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|Many stores in the Old Quarter of Hanoi have closed in efforts to curb the spread of COVID-19 (Photo: VNA)|
“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.
He added that the bank 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.
The ADB President also commended the Vietnamese Government on its timely and effective actions to combat the pandemic. He welcomed its 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.
The lender has announced an initial support package of 6.5 billion USD to address the immediate needs of its developing member countries, including Vietnam, as they respond to the COVID-19 pandemic.
The bank said it will provide additional support as needed.