World Bank lends $ 221 million to Vietnam for economic recovery from Covid-19


The World Bank signed an agreement with Vietnam worth $ 221.5 million to finance the country’s recovery from the coronavirus pandemic.

The government of Vietnam and the World Bank signed a US $ 221.5 million funding agreement to support Vietnam’s recovery from the COVID-19 pandemic through policy reforms aimed at improving financial inclusion and to stimulate greater environmental resilience, “said the World Bank statement on Monday.

The loan will be granted in the form of budget support for a period of 30 years with a grace period of five years, according to the press release.

Lending-related reforms will include alleviating the existing tax burden on business entities, improving access to financial assistance for vulnerable groups and reducing gender gaps in the workplace, adds the press release.

The environmental part of the stimulus package will focus on green trade policies, accelerating the adoption of e-government and the adoption of renewable energy, the statement said.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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