Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Arab Republic of Egypt 03 03 - Direct long-term lending EGP 110,000,000,000 6,999,693,979
Arab Republic of Egypt 03A 03A - Long-term lending EGP 110,000,000,000 6,999,693,979 Central Bank of Egypt. https://www.cbe.org.eg/en/Pages/HighlightsPages/Circular-dated-18-June-2020-regarding-including-medium-start-ups-and-small-companies-related-to-large-groups-in-the-8-initi.aspx (accessed 19 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 August 2020).

(i) No amount/estimate: Loans with a two-year grace period will be made available to aviation sector firms; (ii) No amount/estimate: Central Bank introduced credit lines that can be paid over a maximum of two years with a six-month grace period, specifically for tourism enterprises to facilitate paying of salaries and financial dues for suppliers; (iii) June 18, EGP100 billion in funding accessible to all SMEs in the industrial, agricultural, and contracting sectors; (iv) July 23, A new consumer spending initiative has been announced by the government, as part of which, two-year low-interest installments will be made available to encourage spending. This is meant to complement the initiative on the same date in Measure 5B. As of July 30, this was announced to equal EGP10 billion; (v) July 30, A housing initiative has been announced to provide low cost financing for housing units. Further, a new lending initiative with soft loans at zero-to-low interest rates from banks is aimed at replacing old cars with natural gas-powered vehicles.

Arab Republic of Egypt 03B 03B - Forbearance EGP World Bank. https://datacatalog.worldbank.org/dataset/covid-19-finance-sector-related-policy-responses (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: (i) March 24, The government also introduced a six-month extension for credit repayments targeting all individuals and businesses, as well as the waiving of late fines for such repayments; (ii) March 27, Mortgage financing companies, factoring and leasing companies mandated to give a six-month grace period to any client who asks; (iii) new debt relief initiative for individuals at risk of default has also been announced, that will waive marginal interest on debt under EGP1 million if customers make a 50% payment; (iv) Microlenders have been instructed to also consider delays on a case-by-case basis, of up to 50% of the value of monthly installments for struggling clients.

Argentina 03 03 - Direct long-term lending ARS 35,120,000,000 559,681,275
Argentina 03A 03A - Long-term lending ARS 35,120,000,000 559,681,275 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).

(i) Offered ARS2.25 billion loans at a fixed rate of 12% and non-refundable contributions to companies, small and medium-sized enterprises (SMEs), cooperatives, and research and development instituions that contribute to the COVID-19 health emergency; (ii) Allocated ARS25 billion from the state-owned bank BNA for producers of food, personal hygiene and cleaning, and producers of medical supplie; (iii) Allocated ARS5 billion to support teleworking and ARS2.8 billion to develop infrastructure in industrial parks; (iv) granted a total of ARS70 million Non-Refundable Contributions (ANRs) for a maximum amount for high impact or associative projects; (v) increased the monthly non-remunerative financial to temporary workers in the agricultural and agro-industrial sector; (vi) No amount/estimate: May 11, launched the the Recuperar program, a sector-specific helpline with non-bank financing at an interest rate of 3% per year, for machines, tools or capital goods.

Argentina 03B 03B - Forbearance ARS Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 27 April 2020).

No amount/estimate: (i) Extended maturities for debt issued under the Debt Regulatization Regime of Law No. 27,541 to small and medium-sized enterprises (SMEs) and micro-SMEs until June 30, 2020; (ii) Required financial institutions to automatically refinance unpaid credit card balances with a one-year term with 3 months grace, 9 equal and consecutive monthly installments and an annual nominal rate of 43%; (iii) Suspended punitive interest charges on unpaid balances of credits granted by financial entities, whose installments were due between April 1, 2020 and June 30, 2020.

Brazil 03 03 - Direct long-term lending BRL
Brazil 03A 03A - Long-term lending BRL
Brazil 03B 03B - Forbearance BRL Ministry of Economy https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/conselho-curador-do-fgts-suspende-pagamento-de-financiamentos-do-setor-de-mobilidade-urbana (accessed June 25). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 16 April 2020).

No amount/estimate: (i) Local firms affected by the crisis were granted a 3-month moratorium on bank loan repayments (principal and interest); (ii) Exporters’ inventory financing is being supported by extending maturities for existing and new export rediscount credits; (iii) Debt enforcement and bankruptcy proceedings (except in alimony cases) have been suspended; (iv) June 23, the Ministry of Economy suspends for up to 6 months payment to the Board of Trustees of the Severance Pay Fund (FGTS) from private urban public transport companies; the impact of suspended payments is approximately BRL51 million (entered in category 5B).

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 Union 03 03 - Direct long-term lending EUR 472,280,000,000 522,433,628,319
European Union 03A 03A - Long-term lending EUR 472,280,000,000 522,433,628,319 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).

