Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Bangladesh 02 02 - Credit creation BDT 370,000,000,000 4,355,503,237
Bangladesh 02A 02A - Financial sector lending/funding BDT 350,000,000,000 4,120,070,630 Ministry of Finance. https://mof.portal.gov.bd/sites/default/files/files/mof.portal.gov.bd/page/ed9e8b19_ccba_4cca_94b1_c40013f7a760/MTMPS_2020-21_English.pdf (accessed 29 June 6). Bangladesh Bank. BRPD Circular Letter No-53 (29 October 2020).

(i) The Ministry of Finance will subsidize interest payments on up to BDT500 billion in working capital loans by scheduled banks to businesses. Half of this amount (BDT 250 billion) will be refinanced by Bangladesh Bank and is included in Item 1 above. Remaining BDT250 billion will be financed by commercial banks from their own funds. (ii) 29 October 2020, increased to BDT400 billion from BDT300 billion, working capital facilities to affected industries and service sector. This is part of the BDT500 billion amount in measure i.

Bangladesh 02B 02B - Support policies for long-term lending BDT
Bangladesh 02B1 02B1 - Interest rate adjustments BDT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020). https://www.bb.org.bd/monetaryactivity/mps/mps.php (accessed 31 July 2020). Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/brpd/sep242020brpdl47.pdf (accessed 25 September 2020).

No amount/estimate: (i) The repo rate has been lowered from 6 percent to 5.75% (effective 24 March 2020) and will be further reduced to 5.25% effective 12 April 2020. (vii) No amount/estimate: 29 July 2020, Bangladesh Bank in its monetary policy statement announced: (a) Overnight repo rate from 5.25% to 4.75%, (b) reverse repo rate from 4.75% to 4.00%, (c) Bank Rate which remained unchanged for the last 17 years (since 2003) to be reduced from 5.00% to 4.00%; (ix) September 24, Bangladesh bank fixed the highest interest rate on credit card loans to 20%.

Bangladesh 02B2 02B2 - Other policies to support long-term lending BDT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020). Bdnews24. https://bdnews24.com/economy/2020/06/15/bangladesh-gives-bank-loan-defaulters-until-september-to-repay-instalments (accessed 26 June 2020). Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/dos/may112020dos03.pdf (accessed 29 June 2020). Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/fepd/mar232020fepd15e.pdf (accessed 29 June 2020).

(i) The Bangladesh Bank (BB) has also raised the advance-deposit ratio (ADR) and investment-deposit ratio (IDR) by 2% to facilitate credit to the private sector and improve liquidity in the banking system; (iii) BB took measures to delay non-performing loan classification; (iv) Banks with capital adequacy ratio (CAR) (in relation to their risk-weighted assets (RWA)) of 12.50% or above will be permitted to declare up to 30% dividend (of which cash dividend may be up to 15%); banks with CAR between 11.25% and 12.50% may declare dividend up to 15% (of which maximum cash dividend may be 7.5%); banks with CAR below 11.25% may declare dividend up to 10% (of which maximum cash dividend may be 5%). Cash dividend can be distributed before 30 September 2020 in favor of individual (local and foreign) investors; (v) 15 June 2020, loan defaulters given until September to repay loans before they are considered default; (vi) Banks may, without repayment guarantee, advance credit up to USD 500k for import of coronavirus related life-saving drugs, medical kits/equipment and other essential medical items.

Bangladesh 02C 02C - Loan guarantees BDT 20,000,000,000 235,432,607 Bangladesh Bank. 2020. SME and Special Programme Department Circular No. 3. (27 July 2020).

27 July 2020, BDT20 billion credit guarantee scheme for cottage, micro and small industries.

Bangladesh 04 04 - Equity support BDT
Bhutan 02 02 - Credit creation BTN/INR
Bhutan 02A 02A - Financial sector lending/funding BTN/INR
Bhutan 02B 02B - Support policies for long-term lending BTN/INR
Bhutan 02B1 02B1 - Interest rate adjustments BTN/INR
Bhutan 02B2 02B2 - Other policies to support long-term lending BTN/INR
Bhutan 02C 02C - Loan guarantees BTN/INR
Bhutan 04 04 - Equity support BTN/INR
European Central Bank 02 02 - Credit creation EUR 4,990,000,000,000 5,519,911,504,425
European Central Bank 02A 02A - Financial sector lending/funding EUR 4,990,000,000,000 5,519,911,504,425 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020); ECB. https://www.ecb.europa.eu/press/accounts/2020/html/ecb.mg200522~f0355619ae.en.html (accessed 22 May 2020); ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp200604~a307d3429c.en.html ( accessed 9 June 2020). ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr201210_1~e8e95af01c.en.html (accessed 12 December 2020). ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp201210~8c2778b843.en.html (accessed 12 December 2020).

