The Lao Electric Power Company is heavily in debt, but the managers are living well-Radio Free Asia
Electricite du Laos, a Lao power supplier, is heavily in debt, owing at least US$2 billion to foreign creditors, mainly Chinese and Thais. Sources said that at the same time, EDL managers are still doing well and in some cases have accumulated a lot of personal wealth.
An official of the Ministry of Energy and Mines of the Lao Government told the “Lao Government” on condition of anonymity: “Laos owes foreigners approximately US$2 billion in electricity, excluding interest.”
A source close to a senior EDL official said that the power company’s debt “now exceeds $2 billion.”