Private Infrastructure Development Group ( PIDG ), a multi-government-funded organization set up in 2002 to invest in infrastructure projects in developing countries, has invested US$300,000 – through its project development solution, InfraCo – in Laos’ first green bond issued by LOCA, Laos’ largest ride-hailing and electric vehicle ( EV ) charging service provider.
PIDG’s participation, the organization points out, has supported local market participation by LDB Securities Sole Company, a wholly owned subsidiary of Lao Development Bank, a major commercial bank in the country. The US$997,700 bond will fund the development of 15 stations ( 60 charging guns ) nation-wide.
PIDG’s investment builds on a US$2.5 million convertible loan provided to LOCA in 2025 to install 54 charging stations, bringing LOCA’s current charging station numbers to a total of 82, covering all 18 provinces of Laos.
This contributes to the Lao government’s national target of achieving 30% EV adoption by 2030, which is to be supported by 500 charging stations across the country.
Driven by a need to reduce their dependence on fossil fuels and an abundance of untapped electricity generation resources, the Laos government, PIDG shares, rolled out policies in 2023, which promoted the development of the EV industry in Laos, including production, supply, batteries, post-purchase services and EV charging stations.
PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia and Sweden, and Global Affairs Canada.
The transaction supports sustainable development goal number 9 – industry, innovation and infrastructure – through facilitating sustainable and resilient infrastructure development through advanced financial support.
“This bond is proof that green finance works in Laos,” says Souliyo Vongdala, LOCA’s co-CEO. The capital we raised at home will go straight into charging infrastructure that every EV driver in the country can use – creating real impact for our nation: less dependency on imported fuel, foreign currency kept at home, and concrete progress on our climate commitments. We hope it is the first of many green issuances in our market.”
Phonepasong Mixab, co-CEO and CFO of LOCA, notes: “Bringing the first green bond in the Lao PDR to market meant building the road as we travelled it – a framework aligned with international standards, an independent second-party opinion and investors willing to lead the way.”
