Female workers in informal sector with considerable economic impacts due to the pandemicget financial support

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This is apart of supporting activities from the partnership between Mastercard and CARE International in Vietnam to support local women.The cash transfer symbolic ceremony takes place today Hanoi with the participation of representatives of the recipients, JupViec.vn and CARE International in Vietnam.

Each woman has received up to 3 million VND (around USD 130) via direct bank transfer. The support amount differs, depending on individual circumstances and financial damage caused by the COVID-19 outbreak.

"These women working in the informal sector are among the most vulnerable populations and most affected by the pandemic. During this time of uncertainties, the economic crisis caused by the outbreak may hit harder than the coronavirus itself, that protecting and supporting the people have never been more critical. Our end goal is to empower and help them to overcome this difficult time. We hope that by assisting in this way, the recipients can be more proactive and flexible in deciding their usage, spending the money according to their situation and priority," said Le Kim Dung, Country Director, CARE International in Vietnam.

While social distancing in place, female workers in informal employment suffered from declining working hours, or even job losses. This led togreater financing pressures for the women that they still have to pay for living expenses, energy bills, etc. while having either less or no income.

For part-time house cleaners who also have other side jobs such as online food shop owners, tailors, manicurist, waste collectors, etc., this money is also used to invest in their small businesses. For those who work full-time as house cleaners at JupViec.vn, they intend to use the money to buy more cleaning equipment as well as to cover the cost of transportation, phone bills, and data usage when using the app for their work. 

Winnie Wong, Country Manager of Mastercard shared: “Mastercard highly appreciates the National Steering Committees’ preventive efforts againstthe pandemic, making Vietnam one of the first few countries to open up, and the first in Southeast Asia to move forward to post COVID-19.  

To drive a robust recovery and financial inclusion, there is a need to include all participants of the economy andleave no one behind. That’s why Mastercard has joined this collaboration to provide financial support to women who are engaged in lower economic activities in informal employmentand falling behind in terms of social security and economic stability. 

Mastercard hopes that the financial support, as part of the ongoing partnership with CARE International in Vietnam, willhelp these women improve their life conditions, recover from temporary financial hardships,and provide a safe return for them to work after thepandemic.”

The activity demonstrates Mastercard and CARE’s commitment to contribute to the overall effort of Vietnamin driving a strong economic recovery.Besides, the two partners are also working in larger efforts to ignite the potential of Vietnam’s women community that plays a vital role in promoting economic growth and reducing income inequality and poverty in the national economy.