Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Bangladesh 03 03 - Direct long-term lending BDT 50,000,000,000 588,581,519
Bangladesh 03A 03A - Long-term lending BDT 50,000,000,000 588,581,519 Ministry of Finance. https://mof.portal.gov.bd/sites/default/files/files/mof.portal.gov.bd/page/ed9e8b19_ccba_4cca_94b1_c40013f7a760/MTMPS_2020-21_English.pdf (accessed 29 June 6).

BDT50 billion for Special Fund for Salary support to export oriented manufacturing industry workers.

Bangladesh 03B 03B - Forbearance BDT Banglashesh Bank. https://www.bb.org.bd/ (accessed 29 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 15 May 2020).

BB took measures to waive credit card fees and interests, suspend loan interest payments.

Bangladesh 04 04 - Equity support BDT
Bangladesh 06 06 - Budget reallocation BDT
Bhutan 03 03 - Direct long-term lending BTN/INR
Bhutan 03A 03A - Long-term lending BTN/INR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 July 2020); PMO. https://bit.ly/3ggtGo2 (accessed 24 July 2020).

No amount/estimate: April, Loans to cottage and small industries through the National Cottage and Small Industries (CSI) Development Bank (microloans at 2% concessional interest for agriculture and rural activities and working capital loans at 4% concessional interest rate for 3 months). On June 26, the government announced that the CSI loan will be extended for another 12 months .

Bhutan 03B 03B - Forbearance BTN/INR Official Statement from the Office of the Prime Minister of Bhutan. https://bit.ly/2yrZXYx (accessed 29 April 2020); Royal Monetary Authority of Bhutan. https://www.rma.org.bt/pressrelease/Press%20Release%20on%20Interest%20Waiver%20on%20NPLs.pdf (accessed 12 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); PMO. https://bit.ly/3ggtGo2 (accessed 1 July 2020).

No amount/estimate: April, Deferment of loans for 3 months (April–June) (i) for all borrowers who had maintained their loan accounts in good standing, i.e., loans that were not non-performing loans (NPL) as of February 29; (ii) May, The RMA announced that the interest waiver facility would also be extended to non-performing loan accounts. The government will finance 50% of the total interest payment and the financial institutions offered to support the other 50%. On June 26, the government announced to further extend interest waiver for another nine months for loans availed as of April 10, 2020 (see Measure 5B) ; (iii) June 26, the government announced a new monetary measure, i.e., deferment of loans for one year without penal interest. For borrowers willing and able to service their loans during this period, financial institutions offered to reduce the interest rate by one percentage point as an added incentive.

Bhutan 04 04 - Equity support BTN/INR
Bhutan 06 06 - Budget reallocation BTN/INR 1,300,000,000 17,492,822 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).

April, A budget of BTN1.3 billion has been re-appropriated for health, essential food and fuel, quarantine and related initiatives.

European Central Bank 03 03 - Direct long-term lending EUR
European Central Bank 03A 03A - Long-term lending EUR
European Central Bank 03B 03B - Forbearance EUR
European Central Bank 04 04 - Equity support EUR
European Central Bank 06 06 - Budget reallocation EUR
European Union 03 03 - Direct long-term lending EUR 232,280,000,000 256,946,902,655
European Union 03A 03A - Long-term lending EUR 232,280,000,000 256,946,902,655 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EIB. https://www.eib.org/en/press/all/2020-103-eib-backs-eur5-billion-investment-to-mitigate-economic-impact-of-coronavirus-and-support-medical-technology (accessed 29 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 April 2020); EIB. https://www.eib.org/en/about/initiatives/covid-19-response/index.htm (accessed 18 July 2020); EIB. https://www.eib.org/en/press/all/2020-197-eib-approves-eur-16-6-billion-for-covid-19-health-response-and-economic-resilience-climate-clean-transport-energy-and-housing (accessed 18 July 2020); EIB. https://www.eib.org/en/press/all/2020-199-eib-provides-eur205-million-to-adif-alta-velocidad-to-promote-the-development-of-rail-infrastructure-in-spain (accessed 23 July 2020); EIB. https://www.eib.org/en/press/all/2020-198-italy-eib-provides-eur300-million-to-autonomous-province-of-trento-for-sustainable-projects-and-post-covid-19-reconstruction (accessed 23 July 2020); EIB. https://www.eib.org/en/press/all/2020-200-eib-backs-826-mw-mytilineos-power-plant-to-support-greek-energy-transition (accessed 23 July 2020); EIB. https://www.eib.org/en/press/all/2020-213-eib-supports-the-reconstruction-of-major-roads-in-montenegro-with-eur40-million (accessed 8 August 2020); EIB. https://www.eib.org/en/press/all/2020-216-team-europe-the-eib-s-lends-eur-10-million-to-credo-bank-under-its-georgia-outreach-initiative-to-support-msmes (accessed 8 August 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1507 (accessed 27 August 2020).

