(Vietnam/Ho Chi Minh City – May 14, 2020) As businesses and communities in Vietnam emerge from the COVID-19 social distancing, Mastercard, along with Mastercard Center for Inclusive Growth, is collaborating with the non-governmental organization CARE to provide direct assistance to some of those on the frontlines of the country’s economic recovery – Vietnam’s women entrepreneurs. As part of the collaboration, Mastercard and CARE will be providing both funds and expertise that will enable 1,000 women microentrepreneurs in Hanoi and Ho Chi Minh City to drive a robust recovery followed by sustained long-term inclusive growth.

Part of the funds will be disbursed in the form of emergency cash and electronic transfers to help small, informal businesses kickstart their operations as the economy reopens, while giving women flexibility to support their families financially. In addition to providing women entrepreneurs with near-immediate assistance, the partners will be working together to bolster these businesses moving forward, creating stability and employment opportunities that will benefit their communities in the future.

Read the full press release here.