Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Australia 04 04 - Equity support AUD
Australia 10 10 - No breakdown AUD
Austria 04 04 - Equity support EUR
Austria 10 10 - No breakdown EUR
Bangladesh 04 04 - Equity support BDT
Bangladesh 10 10 - No breakdown BDT Asian Development Bank. https://www.adb.org/news/adb-president-bangladesh-finance-minister-discuss-support-covid-19-response (accessed 21 April 2020). The Financial Express. https://thefinancialexpress.com.bd/economy/covid-19-govt-so-far-announces-1190b-stimulus-packages-1590759538 (accessed 26 June 2020).
Belgium 04 04 - Equity support EUR
Belgium 10 10 - No breakdown EUR
Bhutan 04 04 - Equity support BTN/INR
Bhutan 10 10 - No breakdown BTN/INR
Canada 04 04 - Equity support CAD 537,000,000 384,877,262 Department of Finance Canada. https://www.canada.ca/en/department-finance/economic-response-plan.html (accessed 10 June 2020).

(i) CAD287 million to support rural businesses and communities by providing them with much-needed access to capital through the Community Futures Network. (ii) CAD250 million to assist innovative, early-stage companies that are unable to access other COVID-19 business supports through the Industrial Research Assistance Program (IRAP).

Canada 10 10 - No breakdown CAD
Denmark 04 04 - Equity support DKK 17,437,889,398 2,581,659,486 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 8 July 2020). European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1488 (accessed 22 July 2020)

(i) April 18, DKK3.5 billion in loans and equity provided to entrepreneurs and venture firms. The state investment fund (Vaekstfonden) will provide risky capital to start-ups and venture firm, facing difficulties in financing as private investors withdraw from the market. Available in 2020 only; (ii) June 15, DKK10 billion from a new government-backed fund to act as an investor of last resort with the possibility of recapitalizing large and important firms at risk of bankruptcy; (iii) Together with Sweden, planned recapitalization of SAS (a Dutch airline) through an equity injection. Last August 17, the European Commission (EC) approved this measure. Denmark is expected to provide approximately EUR583 million of the recapitalization funds.

Denmark 10 10 - No breakdown DKK
European Central Bank 04 04 - Equity support EUR
European Central Bank 10 10 - No breakdown EUR ECB. https://www.ecb.europa.eu/press/accounts/2020/html/ecb.mg200522~f0355619ae.en.html (24 May 2020).

May 22, The account of the monetary policy meeting of the Governing Council of the ECB on 29-30 April was released. According to it, the ECB was fully prepared to adjust all of its measures, as appropriate, to ensure that inflation moved towards its aim in a sustained manner, in particular signalling that it was fully prepared to increase the size of the PEPP and adjust its composition as much as necessary and for as long as needed .

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 10 10 - No breakdown EUR EC. https://ec.europa.eu/info/live-work-travel-eu/health/coronavirus-response/recovery-plan-europe_en; EC. https://www.consilium.europa.eu/media/45109/210720-euco-final-conclusions-en.pdf; EC. https://www.consilium.europa.eu/en/policies/eu-recovery-plan/; EC. https://ec.europa.eu/info/live-work-travel-eu/health/coronavirus-response/recovery-plan-europe_en (accessed 27 July 2020)

July 21, Approval of the Next Generation EU recovery fund which will provide the Union with the necessary means to address the challenges posed by the COVID-19 pandemic. Under the agreement the European Commission will be able to borrow up to EUR750 billion on the markets. Capital raised on the financial markets will be repaid by 2058. The funds will go to areas where they can make the greatest difference, complementing and amplifying the essential work under way in the Member States. The investments will be channeled via a variety of instruments under three pillars, such as: (a) Supporting member states to recover, repair and emerge stronger from the crisis; (b) Kick-starting the economy and helping private investment; and (c) Learning the lessons of the crisis and addressing Europe’s strategic challenges. The plan ensures the money goes to the countries and sectors most affected by the crisis: 70% under the grants of the Recovery and Resilience Facility (RRF) will be committed in 2021 and 2022 and 30% will be committed in 2023. Allocations from the RRF in 2021-2022 will be established according to the Commission’s allocation criteria taking into account member states' respective living standards, size and unemployment levels. Details of the specific instruments under this fund can be found in these links: https://bit.ly/3faBQgG, https://bit.ly/3gbqRVB, and https://bit.ly/39FzbL8 .

