourage cross-border trade for the landlocked country and boost efficiency and cost-effectiveness of the logistics services, as well as stimulate competitiveness and establish a new Southeast Asian trade hub.

IFC will directly contribute $26.1 million, with the remaining amount being provided by the leading international commercial banks. A loan of $21 million will be provided through the Blended Finance Facility under the International Development Association's (IDA) Private Sector Window (PSW).

The project will facilitate a significant increase in bilateral trade between China and Laos, in addition to promoting transit trade between China, Thailand, Malaysia and Singapore.