Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Bangladesh 04 04 - Equity support BDT
Bangladesh 11 11 - Other Economic Measures BDT Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/brpd/jun102020brpd12.pdf (accessed 29 June 2020).

BB instructed banks to waive customers interest for the period from 1 April to 31 May based unclassified loan outstanding balance as at 30 March 2020. According to the instruction, loan balance upto BDT 0.1m, waiver the whole amount of interest; loan balance more than BDT 0.1m to BDT 1m interest, interest waiver @2% annually; loan balance more than BDT 1m; interest waiver @1%. Customer wise maximum amount of waiver is BDT 1.2m.

Bhutan 04 04 - Equity support BTN/INR
Bhutan 11 11 - Other Economic Measures BTN/INR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).

(i) Office of Consumer Protection has published market price information of essential commodities as of March 11, to monitor and keep track of price movement in the market and provide information to consumers for informed purchase decision; (ii) March 24, A ban on select food product (e.g., betel leaf, betel nut) import from India has been imposed to curb the spread of COVID-19; (ii) June 29, Import of luxury motor vehicles and bikes have been suspended .

European Central Bank 04 04 - Equity support EUR
European Central Bank 11 11 - Other Economic Measures 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 11 11 - Other Economic Measures EUR WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accesed 20 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 20 April 2020).

(i) March to April, ESMA, EU's securities and markets regulator, issued various statements to adjust compliance and reporting schedule, clarify accounting standard applications (e.g. IAS 8, IFRS 9, and IFRS 17), and ensure alignment of reporting requirements and supervisory practices in the EU; (ii) 26 April, Export restriction of critical COVID-related products .

Hong Kong, China 04 04 - Equity support HKD 19,500,000,000 2,511,236,172 News.gov.hk. https://www.news.gov.hk/eng/2020/06/20200609/20200609_161908_002.html?type=category&name=covid19 (accessed 11 June 2020).

June 9, HKG27.3 billion investment in Cathay Pacific Airways via government-owned Aviation 2020, comprising preference shares with detachable warrants of HKG19.5 billion and a bridging loan of HKG7.8 billion.

Hong Kong, China 11 11 - Other Economic Measures HKD
India 04 04 - Equity support INR
India 11 11 - Other Economic Measures INR 382,500,000,000 5,146,926,607 Securities and Exchange Board of India. https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-provisions-of-the-sebi-issue-and-listing-of-debt-securities-regulations-2008-ilds-regulation-sebi-non-convertible-redeemable-preference-shares-regulations-20-_47071.html (accessed 17 July 2020), https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-issue-and-listing-of-municipal-debt-securities-regulations-2015-ildm-regulations-and-certain-sebi-circulars-due-to-the-covid-19-vir-_47015.html (accessed 8 July 2020); Ministry of Finance. https://pib.gov.in/PressReleasePage.aspx?PRID=1625319 (accessed 21 May 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 5 May 2020).

No amount/estimate: (i) Amendments introduced to the export policy of several products; (ii) May 17, Enhancements to the Ease of Doing Business Act and decriminalisation of Companies Act violations; (iii) July 7, Decided to partially modify circular No. SEBI/HO/DDHS/CIR/P/2020/41 (dealing with investor grievance report, financial results and accounts maintained by issuers under ILDM Regulations) and extended the timelines for submission to July 31, 2020; (iv) July 15, Decided to permit Listers who listed or intend/propose to list NCDs/NCRPS/CPs to use available financials as of December 31,2019, pre-coronavirus; (v) August 31, Announced that various State Governments have offered to sell securities by way of an auction, for an aggregate face value of INR82.5 billion; [update] (vi) August 31, Announced the re-issue of various fixed-rate government equities (stocks) at different years and percentages, for a total of INR300 billion through price-based action. [update]

Maldives 04 04 - Equity support MVR
Maldives 11 11 - Other Economic Measures MVR Ministry of Finance. https://www.finance.gov.mv/media/news/mvr-25-million-economic-recovery-plan (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 (accessed 26 May 2020).