(i) March, the EIB dedicated EUR10 billion in asset-backed securities (ABS) purchasing programs to allow banks to transfer risk on portfolios of SME loans; (ii) April 24, Approved EUR5 billion in new financing for businesses affected by the coronavirus, and for the development of medical technology. EUR3 billion was dedicated to businesses in Spain and Italy. The approval represents an extension of the loan package first identified on March 16, 2020; (iii) May 26, the Board of Directors of the European Investment Bank (EIB) agreed on the structure and business approach of the new Pan-European Guarantee Fund (EGF) to tackle the economic consequences of the COVID-19 pandemic. It will enable the EIB Group to scale up its support for mostly small and medium-sized European companies, providing up to EUR200 billion of additional financing. Under this scheme, EIB in July 15 and 13 respectively, financed ZANINI Auto Group's innovation strategy with EUR25 million loan and provided Santander (Spanish commercial bank) with EUR757 million to help support SMEs and mid-caps ; (iv) July 15, EIB approves EUR16.6 billion for COVID-19 health response and economic resilience, climate, clean transport, energy and housing ; (vii) July 21, EIB provided EUR205 million in loans to Adif Alta Velocidad (Spanish rail network) to promote the development of rail infrastructure ; (v) July 21, EIB provided EUR300 million in loans to the Autonomous Province of Trento for sustainable projects and post-COVID-19 reconstruction; (vi) July 22, EIB provided EUR125 million in loans for Greece's 826 MW Mytilineos power plant to support energy transition; (vii) July 31, EIB signed a second tranche worth EUR40 million for the rehabilitation of 180 kilometres of road along the five main routes in Montenegro. The loan from the EU bank is complemented by a EUR1.5 million technical assistance grant awarded under the Economic Resilience Initiative (ERI). It is the first ERI grant to be awarded to a project in the Western Balkans. The total EIB investment worth EUR80 million is expected to increase road safety and efficiency and facilitate faster economic recovery and regional trade; (viii) August 3, the EIB will lend EUR10 million in synthetic local currency to Credo Bank, the leading actor on microfinance market in Georgia predominantly servicing enterprises in rural areas and agricultural sector. This is the second loan under the EIB's Georgia Outreach Initiative launched to improve access to finance for the country's MSMEs. Loans will be available under flexible terms to help maintain liquidity of MSMEs to continue operating and preserve jobs. The loan comes as a part of the immediate response to Covid-19 pandemic launched by the EU and its Team Europe and is facilitated by an EU grant.

European Union 03B 03B - Forbearance EUR
European Union 04 04 - Equity support EUR 549,000,000 607,300,885 EIB. https://www.eib.org/en/press/all/2020-103-eib-backs-eur5-billion-investment-to-mitigate-economic-impact-of-coronavirus-and-support-medical-technology (accessed 29 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 April 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1007 (accessed 12 June 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1507 (accessed 27 August 2020).