Finland 04 04 - Equity support EUR 710,500,000 785,951,327 MEE. https://tem.fi/artikkeli/-/asset_publisher/ensimmaiset-valtionavustukset-kunnille-yksinyrittajien-tukemiseksi (accessed 3 May 2020); https://vm.fi/en/article/-/asset_publisher/10616/hallitus-paatti-vuoden-2020-neljannesta-lisatalousarvioesityksesta (accessed 9 June 2020); European Sting. https://europeansting.com/2020/06/10/state-aid-commission-approves-e286-million-finnish-measure-to-recapitalise-finnair/ (accessed 15 June 2020); Ministry of Economic Affairs and Employment of Finland. https://tem.fi/artikkeli/-/asset_publisher/nordfuel-oy-n-haapaveden-biojalostamohankkeelle-24-5-miljoonaa-euroa-uusiutuvan-energian-suurten-demohankkeiden-investointitukea (accessed 19 June 2020).

(i) June 6, Further capital funding of EUR250 million is proposed for Tesi (Finnish Industry Investment Ltd), to increase equity financing for companies ; (ii) June 6, Capital funding of EUR 150 million is proposed for strengthening the balance sheet of Finnish Minerals Group ; (iii) June 10, The EU Commission approved Finland's plans to contribute to the recapitalisation of Finnair, amounting to EUR286 million through the subscription of new shares by the State in the rights issue launched by Finnair on 10 June 2020 in the context of the coronavirus outbreak ; (iv) June 15, EUR24.5 million of investment support for NordFuel Oy's Haapevesi biorefinery project for large renewable energy demo projects .

Finland 10 10 - No breakdown EUR
France 04 04 - Equity support EUR 22,270,000,000 24,634,955,752 OECD. https://www.oecd.org/coronavirus/en/ (update as of 14 May 2020); Economie. https://www.economie.gouv.fr/3-projet-loi-finances-rectificative-plfr-iii-2020# (accessed 4 July 2020).

(i) EUR20 billion for the temporary increase in state-ownership for some firms facing exceptional difficulties; (ii) June 5, EUR150 million worth of investment funds for companies developing sovereign technologies of the future whose risk associated with investment is high (quantum, health, cybersecurity, artificial intelligence, etc.) and of start-ups at any stage of development; (iii) EUR200 million equity support to SMEs in the aeronautics sector ; (iv) EUR1.3 billion equity investments in the tourism industry ; (v) EUR270 million to EUR620 million equity support under the Programme de soutien à l’innovation majeure PSIM (EUR120 million) & French Tech Souveraineté (EUR150 million, extendable up to a maximum of EUR500 million) .

France 10 10 - No breakdown EUR 24,368,000,000 26,955,752,212 Economie. https://www.economie.gouv.fr/3-projet-loi-finances-rectificative-plfr-iii-2020# (accessed 30 June 2020); Financial Times. https://www.ft.com/content/d66e04d4-12b4-4578-bcd2-c81e26fd446e?desktop=true&segmentId=d8d3e364-5197-20eb-17cf-2437841d178a#myft:notification:instant-email:content (accessed 3 September 2020).