(i) March, the EIB dedicated EUR 10 billion in asset-backed securities (ABS) purchasing programs to allow banks to transfer risk on portfolios of SME loans; (ii) 9 April, EU finance ministers decided to establish Pandemic Crisis Support credit lines within the framework of the European Stability Mechanism (ESM). Access granted will be 2% of the respective country's GDP as of end-2019, as a benchmark (about EUR 240 billion in total). The credit line will be available until the COVID-19 crisis is over. The only requirement to access the credit line is that euro area Member States requesting support would commit to use this credit line to finance direct and indirect healthcare, cure and prevention related costs due to the COVID 19 crisis. On May 15, the Board of Governors of the ESM approved the establishment of Pandemic Crisis Support ; (iii) No amount/estimate: European Green Deal investments will remain a priority as part of the EU's efforts to kickstart its economy post-crisis. One of the three sources of funds for this initiative is a public sector loan facility with the European Investment Bank backed by the EU budget to mobilise between EUR25 and EUR30 billion of investments. For investments in, for instance, district heating networks and renovation of buildings; (iv) April 24, Approved EUR 5 billion in new financing for businesses affected by the coronavirus, and for the development of medica ltechnology. 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; (v) 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 ; (vi) 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 ; (viii) July 21, EIB provided EUR300 million in loans to the Autonomous Province of Trento for sustainable projects and post-COVID-19 reconstruction; (ix) July 22, EIB provided EUR125 million in loans for Greece's 826 MW Mytilineos power plant to support energy transition; (x) 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 ; (xi) 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
Islamic Republic of Iran 03 03 - Direct long-term lending IRR 1,011,221,094,840,000 24,076,692,734
Islamic Republic of Iran 03A 03A - Long-term lending IRR 1,011,221,094,840,000 24,076,692,734 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020).

Subsidized loans for affected businesses and vulnerable households at 4.4% of GDP.

Islamic Republic of Iran 03B 03B - Forbearance IRR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020).

No amount/estimate: (i) Central bank agreed with commericial banks to postpone payment of loans due on February 2020 by 3 months; (ii) offered penalty waivers for customers with non-performing loans.

Mexico 03 03 - Direct long-term lending MXN 225,000,000,000 10,241,704,220
Mexico 03A 03A - Long-term lending MXN 225,000,000,000 10,241,704,220 International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed on 30 April 2020).

(i) Lending up to MXN25 billion to SMEs; (ii) Lending of MXN25 billion for small businesses who has not fired workers or reduced salaries since the outbreak; (iii) MXN175 billion - The Fovissste and the Infonavit will allocate 175 billion pesos to grant housing loans, during these nine months of the year.

Mexico 03B 03B - Forbearance MXN
Nigeria 03 03 - Direct long-term lending NGN
Nigeria 03A 03A - Long-term lending NGN
Nigeria 03B 03B - Forbearance NGN IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19?fbclid=IwAR3QQSk6OmfE7YbISvq0_ut_FpTD_Bc00gRB-YJ_YA_VB-VlWiYD9PBO0Ro#P (accessed 4 May 2020). KPMG. https://home.kpmg/xx/en/home/insights/2020/04/nigeria-government-and-institution-measures-in-response-to-covid.html (accessed 4 May 2020).

(i) No amount/estimate: Restructured loans in impacted sectors; (ii) No amount/estimate: 1 year extension of a moratorium on principal repayments.

Russian Federation 03 03 - Direct long-term lending RUB 500,000,000,000 6,819,579,832
Russian Federation 03A 03A - Long-term lending RUB 500,000,000,000 6,819,579,832 CBR. https://cbr.ru/eng/press/pr/?file=23032020_170800eng2020-03-23T17_07_10.htm (accessed 6 May 2020); CBR. https://cbr.ru/press/pr/?file=24042020_134500dkp2020-04-24T13_43_10.htm (accessed 6 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 21 May 2020).

(i) 20 March, RUB500 billion refinancing limit for a new SME lending facility at a 4% lending rate from BOR, which was then reduced to 3.5%; (ii) No amount/estimate: additional guaranteed loans to SMEs and affected industries; (iii) No amount/estimate: The CBR has temporarily introduced a long-term refinancing instrument (long-term repos are planned for one month and one year).

Russian Federation 03B 03B - Forbearance RUB CBR. https://cbr.ru/press/pr/?file=17042020_125400if2020-04-17T12_49_42.htm (accessed 6 May 2020), CBR. https://cbr.ru/eng/press/pr/?file=27032020_203415eng2020-03-27T20_33_29.htm (accessed 6 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020).

No amount/estimate: (i) Forbearance with regard to restructured corporate and SME loans will apply to all sectors, not only affected by COVID; (ii) Parliament approved a law that guarantees that affected citizens and SMEs will receive deferrals of loan payments for up to six months; (iii) March 27, Recommends that credit institutions, microfinance organisations, and credit consumer cooperatives promptly consider and approve applications from borrowers for debt restructuring due to an income reduction, with recommendations not to charge any increased interest, fines or penalties on borrowers; (iv) March 31, Prepared amendments to legislation providing "credit holidays" to qualified individuals and enterprises in mortgage and consumer loans, with a grace period of up to 6 months on the repayment of principal and interest on loans; (v) April 17, Took several measures to ease loan restructuring, with the Bank of Russia (BOR) allowing banks to (a) assess the financial condition, (b) quality of debt servicing, or (c) the quality category of loans as of March 1, 2020.

