ADB President offers support for Vietnam's Covid-19 response

ADB President Masatsugu Asakawa. (Source: thedailynewnation.com)

“The Asian Development Bank stands ready to provide financial assistance and policy advice to help the Government of Viet Nam contain the spread of COVID-19,” said ADB President Masatsugu Asakawa. “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.”

Mr. Asakawa discussed options for ADB support in detail with Viet Nam’s Minister of Finance Dinh Tien Dung on March 20th 2020 and Governor of the State Bank of Viet Nam Le Minh Hung on March 24th 2020.

Mr. 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 March 18th 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. Mr. Asakawa said ADB will provide additional support as needed./.