Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Arab Republic of Egypt 02 02 - Credit creation EGP 106,000,000,000 6,745,159,653
Arab Republic of Egypt 02A 02A - Financial sector lending/funding EGP
Arab Republic of Egypt 02B 02B - Support policies for long-term lending EGP IMF. (accessed 24 June 2020).

No amount/estimate: (i) March 20, The central bank has reduced the policy rate by 300 bps to 9.25%; (ii) March 24, preferential interest rate on loans to tourism has been reduced from 10% to 5%, for SMEs. As of June 24, this measure has already been reversed; (iii) March 24, preferential interest rate on loans to industry and housing for low-income and middle-class families has been reduced from 10% to 8%. As of June 24, the new rate now applies to tourism, industry, agriculture and construction sectors as well. (iv) regulations issued last year requiring banks to obtain detailed information of borrowers have been relaxed; (v) suspension of credit score blacklists for irregular clients and waiver of court cases for defaulted customers have been announced.

Arab Republic of Egypt 02C 02C - Loan guarantees EGP 106,000,000,000 6,745,159,653 Central Bank of Egypt. (accessed 19 June 2020). Yale. (accessed 19 June 2020). IMF. (accessed 26 May 2020).

(i) EGP3 billion of loan guarantees by the government has been announced for the tourism industry soft loans; (ii) EGP100 billion of loan guarantees from the Central Bank to cover lending at preferential rates to the manufacturing, agriculture and contracting industries; (iii) June 16, EGP3 billion in loan guarantees to the Tourism sector.

Arab Republic of Egypt 04 04 - Equity support EGP 20,000,000,000 1,272,671,633 OECD. (accessed 7 May 2020); IMF. (accessed 7 May 2020).

EGP20 billion stock-purchase program has been launched by the Central Bank.

Argentina 02 02 - Credit creation ARS 31,000,000,000 494,023,904
Argentina 02A 02A - Financial sector lending/funding ARS
Argentina 02B 02B - Support policies for long-term lending ARS BCRA. (Accesed 27 April 2020). Yale. (accessed 15 May 2020).

No amount/estimate: (i) Provided new incentives for financial entitites to increase their loans to micro, small, and medium-sized enterprises (MiPyMEs) for the payment of salaries, as long as those entities are payment agents of the company that requests it; (ii) the Central Bank also temporarily added 60 days to each category of debtor in arrears; (iii) Developed the Conformed Invoice as a credit instrument to discount in financial entities or the capital market.

Argentina 02C 02C - Loan guarantees ARS 31,000,000,000 494,023,904 BCRA. (Accessed 27 April 2020).

No amount/estimate: (i) See (i) in Actions that increase liabilities in Measure 1; (ii) Created a Special Affectation Fund, which will transfer ARS30 billion to the Argentine Guarantee Fund. The guarantees have the objective of facilitiating the repayment of loans for working capital. Eligible parties include companies listed in the small and medium-sized enterprise registry (MiPyMES Registry); (iii) No amount/estimate: FOGAR provides a guarantee that covers 100% of the credit in (iv) of Measure 1A.

Argentina 04 04 - Equity support ARS
Brazil 02 02 - Credit creation BRL 1,456,000,000,000 298,164,027,448
Brazil 02A 02A - Financial sector lending/funding BRL BCB. (accessed 26 June 2020).

(i) No amount/estimate; June 23, BCB announced conditions for purchase of private financial assets in secondary markets, namely that assets with credit risk equivalent to BB- or higher, in a central depository, not convertible into shares, and with a maturity of 12 months or more will be eligible.

Brazil 02B 02B - Support policies for long-term lending BRL 1,451,000,000,000 297,140,112,519 IMF. (accessed 29 April 2020); BCB., (accessed May 29). BCB (accessed June 8), (accessed June 8).

