|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Brunei Darussalam||03||03 - Direct long-term lending||BND||450,000,000||318,122,907|
|Brunei Darussalam||03A||03A - Long-term lending||BND|
|Brunei Darussalam||03B||03B - Forbearance||BND||450,000,000||318,122,907||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020); Autoriti Monetari Brunei Darussalam. https://ambd.gov.bn/Lists/News/Displayitem.aspx?ID=462 (accessed 15 April 2020).||
On March 30, the Ministry of Finance and Economy (MOFE) announced additional financial support measures amounting to an estimated total of BND250 million, effective April 1. This Economic Relief Package (i) extends the deferment on principal payments of financing or loan to all sectors, (ii) provides for the restructuring or deferment on principal repayment of personal loans and hire purchase such as car financing, for a period not exceeding 10 years, (iii) provides for the deferment on principal repayments of property financing, (iv) provides for the conversion of any outstanding credit card balances into term loans not exceeding 3 years for affected individuals in the private sector only (including the self-employed), and (v) waiver of all bank fees/charges related to these facilities (except third party charges). Coupled with the earlier fiscal assistance, these measures will increase the value of Brunei’s Economic Stimulus Package to a total of BND450 million (or 3.2% of GDP).
|Cambodia||03||03 - Direct long-term lending||KHR|
|Cambodia||03A||03A - Long-term lending||KHR||Royal Government of Cambodia (RGC). http://auschamcambodia.com/wp-content/uploads/2020/05/fourth-round-of-stimulus-measures.pdf (accessed 11 June 2020).||
(i) Adjust the special financing plan of USD50 million through the Agricultural and Rural Development Bank (ARDB) and extend the provision of loans from this plan to the small and medium enterprises (SMEs) cluster; (ii) Adjust a special financing plan of USD100 million between SMEs and financial institutions to extend the coverage of loans to the enterprises in the medical equipment and medicine production sectors (See Measure 10: No breakdown).
|Cambodia||03B||03B - Forbearance||KHR||International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
No amount/estimate: April, The National Bank of Cambodia (NBC) has also issued guidelines to financial institutions on loan restructuring for borrowers experiencing financial difficulties (but still performing) in priority sectors (tourism, garments, construction, transportation and logistics).
|Denmark||03||03 - Direct long-term lending||DKK||1,500,000,000||222,073,276|
|Denmark||03A||03A - Long-term lending||DKK||1,500,000,000||222,073,276||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020).||
March 19, DKK1.5 billion expected increase in the utilization of Danish students’ Loan Scheme that was temporarily extended.
|Denmark||03B||03B - Forbearance||DKK|
|Indonesia||03||03 - Direct long-term lending||IDR||695,200,000,000,000||45,753,175,358|
|Indonesia||03A||03A - Long-term lending||IDR||695,200,000,000,000||45,753,175,358||Reuters. https://www.reuters.com/article/us-indonesia-economy/indonesia-says-to-lend-more-to-regions-to-support-economy-idUSKCN24S0EO?il=0 (accessed 27 July 2020). MOF. https://www.kemenkeu.go.id/publikasi/berita/pinjaman-ke-daerah-salah-satu-upaya-pemerintah-dukung-pemulihan-ekonomi-nasional/; https://www.kemenkeu.go.id/publikasi/berita/ini-relaksasi-pinjaman-daerah-yang-meringankan-pemerintah-daerah/ (accessed 7 August 2020).||
July 27, INR15 trillion loan scheme for the provincial governments of Jakarta and West Java and INR11.5 trillion lending for provincial governments to support economic recovery to be funded by proceeds from central bank purchases of government bonds. These are part of the new IDR695.2 trillion loan program announced by the government as part of the National Economic Recovery (PEN) program consisting of financing support to regional and local goverments, and fund placements in regional development banks.
|Indonesia||03B||03B - Forbearance||IDR|
|Japan||03||03 - Direct long-term lending||JPY|
|Japan||03A||03A - Long-term lending||JPY||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020)||
Concessional loans from public and private financial institutions (included in the amount of the Emergency Economic Package Against COVID-19; see Measure 5).