(i) 12 March 2020, estimated EUR3 trillion for the targeted longer-term refinancing operations (TLTROs) which are Eurosystem operations that provide financing to credit institutions. By offering banks long-term funding at attractive conditions they preserve favourable borrowing conditions for banks and stimulate bank lending to the real economy; (ii) 12 March 2020, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; (iii) 18 March 2020, launched a new temporary asset purchase programme of private and public sector securities (Pandemic Emergency Purchase Programme, PEPP) with an overall envelope of EUR 750 billion until the end of 2020. Some self-imposed purchase limits will not apply to the PEPP. A waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP. Based on The European Central Bank is “fully prepared” to provide even more stimulus as soon as June to support an economy that may shrink by a tenth this year due to the COVID-19 pandemic, the accounts of the bank’s April meeting showed on Friday; (iv) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper; (v) 4 June 2020, The PEPP envelope will be increased by EUR600 billion to a total of EUR1,350 billion. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions. This allows the Governing Council to effectively stave off risks to the smooth transmission of monetary policy. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over; (vi) 10 December 2020, for all future TLTRO III operations, starting from the March 2021 operation, the maximum amount that counterparties will be entitled to borrow is raised from 50% to 55% of their stock of eligible loans. ; (vii) 10 December 2020, increase the envelope of the pandemic emergency purchase programme (PEPP) by EUR500 billion to a total of EUR1,850 billion. ; (viii) 10 December 2020, net purchases under the asset purchase programme (APP) will continue at a monthly pace of EUR20 billion. The Governing Council continues to expect monthly net asset purchases under the APP to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates .

European Central Bank 02B 02B - Support policies for long-term lending EUR
European Central Bank 02B1 02B1 - Interest rate adjustments EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020). ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr201210_1~e8e95af01c.en.html (accessed 12 December 2020).

(i) 12 March 2020, Lowering the interest rate applied in targeted longer-term refinancing operations (TLTRO III) during the period from June 2020 to June 2021 (25 basis points below the average rate applied in the Eurosystem's main refinancing operations). On 30 April 2020, ECB lowered the rate on the third round of targeted longer-term refinancing operations (TLTRO III) to -1% from -0.75%. On the same day, ECB decided to conduct a series of seven pandemic emergency longer-term refinancing operations (PELTROs) to provide liquidity support to the euro area financial system and ensure smooth money market conditions during the pandemic period; (ii) 10 December 2020, extension by an additional 12 months, to June 2022, of period of favourable interest rates for banks that lend to the real economy under TLTRO III. For the period from 24 June 2021 to 23 June 2022, the interest rate on all outstanding TLTRO III operations will remain 50 basis points below the average rate applied in the Eurosystem’s main refinancing operations over the same period. The interest rate on the main refinancing operations is currently 0%.

European Central Bank 02B2 02B2 - Other policies to support long-term lending EUR EC. https://www.ecb.europa.eu/mopo/implement/omt/html/cspp-qa.en.html (accessed 15 April 2020); EC. https://www.ecb.europa.eu/press/blog/date/2020/html/ecb.blog200409~3aa2815720.en.html (accessed 18 April 2020); EC. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200430_1~477f400e39.en.html [accessed 3 May 2020]; EC. https://www.ecb.europa.eu/mopo/implement/omo/html/index.en.html (accessed 30 April 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020); ECB. https://www.bankingsupervision.europa.eu/press/pr/date/2020/html/ssm.pr200728_1~42a74a0b86.en.html (accessed 30 July 2020). ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp201210~8c2778b843.en.html (accessed 12 December 2020).