(i) June 6, government announced a strengthened support system for the sectors affected by the COVID-19 crisis including: EUR5.168 billion to support the aeronautic sector; EUR4.5 billion support for the resumption of activities of local authorities; EUR8 billion to support the automotive sector; construction companies subject to corporation tax will be able to request, from 2020, the immediate reimbursement of their stock of receivables to carry back their deficits, as well as receivables that would come to be recognized in 2020 due to the losses linked to this health crisis; EUR6.7 billion to support the tourism industry (ii) September 3, France to unveil an economic stimulus plan worth EUR100 billion or 4 per cent of gross domestic product over two years. It is, French officials say, the biggest stimulus programme of any big European country measured against national output, separate from the emergency support measures this spring which included vast loan guarantees [update}.

Germany 04 04 - Equity support EUR 112,000,000,000 123,893,805,310 Federal Ministry of Finance. https://bit.ly/3el63tR (accessed 17 April 2020); Federal Ministry for Economic Affairs and Energy. https://bit.ly/3ehnpbi (accessed 17 April 2020); Bruegel. https://bit.ly/3eeLoYx (accessed 16 April 2020); Deutsche Welle. https://bit.ly/3hFEEFj (accessed 17 April 2020); Finance Yahoo. https://yhoo.it/3gjTIHQ (accessed 25 May 2020); Federal Ministry of Finance. https://bit.ly/2YPVHf6 (accessed 31 May 2020).

(i) March 23, EUR100 billion under the WSF to directly acquire equity of larger affected companies and strengthen their capital position. May 25, Lufthansa gets a EUR9 billion support, of which EUR6 billion will be equity; (ii) April 1, EUR2 billion to expand venture capital financing to start-ups, new technology companies, and small businesses during the coronavirus crisis; and (iii) EUR10 billion fund by the state of Bavaria to buy stakes in struggling companies.

Germany 10 10 - No breakdown EUR Federal Ministry of Finance. https://bit.ly/2YimTnV (accessedd 22 May 2020).

EUR67 billion, Proposed a Solidarity Pact for cities and municipalities suffering from significant reduced income due to the coronavirus. The solidarity pact has two elements: old debt relief and emergency aid to compensate for trade tax losses. The old debt relief would involve a one-off haircut worth a total of EUR45 billion. The emergency aid would entail the federal government and the states each assuming half the tax burden of the municipalities, and losses are currently estimated at EUR12 billion. The amount will be added to the package once approved.

India 04 04 - Equity support INR
India 10 10 - No breakdown INR
Ireland 04 04 - Equity support EUR 2,012,000,000 2,225,663,717 DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/May/02052020.html (accessed 9 May 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/July/07072020.html (accessed 26 July 2020); Government of Ireland. file:///C:/Users/m29/Downloads/81556_d4fa4cc4-7e9f-4431-8540-a9ecb7126505.pdf (accessed 26 July 2020).

(i) EUR2 billion Pandemic Stabilisation and Recovery Fund within the Ireland Strategic Investment Fund (ISIF), which will make capital available to medium and large enterprises on commercial terms; (ii) July 7, Enterprise Ireland EUR2 million Competitive Start Fund will open to applications for two competitionswhich will approve up to forty investments – the ‘All Sectors’ competition and a ‘Women Entrepreneurs’ Competition. Each of the two EUR1,000,000 funds being launched will provide up to EUR50,000 in equity funding to successful projects ; (iii) EUR10 million in funding for the Seed and Venture Capital sector through Enterprise Ireland as a top-up to existing funds and leveraging a combined additional pool of investment of EUR55 million, as part of commitment to innovation driven enterprises.

Ireland 10 10 - No breakdown EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

No amount/estimate: A three month commercial rates waiver for impacted businesses.

Italy 04 04 - Equity support EUR 45,000,000,000 49,778,761,062 MEF. https://www.mef.gov.it/focus/Decreto-rilancio-le-misure-per-rimettere-in-moto-il-Paese/ (accessed 21 July 2020).

May 15, EUR45 billion in equity support for companies under the Relaunch Decree .

