ADB offers support for Vietnam's Covid-19 response
  • | | March 25, 2020 10:13 AM
The Asian Development Bank (ADB) is ready to provide Vietnam with timely and flexible support for the government’s response to the novel coronavirus (COVID-19) pandemic.

A doctor at the National Hospital for Tropical Diseases in Hanoi

According to ADB President Masatsugu Asakawa, the bank stands ready to provide financial assistance and policy advice to help the Government of Vietnam contain the spread of COVID-19.

"We will consider all options, including quick-disbursing budget support, policy-based lending, and expedited disbursement of existing loans, to ensure any support package can be approved quickly and disbursed in a timely manner,” he said.

The bank's leader discussed options for their support in detail with Vietnam’s Minister of Finance Dinh Tien Dung on 20 March and Governor of the State Bank of Vietnam Le Minh Hung on March 24.

Asakawa commended the government on its timely and effective actions to combat the pandemic. He welcomed the government’s focus on maintaining economic stability and growth in the medium and long-term, including through expanding public investment expenditure and strengthening social safety nets for poor and vulnerable households.

On 18 March 2020, ADB announced a USD6.5 billion initial package to address the immediate needs of its developing member countries as they respond to the COVID-19 pandemic.  Asakawa said ADB will provide additional support as needed.

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