No amount/estimate: (i) relaxation of countercyclical capital buffer (CCyB); (ii) 20 March 2020, Flexibility in treatment of non-performing loans (NPLs) to allow banks to fully benefit from public guarantees and moratoriums and of banks' implementation of NPL reduction strategies; (iii) 27 March 2020, requirement for banks not to pay dividends until at least 1 October 2020.; (iv) see (ii) on CCB in Measure 1; (v) 28 April 2020, the European Commission proposed a number of changes to the Capital Requirements Regulation (Regulation (EU) 575/2013) to provide temporary capital relief to banks. These changes include inter alia extending by 2 years the current transitional arrangements for mitigating the impact of IFRS 9 provisions on regulatory capital, a later date of application of the leverage ratio buffer for global systemically important institutions, a more favourable treatment of publicly guaranteed loans under the NPL prudential backstop (the minimum loss coverage requirement for non-performing loans), and advancing the date of application of capital reduction factors in respect of certain loans to SMEs or in support of infrastructure investments; (vi) No amount/estimate: 30 April 2020, New series of non-targeted PELTROs, conducted as fixed rate tender procedures with full allotment, rate fixed at 25bp below refi rate. Operations mature in staggered sequence between July-September 2021; (vii) No amount/estimate: ECB recommended for banks not to pay dividends until January 2021 and clarified that it will not require banks to start replenishing their capital buffers before the peak in capital depletion is reached; (viii) 10 December 2020, extend to June 2022 the duration of the set of collateral easing measures adopted by the Governing Council.

European Central Bank 02C 02C - Loan guarantees EUR
European Central Bank 04 04 - Equity support EUR
European Union 02 02 - Credit creation EUR 56,649,500,000 62,665,376,106
European Union 02A 02A - Financial sector lending/funding EUR 8,295,000,000 9,175,884,956 EIB. https://www.eib.org/en/press/all/2020-145-eib-joins-forces-with-dll-to-provide-up-to-eur400-million-to-finance-the-investments-of-smes-in-spain-and-italy (accessed 19 June 2020); EIB. https://www.eib.org/en/press/all/2020-182-credit-mutuel-alliance-federale-et-la-bei-s-engagent-a-hauteur-de-1-2-milliard-d-euros-pour-soutenir-les-pme-et-eti (accessed 9 July 2020); EIB. https://www.eib.org/en/press/all/2020-174-covid-19-eib-group-and-bbva-provide-eur1423-billion-for-smes-and-mid-caps-affected-by-the-crisis (accessed 18 December 2020); EIB. https://www.eib.org/en/press/all/2020-206-eib-group-and-banco-santander-consumer-portugal-provide-eur-587-million-for-portuguese-smes-and-mid-caps-affected-by-covid-19-crisis (accessed 27 July 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_946 (accessed 5 September 2020); EIB. https://www.eib.org/en/press/all/2020-282-eib-group-and-santander-provide-over-eur900-million-to-support-spanish-smes-affected-by-the-covid-19-crisis (accessed 22 October 2020); EIB. https://www.eib.org/en/press/all/2020-279-italy-eur1-billion-for-smes-and-mid-caps-from-eib-group-and-alba-leasing (accessed 31 October 2020); EIB. https://www.eib.org/en/press/all/2020-291-the-eib-joins-forces-with-ico-and-psa-finance-to-support-spanish-smes-and-mid-caps-affected-by-the-covid-19-crisis (accessed 31 October 2020); EIB. https://www.eib.org/en/press/all/2020-290-eib-and-erste-bank-serbia-signed-eur30-million-loan-to-help-fast-recovery-of-serbian-smes-and-mid-caps (accessed 29 October 2020). EIB. https://www.eib.org/en/press/all/2020-289-eur-190m-eib-support-for-romanian-companies-most-impacted-by-covid-19 (accessed 18 December 2020).