(i) The central bank lowered the policy rate (SELIC) by 50bps a historical low of 3.75%; (ii) March 26, the New Term Deposit with Special Guarantees (NDPGE) was introduced as a new financing tool for financial institutions associated with the Credit Guarantee Fund (FCG). This is expected to raise credit supply by BRL 200 billion; (iii) March 26, the BCB offered loans backed by debentures to financial insitutions through the Temporary Liquidity Line; this is expected to increase credit by BRL 91 billion; (iv) March 26, the BCB allowed the temporary exemption of tax effects arising from overhedge of equity investments held abroad being deducted from equity -- This provides sufficient capital relief from currency depreciation that BCB estimates an increase of BRL 520 billion in credit creation; (v) BCB reduced the factor applied to calculate the Capital Conservation buffer from 2.5% to 1.25% through March 2021 with gradual reversal until March 2022; BCB estimates this provides capital relief of about BRL 56 billion and increases credit supply by BRL 640 billion; No amount/estimate: (vi) April 24, the Banco Central de Brasil (BCB) raised the limit on collateralized lending for cooperative banks; (vii) On May 6, The central bank decided to lowered the Selic rate to 3% p.a; (viii) May 29, BCB announced an extension of dividend restrictoins until December 2020 and temporary easing of rules on real estate financing; (ix) June 2, BCB announced it would maintain the countercyclical capital buffer addition at 0% for at least 1 year; (x) No amount/estimate: June 17, BCB announced a 0.75% cut in the Selic rate to 2.25%.

Brazil 02C 02C - Loan guarantees BRL 5,000,000,000 1,023,914,929 Ministry of Economy. (accessed 8 June 2020).

(i) June 2, Ministry of Ecoomy provides BRL5 billion immediately and up to BRL20 billion in loan guarantees available to financial agents that lend to small and medium sized enterprises.

Brazil 04 04 - Equity support BRL
Islamic Republic of Iran 02 02 - Credit creation IRR
Islamic Republic of Iran 02A 02A - Financial sector lending/funding IRR
Islamic Republic of Iran 02B 02B - Support policies for long-term lending IRR
Islamic Republic of Iran 02C 02C - Loan guarantees IRR
Islamic Republic of Iran 04 04 - Equity support IRR
Mexico 02 02 - Credit creation MXN 350,000,000,000 15,931,539,897
Mexico 02A 02A - Financial sector lending/funding MXN 350,000,000,000 15,931,539,897 Bank of Mexico. (accessed on 30 April 2020).

(i) MXN350 billion - Financing facility for commercial and development banks to foster lending to SMEs.

Mexico 02B 02B - Support policies for long-term lending MXN Bank of Mexico. (accessed on 14 May 2020).

No amount/estimate: (i) Monetary policy rate has been lowered by 100bp to 6%, most recently in a 50bp cut (April 21); Banco de México’s Governing Board decided to lower the target for the overnight interbank interest rate by 50 basis points to 5.5% (May 14); (ii) Halved the cost of repos.

Mexico 02C 02C - Loan guarantees MXN
Mexico 04 04 - Equity support MXN
Nigeria 02 02 - Credit creation NGN
Nigeria 02A 02A - Financial sector lending/funding NGN
Nigeria 02B 02B - Support policies for long-term lending NGN IMF. (accessed 4 May 2020). KPMG. (accessed 4 May 2020). Central Bank of Nigeria.,%202020.pdf (accessed 5 June 2020)

(i) No amount/estimate: Reducing interest rates on all applicable CBN interventions from 9% to 5%; (ii) No amount/estimate: Strengthening of the loan-to-deposit ratio policy; (iii) No amount/estimate: Extended the deadlines for compliance with the revised minimum capital requirements for all categories of Microfinance Banks (MFBs) by one year; (iii) No amount/estimate: Lowered the policy rate from 13.5% to 12.5%.