(i) April 8, The Commission is launching ESCALAR, a new investment approach, developed together with the European Investment Fund (EIF), that will support venture capital and growth financing for promising companies. In its pilot phase, ESCALAR will provide up to EUR300 million backed by the European Fund for Strategic Investments (EFSI); (ii) April 24, EIB also approved an equity investment worth EUR75 million for the German company Curevac, through the EIB's Infectious Disease Financing Facility; (iii) June 8, EUR174 million equity investments from the European Innovation Council (EIC) Accelerator Pilot funding to innovative startups and SMEs; (iv) June, EUR5.3 billion for the Solvency Support Instrument that will work via an EU guarantee provided to the European Investment Bank (EIB) Group under the European Fund for Strategic Investments (EFSI). Solvency support will form a separate window under the EFSI to mobilise private capital. The EIB Group will use this guarantee to provide financing directly or invest, fund or guarantee equity funds, special purpose vehicles, investment platforms or national promotional banks. These intermediary funds or vehicles must be established and operate in the EU. The Solvency Support Instrument should predominantly channel solvency support through financial market intermediaries and only to a lesser degree facilitate direct support to companies by the EIB Group [update].

European Union 06 06 - Budget reallocation EUR 1,000,000,000 1,106,194,690 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020).

March, the EIB redirected EUR1 billion from the EU Budget as a guarantee to the European Investment Fund to incentivize banks to provide liquidity to affected SMEs and mid-caps.

India 03 03 - Direct long-term lending INR
India 03A 03A - Long-term lending INR
India 03B 03B - Forbearance INR Press Information Bureau. https://pib.gov.in/PressReleseDetail.aspx?PRID=1633891 (accessed 2 July 2020). RBI. https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11909&Mode=0 (accessed 5 June 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 4 June 2020); RBI. https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11877&Mode=0 (accessed 30 April 2020).

No amount/estimate: (i) The RBI provided relief to both borrowers and lenders, allowing companies a 3-month moratorium on loan repayments. This moratorium was extended to end August; (ii) Provided subsidies to banks to reduce interest rates for short-term loans to farmers. On June 4, decided to continue the availability of 2% Interest Subvention (IS) and 3% Prompt Repayment Incentive (PRI) to farmers for the extended period of repayment up to August 31, 2020 or date of repayment, whichever is earlier, to prevent increases in interest rate during the extended moratorium period; (iii) June 24, Approved a scheme for interest subvention of 2% for a period of 12 months to all Shishu loan accounts under the Pradhan Mantri Mudra Yojana (PMMY). This scheme will only apply to certain loans that meet the criteria (e.g. outstanding as of 31 March 2020, not in Non-Performing Asset category).

India 04 04 - Equity support INR
India 06 06 - Budget reallocation INR
Maldives 03 03 - Direct long-term lending MVR
Maldives 03A 03A - Long-term lending MVR Ministry of Finance. https://www.finance.gov.mv/covid-19/businesses/covid19-recovery-loan-scheme/sme (accessed 28 August 2020); Ministry of Finance. https://www.finance.gov.mv/covid-19/individuals/covid-recovery-loan-scheme (accessed 28 August 2020). Ministry of Finance. https://www.finance.gov.mv/covid-19/businesses/covid19-recovery-loan-scheme/large-businesses(accessed 28 August 2020).

