The Asian Development Bank (ADB) is ready to provide Viet Nam with timely and flexible support for the government’s response to the novel coronavirus (COVID-19) pandemic.

“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 20 March and Governor of the State Bank of Viet Nam Le Minh Hung today.

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 18 March 2020, ADB announced a $6.5 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.

Visit ADB’s website to learn more about our ongoing response.

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.

This news release was originally posted on the ADB website.