(i) 15 June 2020, The European Investment Bank (EIB) has provided EUR200 million in financing to DLL, a global asset finance company for equipment and technology, and wholly owned subsidiary of Rabobank, to support small and medium-sized enterprises (SMEs) and contribute to a greener economy; (ii) 6 July 2020, EIB granted two lines of credit totaling EUR600 million which will allow Crédit Mutuel Alliance Fédérale to lend more than EUR1.2 billion to French SMEs and mid-caps; (iii) 1 July 2020, The EIB will grant EUR450 million to BBVA, which will in turn add a further EUR450 million, bringing the financing made available to the SMEs and mid-caps in question to EUR900 million; (iv) 27 July 2020, EIB joined with Banco Santander Consumer Portugal (BSCP) to support Portuguese small and medium-sized enterprises (SMEs) and mid-caps affected by the COVID-19 crisis with EUR587 million; (v) June 2020, 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; (vi) 20 October 2020, The EIB Group is subscribing a total of EUR198 million of the securitisation issued by Santander to support SMEs and mid-caps affected by the COVID-19 crisis; (vii) 19 October 2020, The EIB and its subsidiary the European Investment Fund (EIF) have provided the corporate leasing specialist with EUR490 million via a securitisation financing operation. Alba Leasing has undertaken to double this, increasing the total amount available to almost EUR1 billion (EUR980 million) for projects across all economic sectors, with a particular focus on environmental investments (for which 20% of the resources have been reserved); (viii) 22 October 2020, EIB is joining forces with the Instituto de Crédito Oficial (ICO) and PSA Financial Services Spain, E.F.C., S.A. (PSA Finance) to support Spanish small and medium-sized enterprises (SMEs) and mid-caps affected by the coronavirus crisis. To this end, the EIB and ICO will subscribe several tranches of a securitisation of a loan portfolio originated by PSA Finance, a joint venture between Banque PSA Finance (50%) and Santander Consumer Finance (SCF) (50%) focused on vehicle financing. The EU bank will provide EUR250 million while ICO will contribute EUR100 million; (ix) 22 October 2020, EIB and Erste Bank Serbia signed EUR30 million loan to help fast recovery of SMEs and mid-caps; (xvi) 22 October 2020, Hundreds of companies across Romania will benefit from EUR190 million of new private sector EIB financing to support sectors most impacted by the economic, social and health impact of COVID-19. CEC Bank, Intesa Sanpaolo Bank Romania, Unicredit and BRD Sogelease to manage accelerated response programme across the country.

European Union 02B 02B - Support policies for long-term lending EUR
European Union 02B1 02B1 - Interest rate adjustments EUR
European Union 02B2 02B2 - Other policies to support long-term lending EUR 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_740 (accessed 19 August 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1382 (accessed 19 August 2020); ECB. https://www.bankingsupervision.europa.eu/press/pr/date/2020/html/ssm.pr200917~eaa01392ca.en.html (accessed 19 September 2020); EBA https://eba.europa.eu/eba-reactivates-its-guidelines-legislative-and-non-legislative-moratoria (accessed 11 December 2020); ECB. https://www.bankingsupervision.europa.eu/press/pr/date/2020/html/ssm.pr201215~4742ea7c8a.en.html (accessed 4 January 2021); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_2375 (accessed 4 January 2021).

