WB to Offer $550M Package for Vietnam’s Health Sector, Economic Recovery

The World Bank (WB) has pledged to deliver a combined assistance package worth $550 million to Vietnam, which consists of a $50 million support for the health sector and a $500 million package for the local government’s economic recovery activities, local media reported. The two sub-packages are allocated in the WB’s global program that includes the $14 billion of immediate worldwide support and the $150-billion financial assistance to recover global economic activities. The $50-million package for Vietnam may be disbursed within the next two weeks. Mr. Jacques Morisset, the World Bank Lead Economist and Program Leader for Vietnam, said the WB is working with the Vietnamese government on solutions to overcome difficulties caused by the ongoing coronavirus disease (COVID-19). The measures will focus on four key pillars, namely (i) the support for the people and businesses directly hit by the COVID-19 pandemic, (ii) the economic stimulus packages to re-activate the economy when the pandemic ends, including the acceleration of public investments and consumer demands for the service sector, (iii) the promotion of digital economy, and (iv) the resilience of the economy for future diseases. WB’s Country Director in Vietnam Ousmane Dione urged Vietnam to improve the strength of the health system as the disease is significant and may occur not only once. (CafeF, Thoi Bao Tai Chinh Vietnam, Soha, Bao Dan Sinh, NetNews)