World Bank provides VN US$ 6.2 billion for covid-19 fight
15:00 | 31/07/2020

VGP - The World Bank and the State Bank of Viet Nam on July 30 signed a US$6.2 million to supporting Viet Nam’s economic recovery and protecting the most vulnerable from the negative impacts of the COVID-19 pandemic.

World Bank provides VN US$ 6.2 billion for covid-19 fight

The project is financed by the Pandemic Emergency Financing Facility (PEF) through its insurance window allocation to Viet Nam.

The project will strengthen the capacity of laboratory systems at the National Institute of Hygiene and Epidemiology (NIHE) and other lab systems nationwide by helping to improve the ability to evaluate community immunity to COVID-19.

In addition, the grant will fund the provision of equipment to improve the capacity of the Centre for Research and Production of Vaccines and Biologicals (POLYVAC) for research and development of new vaccine and quick diagnostic tests.

The project is expected to support 200 laboratories involved in COVID-19 surveillance and testing in hospitals and provincial Centres for Disease Control nationwide. Support to NIHE and POLYVAC, Viet Nam’s leading public health and vaccine research and production institutions, will directly contribute to improving the country’s capacities to detect and respond to COVID-19.

“The COVID-19 situation in Viet Nam is evolving quickly,” said Stefanie Stallmeister, Acting Country Director for the World Bank in Viet Nam.

“This emergency operation will not only support the government to quickly monitor and respond to COVID-19 but also contribute to building a resilient health system for future health emergencies.”

As the COVID-19 has reached more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. 

This financing is designed to help member countries take effective action to respond to and, where possible, lessen the tragic impacts posed by the COVID-19.

The World Bank Group help developing countries strengthen health systems, including better access to health services to safeguard people from the epidemic, strengthen disease surveillance, bolster public health interventions, and work with the private sector to reduce the impact on economies.

Ealier, the World Bank Group and the Australian government committed a further AUD5 million (US$3.4 million) to supporting Viet Nam’s economic recovery and protecting the most vulnerable from the negative impacts of the COVID-19 pandemic.

                                                                                                    By Vien Nhu

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