(i) No amount/breakdown: 22 April 2020, Provided guidance on the use of flexibility in relation to COVID-19 and called for heightened attention to risks. The European Banking Authority (EBA) proposed to introduce the use of a 66% aggregation factor to be applied until December 31, 2020 under the "core approach." EBA intended to delay reporting for the first FRTB-SA figures until September 2021. EBA emphasized flexibility in the prudential requirements available to competent authorities for banks using VaR models. EBA also clarified the prudential application on the definitions of "default" and "forbearance," and how the EBA Guidelines on legislative and non-legislative moratoria on loan repayments apply to securitizations; (ii) No amount/breakdown: 18 June 2020, the European Parliament and the European Council adopted the “banking package,” which provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2), including greater flexibility in the application of the EU’s accounting and prudential rules, which are aimed at facilitating bank lending to support the economy; (iii) 24 July 2020, the EC proposed a Capital Markets Recovery Package with targeted adjustments to capital market rules, which aim to encourage greater investments in the economy, allow for the rapid re-capitalization of companies, and increase banks' capacity to finance the recovery; (iv) No amount/estimate: 17 September 2020, The ECB announced today that euro area banks under its direct supervision may exclude certain central bank exposures from the leverage ratio. The move is aimed at easing the implementation of monetary policy. The Capital Requirement Regulation (CRR), as amended by the CRR “quick fix”, allows banking supervisors, after consulting the relevant central bank, to allow banks to exclude central bank exposures from their leverage ratio. Such assets include coins and banknotes as well as deposits held at the central bank; (v) 2 December 2020, the EBA decided to reactivate its Guidelines on legislative and non-legislative moratoria to ensure that loans, which had previously not benefitted from payment moratoria, can now also benefit from them. The role of banks to ensure the continued flow of lending to clients remains of utmost importance and with the reactivation of these Guidelines, the EBA recognizes the exceptional circumstances of the second COVID-19 wave. The EBA revised Guidelines, which will apply until 31 March 2021, include additional safeguards against the risk of an undue increase in unrecognized losses on banks’ balance sheet.; (vi) 15 December 2020, the ECB recommended that banks exercise extreme prudence on dividends and share buy-backs - all banks should consider not distributing any cash dividends or conducting share buy-backs, or to limit such distributions, until 30 September 2021; (vii) 16 December 2020, the EC presented a strategy to prevent a future build-up of non-performing loans (NPL) across the EU and ensure that EU households and businesses continue to have access to the funding they need throughout the crisis. The NPL strategy has four main goals: (i) further develop secondary markets for distressed assets, which will allow banks to move NPLs off their balance sheets, while ensuring further strengthened protection for debtors; (ii) reform the EU’s corporate insolvency and debt recovery legislation, which will help converge the various insolvency frameworks across the EU, while maintaining high standards of consumer protection; (iii) support the establishment and cooperation of national asset management companies (AMCs) at EU level; and (iv) implement precautionary public support measures, where needed, to ensure the continued funding of the real economy under the EU’s Bank Recovery and Resolution Directive and State aid frameworks.

European Union 02C 02C - Loan guarantees EUR 48,354,500,000 53,489,491,150 EIB. https://www.eib.org/en/press/all/2020-086-eib-group-will-rapidly-mobilise-eur-40-billion-to-fight-crisis-caused-by-covid-19 (accessed 16 April 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_569 (accessed 16 April 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); EIB. https://www.eib.org/en/press/all/2020-126-eib-board-approves-eur-25-billion-pan-european-guarantee-fund-to-respond-to-covid-19-crisis.htm (accessed 1 June 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020); European Finance Network. https://www.european-microfinance.org/news/investeu-programme-questions-and-answers (accessed 19 April 2020); EIB. https://www.eib.org/en/press/all/2020-126-eib-board-approves-eur-25-billion-pan-european-guarantee-fund-to-respond-to-covid-19-crisis (accessed 18 December 2020); EIB. https://www.eib.org/en/press/all/2020-174-covid-19-eib-group-and-bbva-provide-eur1423-billion-for-smes-and-mid-caps-affected-by-the-crisis (accessed 9 July 2020); EIB. https://www.eib.org/en/press/all/2020-253-germany-eib-group-and-commerzbank-join-forces-to-support-small-and-mid-sized-companies-in-covid-crisis (accessed 8 October 2020); EIB. https://www.eib.org/en/press/all/2020-274-eib-approves-eur-5-1-billion-for-covid-19-resilience-clean-energy-rail-transport-and-urban-development (accessed 17 October 2020); EIF. https://www.eib.org/en/press/all/2020-298-european-initiative-to-expand-support-of-finnish-smes (accessed 7 November 2020); EIB. https://www.eib.org/en/press/all/2021-020-eib-group-and-btv-join-forces-to-provide-additional-lending-to-smes-and-mid-caps (accessed 22 January 2021).L13