Saudi Arabia 03 03 - Direct long-term lending SAR 30,670,000,000 8,178,666,667
Saudi Arabia 03A 03A - Long-term lending SAR
Saudi Arabia 03B 03B - Forbearance SAR 30,670,000,000 8,178,666,667 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020)

(i) March 29, Encouraging banks to restructure loans without any charges; (ii) SAR30 billion for banks and financing companies to delay the payment of the dues of the financial sector (banks and finance companies) from SMEs for a period of six months as of its date; (iii) No amount/estimate: May 14, Banks have been instructed to delay payments of loans extended to all Saudi employees by three months without extra fees, to provide financing needed by customers who lose their jobs and to exempt customers from various banking fees; (iv) July 15, SAR670 million to help businesses defer loan installments due this year amid economic uncertainty caused by the COVID-19 pandemic.

South Africa 03 03 - Direct long-term lending ZAR 3,000,000,000 180,769,772
South Africa 03A 03A - Long-term lending ZAR 3,000,000,000 180,769,772 OECD. https://oecd.github.io/OECD-covid-action-map/data/CoronavirusUpdate_AllCountries_Public.xlsx (accessed 7 May 2020).

ZAR3 billion for industrial funding to address the situation of vulnerable firms and to fast-track financing for companies.

South Africa 03B 03B - Forbearance ZAR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: March 26, SARB issued guidelines on modalities to provide debt relief to bank customers.

Arab Republic of Egypt 03 03 - Direct long-term lending EGP
Arab Republic of Egypt 03A 03A - Long-term lending EGP IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: (i) Loans with a two-year grace period will be made available to aviation sector firms; (ii) Central Bank introduced credit lines that can be paid over a maximum of two years with a six-month grace period, specifically for tourism enterprises to facilitate paying of salaries and financial dues for suppliers.

Arab Republic of Egypt 03B 03B - Forbearance EGP World Bank. https://datacatalog.worldbank.org/dataset/covid-19-finance-sector-related-policy-responses (accessed 7 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

No amount/estimate: (i) March 24, The government also introduced a six-month extension for credit repayments targeting all individuals and businesses, as well as the waiving of late fines for such repayments; (ii) March 27, Mortgage financing companies, factoring and leasing companies mandated to give a six-month grace period to any client who asks; (iii) new debt relief initiative for individuals at risk of default has also been announced, that will waive marginal interest on debt under EGP1 million if customers make a 50% payment; (iv) Microlenders have been instructed to also consider delays on a case-by-case basis, of up to 50% of the value of monthly installments for struggling clients.

Argentina 03 03 - Direct long-term lending ARS 35,120,000,000 559,681,275
Argentina 03A 03A - Long-term lending ARS 35,120,000,000 559,681,275 Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).

(i) Offered ARS2.25 billion loans at a fixed rate of 12% and non-refundable contributions to companies, small and medium-sized enterprises (SMEs), cooperatives, and research and development instituions that contribute to the COVID-19 health emergency; (ii) Allocated ARS25 billion from the state-owned bank BNA for producers of food, personal hygiene and cleaning, and producers of medical supplie; (iii) Allocated ARS5 billion to support teleworking and ARS2.8 billion to develop infrastructure in industrial parks; (iv) granted a total of ARS70 million Non-Refundable Contributions (ANRs) for a maximum amount for high impact or associative projects; (v) increased the monthly non-remunerative financial to temporary workers in the agricultural and agro-industrial sector; (vi) No amount/estimate: May 11, launched the the Recuperar program, a sector-specific helpline with non-bank financing at an interest rate of 3% per year, for machines, tools or capital goods.

Argentina 03B 03B - Forbearance ARS Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 27 April 2020).

No amount/estimate: (i) Extended maturities for debt issued under the Debt Regulatization Regime of Law No. 27,541 to small and medium-sized enterprises (SMEs) and micro-SMEs until June 30, 2020; (ii) Required financial institutions to automatically refinance unpaid credit card balances with a one-year term with 3 months grace, 9 equal and consecutive monthly installments and an annual nominal rate of 43%; (iii) Suspended punitive interest charges on unpaid balances of credits granted by financial entities, whose installments were due between April 1, 2020 and June 30, 2020.

Brazil 03 03 - Direct long-term lending BRL
Brazil 03A 03A - Long-term lending BRL
Brazil 03B 03B - Forbearance BRL IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 16 April 2020).

No amount/estimate: (i) Local firms affected by the crisis were granted a 3-month moratorium on bank loan repayments (principal and interest); (ii) Exporters’ inventory financing is being supported by extending maturities for existing and new export rediscount credits; (iii) Debt enforcement and bankruptcy proceedings (except in alimony cases) have been suspended.