Italy 10 10 - No breakdown EUR 50,000,000,000 55,309,734,513 MEF. https://www.mef.gov.it/inevidenza/PNR-riforme-e-investimenti-per-il-rilancio-e-la-sostenibilita/ (accessed 16 July 2020); MEF. https://www.mef.gov.it/focus/Decreto-rilancio-le-misure-per-rimettere-in-moto-il-Paese/ (accessed 21 July 2020).

No amount/estimate: July 9, The government announced the third phase of the Italian recovery plan, known as the "National Reform Program" (PNR). It outlines the Italian government's approach to stimulating economic growth, innovation, and environmental and social sustainability post-COVID-19. The PNR covers the years 2021-2023 ; May 15, EUR50 billion worth of measures (with no details) which is part of the Relaunch Decree. At the heart of the decree are the measures to support families and businesses, which not only reinforce and extend many of the Cura Italia measures, starting with the strong commitment to the health system, but also introduce new and important measures to get Italy back on its feet, keeping together economic recovery, social cohesion and security.

Japan 04 04 - Equity support JPY 12,180,000,000,000 113,521,070,501 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 6 May 2020).

An increase in the annual pace of the Bank of Japan’s purchases of Exchange Traded Funds (ETFs) and Japan-Real Estate Investment Trusts (J-REITs) up to about JPY12 trillion (2.2% of GDP) and JPY180 billion (0.03% of GDP), respectively.

Japan 10 10 - No breakdown JPY
Luxembourg 04 04 - Equity support EUR
Luxembourg 10 10 - No breakdown EUR
Maldives 04 04 - Equity support MVR
Maldives 10 10 - No breakdown MVR
Nepal 04 04 - Equity support NPR
Nepal 10 10 - No breakdown NPR
Netherlands 04 04 - Equity support EUR
Netherlands 10 10 - No breakdown EUR 13,000,000,000 14,380,530,973 Rijksoverheid. https://www.rijksoverheid.nl/ministeries/ministerie-van-economische-zaken-en-klimaat/nieuws/2020/05/20/coronavirus-verlenging-en-uitbreiding-noodpakket-banen-en-economie (accessed 22 May 2020)

May 20, EUR13 billion for a new emergency package, which has five major components: (a) Companies will receive a tax-free allowance from the Ministry of Economic Affairs so that they can pay for their fixed costs, (b) Adjusted labor compensation ("NOW") program that does not reduce compensation for commercial dismissals, (c) Bridging ("TOZO") program that now applies to entrepreneurs and self-employed persons, (d) Prolonged tax relief, and (e) Lending and guarantees ("BMKB", "GO", "KKC", "COL") for entrepreneurs.

New Zealand 04 04 - Equity support NZD
New Zealand 10 10 - No breakdown NZD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); RBNZ. https://www.rbnz.govt.nz/news/2020/05/term-lending-facility-details-outlined-to-promote-business-lending (accessed on 12 May 2020); RBNZ. https://www.rbnz.govt.nz/covid-19 (accessed 08 May 2020); RBNZ. https://www.rbnz.govt.nz/news/2020/05/large-scale-asset-purchases-expanded (accessed 14 May 2020); RBNZ. https://www.rbnz.govt.nz/news/2020/08/further-easing-in-monetary-policy-delivered (accessed 13 August 2020).

April, The RBNZ has been implementing a Large-Scale Asset Program (LSAP) to purchase government bonds in the secondary market up to NZD30 billion across a range of maturities. April 7, The RBNZ announced that it has added NZD3 billion (equivalent to 30% on issue) of Local Government Funding Agency (LGFA) debt to the LSAP, taking the total size of the LSAP to NZD33 billion over 12 months. On May 13, The Monetary Policy Committee has agreed to significantly expand the LSAP programme to NZD60 billion, up from the previous NZD33 billion limit. On August 12, LSAP programme was expanded to NZD100 billion (See Measures 2A and 7B).