March 20, The Economic Recovery Plan was announced. The Plan includes: (i) COVID-19 Recovery Loan Scheme for SMEs wherein eligible SMEs may apply for loans up to 10% of its annual sales turnover for the past year (capped up to MVR500,000) at 6% interest per annum for a 3-year period. The repayment period excludes the grace period up to 6 months in which no interest is charged. Funding is contingent on SMEs not laying off local employees due to the COVID-19 outbreak and during the funding period. As of August 20, total disbursed amount is MVR209.9 million [update]; (ii) COVID-19 Recovery Loan Scheme for Self-employed and Freelance Individuals wherein eligible individuals may apply for loans up to MVR 30,000 at 6% interest per annum for a 3-year period. A grace period of up to 6 months is offered during which no interest is charged, and no payment of principal or interest is required Funding is conditional on the individual having worked in 6 of the last 12 months and earned a verifiable income during this period. As of August 20, total disbursed amount is MVR13 million [update]; and (iii) COVID-19 Recovery Loan Scheme for Large Businesses wherein funding is contingent on no layoffs of local employees due to COVID-19 outbreak at the time of application. For eligible businesses, this is an unsecured facility provided at 6% interest per annum for a 3-year period, including a maximum 6-month grace period in which no interest and principal payment will be made. As of August 20, total disbursed amount is MVR502.7 million [update].

Maldives 03B 03B - Forbearance MVR Maldives Monetary Authority. http://www.mma.gov.mv/#/news/PR-MCS-2020-3(english).html (accessed 13 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020); Ministry of Finance. https://www.finance.gov.mv/covid-19/individuals/debt-moratorium/bml (accessed 28 August 2020). Ministry of Finance. https://www.finance.gov.mv/covid-19/individuals/debt-moratorium/student-loan (accessed 28 August 2020). Ministry of Finance https://www.finance.gov.mv/covid-19/individuals/debt-moratorium/hdfc (accessed 28 August 2020). Ministry of Finance. https://www.finance.gov.mv/covid-19/businesses/debt-moratorium/bml (accessed 28 August 2020). Ministry of Finance. https://www.finance.gov.mv/covid-19/businesses/debt-moratorium/sdfc (accessed 28 August 2020). The Edition. https://edition.mv/news/18588 (accessed 28 August 2020).

No amount/estimate: April, The Maldives Monetary Authority announced introducing regulatory measures to enable a moratorium of 6 months on loan repayments for those impacted by the current situation. Customers have to submit their requests to the banks in order to avail themselves of this moratorium. Debt moratoriums have been included in the Plan to support individuals, households, and businesses facing difficulties in meeting monthly debt repayment: (i) All loans from the Bank of Maldives are eligible for the debt moratorium from 1st March 2020 until end of September 2020. The debt moratorium will allow BML customers to defer monthly principal and interest repayments for 6 months. At the same time the tenor of the loan will also be extended by 6 months allowing more time to repay the accrued interest and principal repayments. Compound interest will not be charged during the moratorium period. Following the moratorium period, the repayment amount would be reduced by 20% for a further 6 months; (ii) Those liable to repay student loans by the National Student Loan Scheme and Educational Assistance Loan Scheme entered a 6 months period of debt deferment on the 1st of March 2020; (iii) Individuals with Housing Finance loans issued by Housing Development Finance Corporation (HDFC) had the option of applying for a 6 months debt moratorium, which started on 1st March 2020, under the condition that regular payments have been made. The debt moratorium allows HDFC customers to defer monthly principal and interest repayments for 6 months. Consequentially the initial loan periods would be extended by an additional 6 months; (iv) Bank of Maldives customers with business loans are eligible for the debt moratorium from 1st March 2020 until end of September 2020. The debt moratorium will allow customers to defer monthly principal and interest repayments for 6 months. At the same time the tenor of the loan will also be extended by 6 months allowing more time to repay the accrued interest and principal repayments. Following the moratorium period, the repayment amount would be reduced by 20% for a further 6 month; and (v) SME Development Financing Corporation (SDFC) customers will be eligible for a 6 months debt moratorium starting from 1st March 2020. The debt moratorium will allow customers to defer monthly principal and interest repayments for 6 months. Moreover, in the course of the moratorium period, interest rates for all loans are reduced to 4% [update]. August 26, SDFC extended the repayment period for loans until the end of 2020 [update].

