The European Union (EU) is committed to giving extra funding to Laos to help the country deal with the global financial crisis, the Lao newspaper Vientiane Times reported Monday.

According to David Lipman, Head of the European Committee Delegation to the Lao People's Democratic Republic, the EU decided to provide about 50 million U.S. dollars to Laos for the period 2010-2013.

Over the next three years, the EU will be giving another 50 million U.S. dollars plus 14 or 15 million U.S. dollars to help Laos deal with the global recession and the country's food security, said Lipman.

Lipman said that the effect of the financial crisis on Laos did not seem to be very great compared to some other nations regarding tourism, remittance and employment.

The EU was also helping Laos in such areas as education, health and rural agriculture in the uplands to help Laos graduate from least developed nation status by 2020, said Lipman.