Nigeria 02C 02C - Loan guarantees NGN
Nigeria 04 04 - Equity support NGN
Russian Federation 02 02 - Credit creation RUB 3,600,000,000,000 49,100,974,791
Russian Federation 02A 02A - Financial sector lending/funding RUB 3,500,000,000,000 47,737,058,824 CBR. (accessed 6 May 2020).

March 27, RUB3.5 trillion increase in the maximum aggregate limit under irrevocable credit lines for systemically important credit institutions from RUB1.5 trillion to RUB5 trillion for the period from 1 April 2020 through 31 March 2021.

Russian Federation 02B 02B - Support policies for long-term lending RUB CBR., (both accessed 24 June 2020). CBR.,,, CBR., (all accessed 6 May 2020); IMF. (accessed 6 May 2020).

No amount/estimate: (i) March 20, National countercyclical capital buffer maintained at 0; (ii) March 27, Will devise proposals on amending the Federal Law ‘On Credit Histories’ aimed at preventing the deterioration of borrowers’ credit histories and individual credit ratings because of the pandemic; (iii) April 17, Expanded the scope of support programs for small and medium-sized enterprises (SMEs), by (a) revising the calculation of debt limits, and (b) relaxing the in-person requirement for SMEs to obtain loans related to supporting/maintaining employment. (iv) April 17, The BOR also sought to reduce deposit insurance premiums from 0.15% to 0.1% by the end of 2020; (v) April 24, the CBR cut the policy rate by 50 bps to 5.5%; (vi) CBR has introduced temporary regulatory easing for banks intended to help corporate borrowers; (vii) more favorable treatment for FX loans issued to certain sectors; (viii) Until 30 September 2020, (a) credit institutions will be given an option not to downgrade the assessment of debt servicing quality irrespective of the financial position of a borrower in such sectors as tourism and transport, (b) add-ons to risk weights on foreign currency loans provided to organisations producing pharmaceuticals and medical equipment will be reduced to zero; No amount/estimate: June 19, (ix) Decided to lower the interest rate that the Bank of Russia extends to small and medium-sized enterprises (SMEs) to support and maintain employment by 1%, decreasing the annual rate from a level of 3.5% to 2.5%. (x) Decided to reduce the key interest rate by 1%, bringing the annual rate to a level of 4.5%.

Russian Federation 02C 02C - Loan guarantees RUB 100,000,000,000 1,363,915,966 Ministry of Economic Devleopment. (accessed 17 June 2020).

June 15, Announced an increase in the anti-crisis loan program by RUB100 billion (to RUB350 billion total). Through the Vnesheconombank (VEB), the Russian government guarantees loans to businesses up to 85%, with loan rates below 2% per annum, aimed at supporting employment.

Russian Federation 04 04 - Equity support RUB
Saudi Arabia 02 02 - Credit creation SAR 69,200,000,000 18,453,333,333
Saudi Arabia 02A 02A - Financial sector lending/funding SAR 63,200,000,000 16,853,333,333 KPMG. Saudi Arabian Monetary Authority. (accessed 5 June 2020)

(i) SAR13.2 billion in loans to SMEs provided through banks; (ii) June 1, SAR50 billion injection by the Saudi Arabian Monetary Agency to enhance liquidity in the banking sector and enable it to continue its role in providing credit facilities to all its clients from the private sector, including the role of banks in supporting and financing the sector.

Saudi Arabia 02B 02B - Support policies for long-term lending SAR OECD.

No amount/estimate: March 16, Reduction of the repo rate by 75bps from 1.75% to 1% and the reverse repo rate by 75bps from 1.25% to 0.5%.

Saudi Arabia 02C 02C - Loan guarantees SAR 6,000,000,000 1,600,000,000 KPMG.

SAR6 billion loan guarantee program.

Saudi Arabia 04 04 - Equity support SAR
South Africa 02 02 - Credit creation ZAR 200,000,000,000 12,051,318,128
South Africa 02A 02A - Financial sector lending/funding ZAR