(i) March 2020, the EIB dedicated EUR10 billion in asset-backed securities (ABS) purchasing programs to allow banks to transfer risk on portfolios of SME loans. 10 December 2020: The EIB and EIF issued a EUR795 million guarantee to ING, which will support new lending to Dutch SMEs and Mid-Caps to mitigate impact from COVID-19; (ii) 23 April 2020, Approved EUR5 billion in new financing for businesses affected by the coronavirus, and for the development of medical technology. EUR3 billion was dedicated to businesses in Spain and Italy. The approval represents an extension of the loan package first identified on 16 March 2020; (iii) 26 May 2020, 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 on 15 and 13 July 2020 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; (iv) 15 July 2002, EUR14.7 billion from a EUR16.6 billion EIB approved amount (less EUR1.9 billion for Egypt's transport and SME sectors) for COVID-19 health response and economic resilience, climate, clean transport, energy and housing; (v) 21 July 2020, EIB provided EUR205 million in loans to Adif Alta Velocidad (Spanish rail network) to promote the development of rail infrastructure; (vi) 21 July 2020, EIB provided EUR300 million in loans to the Autonomous Province of Trento for sustainable projects and post-COVID-19 reconstruction; (vii) 22 July 2020, EIB provided EUR125 million in loans for Greece's 826 MW Mytilineos power plant to support energy transition; (viii) 31 July 2020, EIB signed a second tranche worth EUR40 million for the rehabilitation of 180 kilometers 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; (ix) 11 September 2020, EIB lends EUR500 million to the Lazio Region for SMEs, mid-caps, infrastructure, environment and post COVID-19 recovery; (x) 14 September 2020, Montenegrin SMEs and mid-caps in tourism and other sectors severely affected by COVID-19 will benefit from EUR50 million loan that the EIB has signed with the Montenegrin Investment and Development Fund; (xi) 18 September 2020, EIB approves EUR12.6 billion financing for transport, clean energy, urban development and COVID-19 resilience; (xii) 1 October 2020, The EIB Group has provided a mezzanine tranche guarantee of around EUR125 million to Germany’s Commerzbank AG on loans to SMEs and mid-caps to mitigate the impact of the COVID-19 crisis; (xiii) 1 October 2020, The EIB will invest EUR100 million to support COVID-19 recovery of Croatian SMEs and mid-caps; (xiv) 13 October 2020, EIB approved a EUR1 billion direct lending support for companies and health investment in EU member states most impacted by COVID-19 and a EUR2.1 billion to support private sector investment with global financing partners. 4 December 2020, The EIB will invest EUR162.5 million to support the Hungarian healthcare sector’s response to the COVID-19 pandemic. (xvi) 16 December 2020, The EIB approved new financing totaling EUR12.5 billion to support companies impacted by COVID-19, alongside accelerating renewable energy, sustainable transport and urban investment across Europe and around the world. This includes EUR4.1 billion to strengthen public health and private sector resilience to the COVID-19 pandemic. New EIB financing will support medical and pharmaceutical innovation, including testing and treatment, hospital and public health investment and local business lending programs to help companies in sectors most impacted by the pandemic; (xvii) 19 January 2021, EIB Group synthetic securitization of around EUR130 million to enable BTV to lend more than EUR400 million to small and mid-sized businesses in Austria and Germany in response to COVID-19. The operation is backed by the European Fund for Strategic Investments (EFSI) guarantee under the Investment Plan for Europe.

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) 8 April 2020, 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) 24 April 2020, EIB also approved an equity investment worth EUR75 million for the German company Curevac, through the EIB's Infectious Disease Financing Facility; (iii) 8 June 2020, EUR174 million equity investments from the European Innovation Council (EIC) Accelerator Pilot funding to innovative startups and SMEs; (iv) June 2020, 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.

India 02 02 - Credit creation INR 4,254,809,580,000 57,252,791,199
India 02A 02A - Financial sector lending/funding INR 1,254,809,580,000 16,884,739,382 Reserve Bank of India. https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=50176 (accessed 12 August 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

(i) The RBI introduced long-term repo operations (0.4% of GDP for the first tranche and 0.2% of GDP for the second tranche; 1–3 years); (ii) 6 August 2020, Established special refinance facilities for a total amount of INR650 million for all India financial institutions (AIFIs); (iii) 6 August 2020, Extended INR250 million to the National Bank for Agriculture and Rural Development (NABARD) to back agricultural operations in the wake of challenges posed by COVID-19.

India 02B 02B - Support policies for long-term lending INR
India 02B1 02B1 - Interest rate adjustments INR RBI. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49843, https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11893&Mode=0, https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11894&Mode=0 (all accessed 26 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020).