April, Reduce recurrent expenditure by MVR1 billion.

Mongolia 04 04 - Equity support MNT
Mongolia 11 11 - Other Economic Measures MNT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 24 July 2020); Mongolian News Agency. https://montsame.mn/en/read/230071 (accessed 2 July 2020).

(i) Feb 13, Temporary suspension of coal exports to the People's Republic of China; (ii) June 30, Re-opening of children playground centers except of PC game centers, summer camps, religious and cultural centers, cinema theatres, snooker centers, and karaokes. However, public protests and mass gathered sports contests will remain prohibited. By reviving the operations, it is expected to keep around 10,000 jobs.

Nepal 04 04 - Equity support NPR
Nepal 11 11 - Other Economic Measures NPR NRB. https://www.nrb.org.np/contents/uploads/2020/04/Circular10-2076-77_20200401_0001.pdf (accessed 6 July 2020).

April 1: (i) The security requirement of 10% of L/C value (Document value) for the import of COVID-related medical supplies and equipment has been waived; (ii) Parents/guardians can send USD500 per student to meet their living expenses abroad even without a NO OBJECTION LETTER.

People's Republic of China 04 04 - Equity support CNY 200,000,000,000 28,497,852,298 Caixin Global. https://www.caixinglobal.com/2020-06-17/in-depth-the-billion-dollar-plan-to-replenish-smaller-chinese-banks-capital-101568814.html (accessed 19 June 2020).

Policymakers are planning to allow local governments to replenish the capital of certain small and midsize banks to the tune of about CNY200 billion ($28.2 billion) in an effort to defuse bad-debt risks .

People's Republic of China 11 11 - Other Economic Measures CNY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 June 2020); The State Council, The People's Republic of China. http://www.gov.cn/xinwen/2020-05/16/content_5512106.htm (accessed 20 May 2020); SCMP. https://www.scmp.com/economy/china-economy/article/3085553/china-gdp-beijing-abandons-economic-growth-target-2020-work (22 May 2020); Xinhua Net. http://www.xinhuanet.com/english/2020-07/12/c_139206895.htm (accessed 13 July 2020); The State Council The People's Republic of China. http://english.www.gov.cn/news/pressbriefings/202007/17/content_WS5f11a035c6d00bd0989c61b7.html (accessed 4 August 2020); The State Council The People's Republic of China. http://english.www.gov.cn/policies/policywatch/202007/28/content_WS5f1f7df0c6d029c1c2636cc4.html (accessed 4 August 2020); The State Council The People's Republic of China. http://english.www.gov.cn/policies/policywatch/202007/28/content_WS5f1f883bc6d029c1c2636ce6.html (accessed 4 August 2020).

(i) Restrictions on the investment quota of foreign institutional investors (QFII and RQFII) were removed; (ii) No amount/estimate: Additional financing support for corporates via increased bond issuance by corporates; (iii) Announced that it will make regulatory arrangements for the performance commitment requirements and adjustment of restructuring plans for listed companies that are indeed affected by the epidemic . encouraging lending to SMEs, including uncollateralized SME loans from local banks and raising the target for large banks’ lending growth to micro- and small enterprises from 30 percent to 40 percent; (iv) July 13, The State Council, China's cabinet, has decided to implement more reform measures experimented with at the pilot free trade zones (FTZs) across the nation. It is the sixth batch of measures tested by the pilot FTZs before being implemented in other areas. To be replicated nationwide are measures covering five areas: investment management, trade facilitation, financial openness and innovation, operational and post-operational oversight, and human resources; (v) July 14, The government encourages the private sector to fund transportation infrastructure, and no restrictive threshold shall be set for private investment in this aspect ; (vi) Juy 10, PRC will allow foreign banks to gain access to fund custody business in its market, as part of efforts to further open up the financial sector. Eligible Chinese branches of foreign banks will be able to apply for permits for fund custody business, according to the newly-revised fund custody rules jointly issued by the China Securities Regulatory Commission and the China Banking and Insurance Regulatory Commission; (vii) July 17, The new regulation on ensuring timely payments to small and medium-sized enterprises, which will go into effect on September 1, which will safeguard the legitimate rights and interests of SMEs, reduce their operational costs and optimize the business environment; (viii) July 28, The State Council has adopted a package of measures to facilitate investment and widen market access to improve the business environment and help counter the economic impact of the COVID-19 pandemic. Key policies include the removal of unreasonable market access barriers in the construction, education, healthcare and sports sectors, improving the efficiency of customs clearance and encouraging the growth of new business models ; (ix) July 28, A new regulation on ensuring timely payments to small and medium-sized enterprises, which will go into effect on Sept 1, will better safeguard legal rights and interests of SMEs and private enterprises that are now having a hard time due to the COVID-19 pandemic and create a fairer business environment, said industry insiders .

