|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 30 March 2020, 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).||
26 May 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 2020, 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).
|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).||
27 July 2020, 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|
|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||112,149,200,000||26,106,708,878|
|Malaysia||03A||03A - Long-term lending||MYR||11,250,000,000||2,618,837,004||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 (BNM). 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); BNM. https://www.bnm.gov.my/-/new-and-enhanced-financing-facilities-for-smes-affected-by-covid-19 (accessed 21 January 2021); BNM. https://www.bnm.gov.my/-/establishment-of-rm1-billion-high-tech-facility-national-investment-aspirations-htf-nia-1 (accessed 21 January 2021). BNM. https://www.bnm.gov.my/o/covid-19/index.html (accessed 21 January 2021).||
(i) 27 March 2020 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; (ii) 5 June 2020 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; (iii) 1 December 2020, As announced in the Budget 2021 speech, BNM is establishing a MYR2 billion Targeted Relief and Recovery Facility (TRRF). The facility is aimed at assisting eligible SMEs in the service sector. Eligible SMEs can obtain financing for working capital purposes of up to MYR500,000 for a tenure of up to 7 years, including a repayment moratorium of at least 6 months. The facility is offered at a rate of up to 3.5% per annum and is available through 21 participating financial institutions (PFIs), with guarantee coverage by Credit Guarantee Corporation (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP); (iv) 15 December 2020, As announced in the Budget 2021 speech, BNM is establishing a MYR1 billion High Tech Facility-National Investment Aspirations (HTF-NIA). The facility is aimed at supporting high-tech and innovation-driven SMEs affected by COVID-19 to recover and revitalize the nation’s innovation capacity. Eligible SMEs include: (a) those in advanced manufacturing and service sectors, and (b) SME project participants in key government programs involved in research, development, and innovation for critical technologies. Eligible SMEs can obtain financing of up to MYR1 million for working capital purposes; up to MYR5 million to finance capital expenditure; or a combination of working capital and capital expenditure up to MYR5 million, for a tenure of up to 7 years. This facility is offered at a financing rate of up to 3.5% per annum for financing without guarantee or up to 5% per annum inclusive of guarantee fee (with guarantee coverage by Credit Guarantee Corporation Malaysia Berhad [CGC]).
|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); Prime Minister's Office of Malaysia. https://www.pmo.gov.my/2021/01/special-announcement-on-the-perlindungan-ekonomi-rakyat-malaysia-permai-assistance-package/ (accessed 21 January 2021).||
(i) 27 March 2020 in PRIHATIN: (a 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; (b) 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; (c) 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; (ii) 18 January 2021 in PERMAI, No amount/estimate: (a) The moratorium facility, including extension of the moratorium and restructuring of loan repayment will continue to be offered by banks as announced previously. For flood-affected states, 15 banks have offered the loan repayment moratorium. For borrowers facing difficulties in dealing with banks, Bank Negara Malaysia and the Credit Counselling and Debt Management Agency (AKPK) are ready to assist and advise borrowers through the telephone or online; (b) For PTPTN borrowers affected by the COVID-19 pandemic or floods, they can apply for a three-month PTPTN loan repayment moratorium. Application for this moratorium can be made until 31 March 2021; (c) For MARA borrowers, MARA will continue its MARA PRIHATIN Peace of Mind 2.0 Program, where borrowers can apply to reschedule the repayment of MARA education loan facilities, or for business loan moratorium until 31 March 2021. In addition, MARA entrepreneurs affected by COVID-19, MCO and the floods can apply for the MARA business financing rescheduling program.
|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 2020, 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||28,518,000,000||560,235,425|
|Philippines||03A||03A - Long-term lending||PHP||28,518,000,000||560,235,425||DOF. 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; PDI. https://business.inquirer.net/304020/dti-secures-another-p1b-for-cares-program (accessed 29 and 31 July 2020). Manila Times. https://www.manilatimes.net/2020/10/10/business/business-top/landbank-lgu-lending-fund-hiked-to-p20b/778553/ (accessed 5 November 2020).||
(i) PHP10 billion Land Bank of the Philippines loan program for LGUs to increase their emergency funding. As of 10 October 2020, an additional PHP10 billion has been made available; (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 29 July 2020, 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 7 July 2020, PHP260 million have been approved; (vi) 10 July 2020, 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||DOF.||
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) 28 April 2020, 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) 26 March 2020, SGD20 billion in loan capital under the Resilience Budget to support good companies with strong capabilities (part of the SGD92.9 billion in Measure 5C); (ii) 27 March 2020, 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). MAS. https://www.mas.gov.sg/news/media-releases/2020/mas-and-financial-industry-extend-support-for-individuals-and-smes (accessed 15 October 2020).||
No amount/estimate: (i) 7 April 2020, Deferral of certain contractual obligations such as rent and loan payments businesses and individuals; (ii) 3 June 2020, Authorities announced enhanced credit relief for individual and SME landlords in the form of principal and interest payment deferrals to 31 December 2020 and extension of loan tenure up to the corresponding deferment period on an opt-in basis; (iii) 5 October 2020, The MAS, together with the Association of Banks in Singapore and the Finance Houses Association of Singapore, announced the extension of forbearance measures involving reduced installment payments for property loans, extended loan tenures for renovation and student loans, debt consolidation and restructuring, and deferred principal payments for SME loans.
|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). Ministry of Industry. http://www.industry.go.th/industry/index.php/th/about/2017-04-20-15-23-14/item/41473-smes-2. (accessed 15 October 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) 30 April 2020, 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. (iii) No amount/estimate: 10 October 2020, The Ministry of Industry unveiled new credit lines with a maximum term of 5 years for both new and existing SME borrowers of the SME Development Fund.
|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: 11 May 2020, 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||320,000,000,000,000||13,772,326,232|
|Viet Nam||03A||03A - Long-term lending||VND||20,000,000,000,000||860,770,389||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). Nikkei Asia. https://asia.nikkei.com/Business/Transportation/Hanoi-lawmakers-approve-520m-rescue-of-Vietnam-Airlines (accessed 18 November).||
(i) The SBV is instructed to provide refinancing with 0% interest rate to 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) 30 May 2020, 2% reduction in interest rates for direct and indirect loans to SMEs from the SME Development Fund. (iii) See VND4 trillion soft loan component of Vietnam Airlines' rescue package in (xvii) in Measure 4.
|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 23 January 2020 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).