(i) 27 March 2020, The RBI reduced the repo and reverse repo rates by 75 and 90 basis points (bps) to 4.4% and 4.0%, respectively; (ii) 17-20 April 2020: The RBI reduced the reverse repo by 25 bps to 3.75%; (iii) 22 May 2020, the RBI reduced the repo and reverse repo rates further by 40 bps each to 4.0% and 3.35% respectively, and reduced the marginal standing facility and bank rates from 4.65% to 4.25%.

India 02B2 02B2 - Other policies to support long-term lending INR RBI. https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=50288 (accessed 17 September 2020). https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49844 (accessed 10 June 2020); Economic Times, India Times. https://economictimes.indiatimes.com/markets/stocks/news/no-extension-of-loan-moratorium-but-rbi-introduces-debt-resolution-plan-for-eligible-borrowers/articleshow/77392810.cms (accessed 21 August 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020).

No amount/estimate: (i) RBI provided regulatory forbearance on asset classification of loans to micro, small, and medium enterprises (MSMEs) and real estate developers and introduced regulatory measures to promote credit flows to the retail sector and MSMEs; (ii) The Securities and Exchange Board of India temporarily relaxed the norms related to debt default on rated instrument and delayed the implementation of the net stable funding ratio and the last stage of the phased-in implementation of the capital conservation buffers by 6 months; (iii) The limit for foreign portfolio investment (FPI) in corporate bonds has been increased to 15% of outstanding stock for FY 2020/21 and restriction on nonresident investment in specified securities issued by the Central Government was removed; (iv) Announced a standstill on asset classifications during the 3-month loan moratorium period with 10% provisioning requirement and an extension of the time period for resolution timeline of large accounts under default by 90 days; (v) Restriction on banks from making dividend payouts; (vi) 22 May 2020, Authorities have also increased the large exposure limit from 25% to 30% of bank capital. Under the extant guidelines on the Large Exposures Framework, the exposure of a bank to a group of connected counterparties shall not be higher than 25% of the bank’s eligible capital base at all times; (vii) 21 June 2020, the RBI directed banks to assign zero % risk weight on the credit facilities extended under the emergency credit line guarantee scheme (ECLGS). As of the first week of November, the Government extended the ECLGS until 30 November 2020, and then further until 31 March 2021; (viii) 6 August 2020, the RBI permitted banks to restructure existing loans to MSMEs classified as "standard” as of March 1, 2020 without a downgrade in the asset classification. Banks are required to maintain additional provision of 5% over and above the provision already held by them for accounts restructured; (ix) 6 August 2020, the RBI also permitted lenders to implement a resolution plan in respect of eligible corporate exposures as well as personal loans, keeping the ownership unchanged, and without classifying them as non-performing loans. 10% provisioning is required; (x) Extant limit for investments that can be held in HTM category is 25% of total investment. Banks are allowed to exceed this limit provided the excess is invested in SLR securities within an overall limit of 19.5% of NDTL only. On 31 August 2020, banks were allowed to hold fresh acquisitions of SLR securities acquired from 1 September 2020 under held-to-maturity up to an overall limit of 22% through 31 March 2021.

India 02C 02C - Loan guarantees INR 3,000,000,000,000 40,368,051,817 Financial Times. https://www.ft.com/content/5734f333-e4d7-4ebf-9de2-220e537da3f0?accessToken=zwAAAXIRWB3Ykc9XNPMz5NdOv9Od4iIOU32j8A.MEQCIE1obkN05q4qkjoiBgF6riG66o6ocs0SQWfl2AsFIikHAiADu_DmNRDP9bo3QfxgYpytmLV8FGnEHOa8g66dgBdahQ&sharetype=gift?token=4a849e3f-c1b7-487d-ba1d-e73f283cd8c8 (accessed 14 May 2020). India Economics Update, Capital Economics.

13 May 2020, INR3 trillion worth of loan guarantees for small and medium-sized companies.

India 04 04 - Equity support INR
Maldives 02 02 - Credit creation MVR
Maldives 02A 02A - Financial sector lending/funding MVR
Maldives 02B 02B - Support policies for long-term lending MVR
Maldives 02B1 02B1 - Interest rate adjustments MVR
Maldives 02B2 02B2 - Other policies to support long-term lending MVR
Maldives 02C 02C - Loan guarantees MVR
Maldives 04 04 - Equity support MVR