Republic of Korea 04 04 - Equity support KRW 10,700,000,000,000 8,769,870,985 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 May 2020). OECD. http://www.oecd.org/coronavirus/en/ (accessed 11 May 2020).

(i) March 24, The government announced the creation of a stock market stabilisation fund (KRW10.7 trillion).

Republic of Korea 11 11 - Other Economic Measures KRW WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 1 May 2020). FSC. http://www.fsc.go.kr/downManager?bbsid=BBS0048&no=152660 (accessed 22 May 2020). FSC. http://www.fsc.go.kr/downManager?bbsid=BBS0048&no=152874 (accessed 22 May 2020). Reuters. https://www.reuters.com/article/us-health-coronavirus-southkorea/south-korea-announces-29-billion-third-stimulus-budget-to-fight-virus-misery-idUSKBN23A03Y?il=0 (accessed 3 June 2020). Reuters. https://www.reuters.com/article/us-southkorea-economy-housing/south-korea-finance-minister-says-will-raise-tax-rates-for-multiple-home-owners-idUSKBN24B04X?il=0 (accessed 10 July 2020). Reuters. https://www.reuters.com/article/us-southkorea-economy-tax/south-korea-scales-back-capital-gains-tax-on-stocks-hikes-income-tax-for-top-earners-idUSKCN24N0GU?il=0 (accessed 22 July 2020). FSC. http://www.fsc.go.kr/eng/new_press/releases.jsp?menu=01&bbsid=BBS0048 (accessed 28 August 2020).

(i) April 14, Temporary export ban on surgical and sanitary masks and melt blown filters. (ii) May 18, The FSC announced various measures to improve the exchange-traded fund and exchange-traded note markets to contain overheated investment demand and mitigate excessive concentration in particular investment products. (iii) May 19, the FSC announced implementation plans on measures to improve supervision of financial conglomerates: (a) introduce a group-wide risk assessment system which combines the currently distinct risk concentration and risk transfer categories into a single comprehensive framework for assessing capital adequacy requirements; (b) begin integrated group-wide disclosure in September through which the six financial conglomerates will gather required information from their subsidiaries and provide group-wide disclosure of information on 8 sections and 25 categories, including ownership & governance structure, internal risk management procedures, financial soundness, etc.; (c) introduce a group-wide internal control system in the second half of this year by having the six financial conglomerates establish and operate their own internal control council operate their own internal control councils and standards by the end of the third quarter this year. (iv) July 10, the Finance Minister announced the government will raise real estate taxes on properties valued over KRW600 million for multiple home owners and encourage renters to unload homes; capital gains tax rates will also be increased. As of July 22, The government clarified its planned revisions to the tax code pertaining to capital gains: (a) up to 25% tax on capital gains exceeding KRW50 million a year for retail stock market investors starting 2023; (b) starting October 2021, annual gains of more than KRW2.5 million from trading of cryptocurrencies will be subject to a 20% capital gains tax for local residents; and (c) a hike in income tax on earnings exceeding KRW1 billion a year from 42% to 45%. (v) August 27, The FSC announced an extended temporary ban on short-selling of stocks to March 15, 2021. [update]

Sri Lanka 04 04 - Equity support LKR
Sri Lanka 11 11 - Other Economic Measures LKR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 September 2020); News 1st. https://www.newsfirst.lk/2020/05/22/sri-lanka-lifts-import-bans-except-for-vehicles-in-covid-19-economic-recovery-plan/ (accessed 23 May 2020); CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20200513_central_bank_of_sri_lanka_implements_extraordinary_regulatory_measures_to_provide_liquidity_to_banks_amidst_covid_19_outbreak_e.pdf (accessed 26 June 2020).