|Japan||03B||03B - Forbearance||JPY|
|Lao PDR||03||03 - Direct long-term lending||LAK|
|Lao PDR||03A||03A - Long-term lending||LAK|
|Lao PDR||03B||03B - Forbearance||LAK|
|Malaysia||03||03 - Direct long-term lending||MYR||109,149,200,000||25,408,352,344|
|Malaysia||03A||03A - Long-term lending||MYR||8,250,000,000||1,920,480,469||Prime Minister's Office of Malaysia. https://www.pmo.gov.my/wp-content/uploads/2020/04/Booklet-PRIHATIN-EN.pdf (accessed 19 April 2020); Bank Negara Malaysia. https://www.bnm.gov.my/covid19/bnmfunds.php (accessed 26 June 2020); Ministry of Finance. https://penjana.treasury.gov.my/pdf/PENJANA-Booklet-En-v3.pdf (accessed 26 June 2020). Prime Minister's Office of Malaysia. https://www.pmo.gov.my/2020/07/teks-ucapan-perkembangan-terkini-perintah-kawalan-pergerakan-pemulihan-pkpp/ (accessed 22 July 2020). 16th Laksana Report. https://www.treasury.gov.my/pdf/Speech-16th-Laksana-Report-Implementation-Of-PRIHATIN.pdf (accessed 14 August 2020).||
(i) March 27 in PRIHATIN: (a) Increasing the size of the All Economic Sector Facility Fund by MYR1 billion to MYR6.8 billion to enhance access to financing for SMEs. The maximum tenure is 5 years; (b) Increasing the size of the Special Relief Facility (SRF) fund by MYR3 billion to MYR5 billion for small and medium-sized enterprises (SMEs). The maximum tenure is 5.5 years including 6 months moratorium; and (c) Providing additional funds of MYR500 million under the Micro Credit Scheme to a total of MYR700 million for soft loans at 2% interest rate without collateral. Loan eligibility requirements are also relaxed to a minimum of 6 months of operation compared to 1 year of operation. The maximum tenure is 5 years. As of July 20, 7,000 people received BSN micro credit facility with a total value of MYR247 million and more than 23,000 people received TEKUN micro credit facility with a total value of MYR177 million. As of July 31, approved applications by local banks and accepted by SMEs amounted to MYR9.63, and this will benefit 21,410 SMEs. This total includes the Special Relief Facility, Automation & Digitalisation Facility, All-Economic Sector Facility, and Agrofood Facility funds.; (ii) June 5 in Short-term National Economic Recovery Plan or PENJANA: (a) The Government will continue to provide loans to eligible enterprises for adoption or subscription of digitalization services under the SME Technology Transformation Fund totalling MYR500 million loan; (b) Under PENJANA SME Financing Facility, the banking sector will offer an additional MYR2 billion of funding to assist SMEs adversely impacted by COVID-19 sustain business operations at a concession rate of 3.5%; (c) PENJANA microfinancing, amounting to MYR400 million is a new funding program for SMEs and microenterprises at an interest rate of 3.5%. Aggregated approved financing will be capped at MYR50,000 per enterprise, and MYR50 million is earmarked for women entrepreneurs; (d) Bumiputera Relief Financing amounting to MYR500 million: (1) Perbadanan Usahawan Nasional Berhad (PUNB) will provide MYR200 million dedicated financial assistance for Bumiputera-owned businesses in the form of working capital, operational expenditure, system automation, equipment and expenditure to implement social distancing practices (eg. on PPEs), and financing of MYR100,000 – MYR1 million for up to 5 years at 3.5% per annum interest rate with moratorium of up to 6 months from disbursement; and (2) Through Majlis Amanah Rakyat (MARA) the Government will also allocate MYR300 million working capital loans to assist affected Bumiputera entrepreneurs including training colleges. Maximum loan amount of MYR1 million with 3.5% per annum interest rate; (e) Part of the Agriculture and Food Sector Support amounting to MYR350 million is allocated to microcredit financing under Agrobank for agropreneurs (including commodity players) with interest rate of 3.5%. Maximum loan size is MYR50,000, and tenure of loan is 5 years.
|Malaysia||03B||03B - Forbearance||MYR||100,899,200,000||23,487,871,875||Prime Minister's Office of Malaysia. https://www.pmo.gov.my/wp-content/uploads/2020/04/Booklet-PRIHATIN-EN.pdf (accessed 19 April 2020); Bank Negara Malaysia. https://www.bnm.gov.my/covid19/indiv.php (26 June 2020). Malay Mail. https://www.malaymail.com/news/malaysia/2020/07/29/pm-govt-agrees-to-three-month-loan-moratorium-extension-but-only-for-the-jo/1889194 (accessed 31 July 2020). 16th Laksana Report. https://www.treasury.gov.my/pdf/Speech-16th-Laksana-Report-Implementation-Of-PRIHATIN.pdf (accessed 14 August 2020).||
27 March 2020 in PRIHATIN: (i) To assist SMEs and individuals, the Government welcomes the willingness of banking institutions to offer a 6-month moratorium, convert credit card balance to term loans and restructure corporate loans. This measure, amounting to MYR100 billion, is vital to enabling companies to retain employment and immediately resume their business activities. In return, the Government agrees that the bank’s income from interest or profit from loans or financing during the moratorium will only be taxable when the income is received after the moratorium period. 29 July 2020, The government has agreed to further extend the bank loan moratorium for the public. The targeted moratorium extension will run for three months but only for those who lost their jobs this year and are yet to find employment, after that period banks can further extend the help based on individual situation. As for those who are still employed but seen their wages reduced or affected owing to the COVID-19 pandemic, the amount of their monthly loan commitments would be reduced, in line with the quantum of their salary deduction; (ii) The Government has previously agreed to defer the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) loan repayment for all borrowers for six months, amounting to MYR750 million; (iii) The Government agrees to postpone loan repayment to borrowers of the Skills Development Fund Corporation (PTPK) for the same period beginning April 1 to September 30. With an estimated collection of MYR149.2 million, this initiative will benefit 174,500 borrowers.