Maldives 04 04 - Equity support MVR
Maldives 06 06 - Budget reallocation MVR
Nepal 03 03 - Direct long-term lending NPR
Nepal 03A 03A - Long-term lending NPR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 September 2020).

No amount/estimate: May 28, The budget speech for fiscal year 2020/21 includes additional measures in the area of business support (a lending program for cottage, small and medium-sized enterprises and those in the tourism sector).

Nepal 03B 03B - Forbearance NPR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 September 2020); NRB. https://archive.nrb.org.np/bfr/circular/2076-77/2076_77_(Notice)--18-Covid-19_Related-new.pdf (accessed 6 July 2020).

No amount/estimate: (i) April 29, The NRB announced that banks will defer loan repayments due in April and May until mid-July. For working capital loans, banks will extend the repayment schedule of the amount due during the lockdown up to 60 days; (ii) Banks were instructed to provide a 10% discount on interest payments if paid timely, i.e. by mid-April.

Nepal 04 04 - Equity support NPR
Nepal 06 06 - Budget reallocation NPR
Sri Lanka 03 03 - Direct long-term lending LKR
Sri Lanka 03A 03A - Long-term lending LKR Sri Lanka, Department of Government Information. https://www.dgi.gov.lk/news/cabinet-decisions on 30 April 2020 and 11 June 2020 (accessed 10 July 2020).

No amount/estimate: (i) April 30, A new concessionary loan scheme titled ‘Aswenna’ will be introduced in May 2020 which will provide farmers with loans of up to LKR3 million; June 11: (ii) Under the post COVID-19 relief budget of the government, a 4% interest 5-year loan with a two-year grace period will be available for accommodation providers and destination management companies registered under Sri Lanka Tourism Development Association (SLTDA) to pay salaries of staff; (iii) A similar loan facility will also be available for establishments providing facilities to tourists registered under SLTDA including, restaurants, tourist friendly eating places, spa and wellness centers, spice gardens, tourist shops, and water sports centers, where state-owned Bank of Ceylon will directly remit a maximum of LKR15,000 per employee for up to 6 months.

Sri Lanka 03B 03B - Forbearance LKR CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/laws/cdg/mb_circular_no_4_of_2020_e.pdf (accessed 10 July 2020); CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20200331_central_bank_of_sri_lanka_decides_to-establish_a_rupees_50_billion_six_month_refinancing_facility_e.pdf (accessed 10 July 2020); CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/laws/cdg/bsd_circular_No_8_of_2020_e.pdf (accessed 3 September 2020).

No amount/estimate: (i) March, Wide-ranging debt moratoriums have been introduced by licensed banks, finance and leasing companies based on a directive by the Central Bank of Sri Lanka (CBSL) on 24 and 31 March 2020. These include (a) six-month moratorium (until end-September 2020) on both rupee and foreign currency term loans for affected businesses in SMEs, tourism, apparel, plantation, IT and related logistical services; and a three-month moratorium (until end-June 2020) on small-value personal banking loans and leasing for amounts less than LKR1 million; (b) licensed banks, finance and leasing companies have been requested to reschedule non-performing loans until end-September 2020; (c) licensed banks, finance, and leasing companies have been permitted, if required, to reclassify NPLs under the debt moratorium scheme above as performing loans; (d) temporary suspension of recovery actions under the debt moratorium scheme; (e) interest rate on credit cards capped at 15% for up to LKR50,000; the minimum monthly payment on the cards reduced by 50%; and repayment of all credit cards below the limit of LKR50,000 was extended until 30 April 2020; (ii) August 26, CBSL requested licensed commercial banks to extend the debt moratorium to COVID-19 affected businesses and individuals in the tourism sector for another six months from 1 October 2020 to 31 March 2021 [update].

Sri Lanka 04 04 - Equity support LKR
Sri Lanka 06 06 - Budget reallocation LKR
Bangladesh 03 03 - Direct long-term lending BDT
Bangladesh 03A 03A - Long-term lending BDT