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ADB to provide flexible support for Vietnam's Covid-19 response
By Thanh Thom
Wednesday,  Mar 25, 2020,10:04 (GMT+7)

ADB to provide flexible support for Vietnam's Covid-19 response

By Thanh Thom

Health workers take samples from a man suspected of contracting the novel coronavirus – PHOTO: VNA

HCMC – The Asian Development Bank (ADB) on March 24 noted that it is ready to provide Vietnam with timely and flexible support for the Government’s response to the novel coronavirus pandemic, acknowledging the country’s strong efforts to contain the disease and bolster the economy.

“The Asian Development Bank stands ready to provide financial assistance and policy advice to help the Government of Vietnam contain the spread of Covid-19,” ADB President Masatsugu Asakawa said in a statement.

“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.” 

Asakawa discussed options for ADB’s support in detail with Vietnamese Minister of Finance Dinh Tien Dung on March 20 and with 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 Covid-19, the disease caused by the coronavirus. He welcomed the Government’s focus on maintaining economic stability and growth in the medium and long term through expansions of public investment expenditure and the strengthening of social safety nets for poor and vulnerable households.

On March 18, ADB announced a US$6.5 billion initial package to address the immediate needs of its developing member countries as they respond to the coronavirus pandemic.

Asakawa stressed that ADB would provide additional support as needed.

ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 from the region.

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