|Myanmar||03||03 - Direct long-term lending||MMK||100,000,000,000||71,326,676|
|Myanmar||03A||03A - Long-term lending||MMK||100,000,000,000||71,326,676||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
April, A COVID 19 Fund worth MMK100 billion (USD70 million, 0.1% of GDP) has been established at the Myanmar Economic Bank to provide soft loans to affected business (particularly the priority garment and tourism sectors and small and medium enterprises [SMEs]) at reduced interest rates.
|Myanmar||03B||03B - Forbearance||MMK|
|Philippines||03||03 - Direct long-term lending||PHP||18,518,000,000||363,785,665|
|Philippines||03A||03A - Long-term lending||PHP||18,518,000,000||363,785,665||Department of Finance. https://www.dof.gov.ph/over-80-schools-eyeing-landbanks-academe-credit-program/ (accessed 7 July 2020). PDI. https://business.inquirer.net/303795/govt-to-reopen-loan-program-for-msmes; https://business.inquirer.net/304020/dti-secures-another-p1b-for-cares-program (accessed 29 and 31 July 2020).||
(i) PHP10 billion Land Bank of the Philippines loan program for LGUs to increase their emergency funding. (ii) PHP2.8 billion additional funding for DA’s Survival and Recovery Assistance Program (SURE Aid)for affected farmers and fishers. (iii) PHP1.203 billion for DTI loan program for micro, small, and medium enterprises (MSMEs) for enterprise development training and livelihood kits. As of July 29, the Department of Trade and Industry announced a new funding source worth PHP3 billion for its CARES lending program for MSMEs. A further PHP1 billion in additional funding was secured from state-owned banks. (iv) Up to PHP15 million loan assistance from the DA for micro and small enterprises engaged in agriculture and fisheries production. (v) PHP3 billion lending program for "study now, pay later" schemes in private schools by the Land Bank of the Philippines. As of July 7, PHP260 million have been approved. (vi) July 10, PHP1.5 billion LBP I-Study lending program offering short-term (<1 year) loans for preschool to secondary students and term loans (up to 3 years) for tertiary students.
|Philippines||03B||03B - Forbearance||PHP||Department of Finance||
No amount/estimate: (i) Implementation of a minimum 30-day grace period for payment of all loans, without incurring interest on interest, penalties, or other charges; (ii) April 28, Pursuant to Republic Act No. 11469 entitled “Bayanihan to Heal as One Act”, the suspension of acceptance of installment payments for Bangko Sentral ng Pilipinas (BSP) properties purchased on installment basis is extended until 31 May 2020, and additional interest or penalties will not be imposed.
|Singapore||03||03 - Direct long-term lending||SGD||29,700,000,000||20,967,172,609|
|Singapore||03A||03A - Long-term lending||SGD||29,700,000,000||20,967,172,609||SingaporeBudget.gov. https://www.singaporebudget.gov.sg/budget_2020/resilience-budget/supplementary-budget-statement (accessed 30 May 2020).||
(i) March 26, SGD20 billion in loan capital under the Resilience Budget to support good companies with strong capabilities (also see Measure 5B). (ii) March 27, Up to SGD9.7 billion in convertible notes as part of SIA's fundraising underwritten by state-investor Temasek Holdings (see Measure 4).
|Singapore||03B||03B - Forbearance||SGD||GOV.SG. https://www.gov.sg/article/temporary-relief-for-businesses-and-individuals-unable-to-fulfil-contractual-obligations (accessed 28 April 2020). MAS. https://www.mas.gov.sg/news/media-releases/2020/additional-loan-and-cashflow-support-for-landlords-and-businesses-affected-by-covid-19 (accessed 4 June 2020).||
No amount/estimate: (i) April 7, Deferral of certain contractual obligations such as rent and loan payments businesses and individuals. (ii) June 3, Authorities announced enhanced credit relief for individual and SME landlords in the form of principal and interest payment deferrals to December 31 and extension of loan tenure up to the corresponding deferment period on an opt-in basis.