(i) April 23, import duties on petrol and diesel were increased to mitigate weak revenue collections, but this was reversed in late June; (ii) May 22, Sri Lanka lifts import bans except for vehicles in COVID-19 economic recovery plan.

Taipei,China 04 04 - Equity support TWD
Taipei,China 11 11 - Other Economic Measures TWD KPMG. https://bit.ly/2LvD7ms (accessed 14 May 2020).

(i) From February 27 to May 26, 2020, importation of mask and undenatured alcohol concentration above 90% could be subject to temporary adjustment rates; (ii) From March 4 to March 31, the fever thermometers products could not be exported without the approval issued by the Bureau of Foreign Trade of the Ministry of Economic Affairs; (iii) Until April 30, the exportation of mask products (filtering efficiency 94% or more, of textile materials) are banned. However, woven or knitted masks without filter of textile materials, gas masks for epidemic prevention and replaceable filters, sponge masks, and paper masks are not subject to the export prohibition. Such ban may be further extended depending on the current COVID-19 situation.

Bangladesh 04 04 - Equity support BDT
Bangladesh 11 11 - Other Economic Measures BDT
Bhutan 04 04 - Equity support BTN/INR
Bhutan 11 11 - Other Economic Measures BTN/INR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020).

(i) Office of Consumer Protection has published market price information of essential commodities as of March 11, to monitor and keep track of price movement in the market and provide information to consumers for informed purchase decision; (ii) March 24, A ban on select food product (e.g., betel leaf, betel nut) import from India has been imposed to curb the spread of COVID-19.

European Central Bank 04 04 - Equity support EUR
European Central Bank 11 11 - Other Economic Measures 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).

(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 [update].

European Union 11 11 - Other Economic Measures EUR WTO. https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accesed 20 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 20 April 2020).

(i) March to April, ESMA, EU's securities and markets regulator, issued various statements to adjust compliance and reporting schedule, clarify accounting standard applications (e.g. IAS 8, IFRS 9, and IFRS 17), and ensure alignment of reporting requirements and supervisory practices in the EU; (ii) 26 April, Export restriction of critical COVID-related products [update as of 29 April].

Hong Kong, China 04 04 - Equity support HKD 19,500,000,000 2,511,236,172 News.gov.hk. https://www.news.gov.hk/eng/2020/06/20200609/20200609_161908_002.html?type=category&name=covid19 (accessed 11 June 2020).

June 9, HKG27.3 billion investment in Cathay Pacific Airways via government-owned Aviation 2020, comprising preference shares with detachable warrants of HKG19.5 billion and a bridging loan of HKG7.8 billion. [update]

Hong Kong, China 11 11 - Other Economic Measures HKD
India 04 04 - Equity support INR
India 11 11 - Other Economic Measures INR Ministry of Finance. https://pib.gov.in/PressReleasePage.aspx?PRID=1625319 (accessed 21 May 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 5 May 2020).

No amount/estimate: (i) Amendments introduced to the export policy of several products; (ii) May 17: Enhancements to the Ease of Doing Business Act and decriminalisation of Companies Act violations.

Maldives 04 04 - Equity support MVR
Maldives 11 11 - Other Economic Measures MVR Ministry of Finance. https://www.finance.gov.mv/media/news/mvr-25-million-economic-recovery-plan (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 (accessed 26 May 2020).

April, Reduce recurrent expenditure by MVR1 billion.

Mongolia 04 04 - Equity support MNT
Mongolia 11 11 - Other Economic Measures MNT