|Thailand||03||03 - Direct long-term lending||THB||450,000,000,000||14,015,297,910|
|Thailand||03A||03A - Long-term lending||THB||450,000,000,000||14,015,297,910||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 April 2020). OECD. http://www.oecd.org/coronavirus/en/ (accessed 8 May 2020).||
(i) The Corporate Bond Stabilization Fund (BSF) was established to provide bridge financing of up to THB400 billion to high-quality firms with bonds maturing during 2020–2021, at higher-than-market ‘penalty’ rates (includes both public and private participants). (ii) April 30, The State Enterprise Policy Committee meeting approved in principle the proposal to rehabilitate Thai airways international, the national carrier, with a loan worth THB50 billion.
|Thailand||03B||03B - Forbearance||THB||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 29 April 2020).||
No amount/estimate: Loan payment holiday of 6 months for SMEs and suspension of principal.
|Timor-Leste||03||03 - Direct long-term lending||USD|
|Timor-Leste||03A||03A - Long-term lending||USD|
|Timor-Leste||03B||03B - Forbearance||USD||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 May 2020).||
No amount/estimate: May 11, the authorities introduced a moratorium on the fulfillment of capital and interest obligations arising from credit agreements, which delayed maturities by up to three months and reduced debtors’ interest payment obligation to 40% of the original amount with the remaining 60% financed by the government.
|Viet Nam||03||03 - Direct long-term lending||VND||316,000,000,000,000||13,600,172,154|
|Viet Nam||03A||03A - Long-term lending||VND||16,000,000,000,000||688,616,312||Government Resolution 42/NQ-CP dated 9 April 2020 on the assistance to people affected by Cov-19 pandemic; Prime Minister's Decision 15/2020/QD-TTg dated 24 April 2020 on implementation of policies on assistance for people affected by Cov-19 pandemic. SBV. https://www.sbv.gov.vn/webcenter/portal/vi/menu/trangchu/ttsk/ttsk_chitiet?leftWidth=20%25&showFooter=false&showHeader=false&dDocName=SBV411629&rightWidth=0%25¢erWidth=80%25&_afrLoop=7383442037939412#%40%3F_afrLoop%3D7383442037939412%26centerWidth%3D80%2525%26dDocName%3DSBV411629%26leftWidth%3D20%2525%26rightWidth%3D0%2525%26showFooter%3Dfalse%26showHeader%3Dfalse%26_adf.ctrl-state%3Dp3764aoqq_95 (accessed 11 June 2020).||
(i) The SBV is instructed to provide refinancing with 0% interest rate to Viet Nam Bank for Social Policies (VBSP) for providing unsecured loans with 0% interest rate to affected firms for making suspension pay to their workers. The total loan value is estimated at VND16 trillion (0.3% of GDP). (ii) May 30, 2% reduction in interest rates for direct and indirect loans to SMEs from the SME Development Fund.
|Viet Nam||03B||03B - Forbearance||VND||300,000,000,000,000||12,911,555,842||SBV's Circular 01/2020/TT-NHNN dated 13 March 2020 on debt rescheduling, exempting and reducing interest rates/fees, and retaining restructured debts in the same debt category as before restructuring||
The authorities announced a credit package totaling VND300 trillion (about 5% of GDP) from the banking sector for affected firms and households through debt rescheduling, exempting, and reducing interests/fees, retaining restructed debts in the same debt category as before restructuring . This is time-bound from Jan 23 to 3 months after the Prime Minister’s announcement of the ending of COVID-19 epidemic; Banks have been exempting and reducing fees (including interbank transaction fees for small amounts, and credit information subscription fees).
|Brunei Darussalam||03||03 - Direct long-term lending||BND||250,000,000||176,734,948|
|Brunei Darussalam||03A||03A - Long-term lending||BND|
|Brunei Darussalam||03B||03B - Forbearance||BND||250,000,000||176,734,948||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020); Autoriti Monetari Brunei Darussalam. https://ambd.gov.bn/Lists/News/Displayitem.aspx?ID=462 (accessed 15 April 2020).||
Effective April 1, (i) businesses in the tourism, hospitality/event management, restaurants/cafes, and air transport sectors (“Affected Sectors”) will be given a six-month deferment of their principal repayments of financing/loans, and (ii) the deferment is also extended to importers of food and medical supplies. The authorities have also introduced an economic relief package, in the form of (a) deferment of principal payment of loans/financing for all sectors, (b) restructuring and deferment of principal amounts on personal loans and hire purchase facilities such as car loans or financing (for not more than 10 years), (c) provision of deferment of principal amount or financing for real estate, (d) restructuring the outstanding credit card balance, and (e) loans for a period of not more than three years for individuals affected in the private sector only (including the self-employed), which will be available for eligible companies and individuals effective from April 1, 2020 to March 31, 2021. This economic relief package, in the form of deferment of principal or loan repayment and exemption of fees and charges is approximately BND250 million.