Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Marshall Islands 01 01 - Liquidity Support USD
Marshall Islands 01A 01A - Short-term lending USD
Marshall Islands 01B 01B - Support policies for short-term lending USD
Marshall Islands 01C 01C - Forex operations USD
Marshall Islands 02 02 - Credit creation USD
Marshall Islands 02A 02A - Financial sector lending/funding USD
Marshall Islands 02B 02B - Support policies for long-term lending USD
Marshall Islands 02B1 02B1 - Interest rate adjustments USD
Marshall Islands 02B2 02B2 - Other policies to support long-term lending USD
Marshall Islands 02C 02C - Loan guarantees USD
Marshall Islands 03 03 - Direct long-term lending USD
Marshall Islands 03A 03A - Long-term lending USD
Marshall Islands 03B 03B - Forbearance USD
Marshall Islands 04 04 - Equity support USD
Marshall Islands 05 05 - Health and income support USD 42,000,000 42,000,000
Marshall Islands 05A 05A - Health support USD
Marshall Islands 05B 05B - Income support USD
Marshall Islands 05B1 05B1 - Tax and contribution deferrals and policy changes USD
Marshall Islands 05B2 05B2 - Tax and contribution rates reduction USD
Marshall Islands 05B3 05B3 - Subsidies to individuals and households USD
Marshall Islands 05B4 05B4 - Subsidies to businesses USD Office of the President and Cabinet. https://rmigov.info/?p=792 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=853 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=926 (accessed 3 September 2020).

No amount/estimate: As of 7 August 2020, 23 local businesses received financial assistance under the Pandemic (COVID-19) Economic Relief Program (PCERP).

Marshall Islands 05B5 05B5 - Indirect income support USD
Marshall Islands 05B6 05B6 - No breakdown (income support) USD
Marshall Islands 05C 05C - No breakdown (health and income support) USD 42,000,000 42,000,000 Ministry of Finance. COVID-19 Finances (accessed 27 May 2020); International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020, 7 August 2020). Office of the President and Cabinet. https://rmigov.info/?p=500 (accessed 3 September 2020).

April 2020, The government has formulated a Coronavirus Disease Preparedness and Response Plan and is preparing preventive measures amounting to about USD7 million, including construction of quarantine units, purchases of medical equipment, installment of washing stations, and funding for overtime of health workers. 19 May 2020, The cost of the Plan (also being referred to as COVID-19 Pandemic Response Plan) that currently stands at USD37 million now includes education and logistics cluster needs. The funds from the reprogrammed 1st and 2nd quarter unused salaries from the General Fund and the financial assistance from bilateral and multilateral partners have assisted the Government with its preparatory work for the entire Marshall Islands, as well as, provide some economic relief to the private sector most affected by the COVID-19. As of 30 July 2020, The Government has approved a budget of USD42 million for the national preparedness plan in response to the global health pandemic on COVID-19.

Marshall Islands 06 06 - Budget reallocation USD 2,200,000 2,200,000 Ministry of Finance. COVID-19 Finances (accessed 27 May 2020)

19 May 2020, The Cabinet approved a reprogramming of USD2.2 million from 1st to 2nd quarter unused salaries from the General Fund to finance the Coronavirus Disease Preparedness and Response Plan.

Marshall Islands 07 07 - Central bank financing government USD
Marshall Islands 07A 07A - Direct lending and reserve drawdown USD
Marshall Islands 07B 07B - Secondary purchase: government securities USD
Marshall Islands 08 08 - International Assistance Received USD 45,413,813 45,413,813
Marshall Islands 08A 08A - Swaps USD
Marshall Islands 08B 08B - International loans/grants USD 45,413,813 45,413,813
Marshall Islands 08B1 08B1 - Asian Development Bank USD 31,980,000 31,980,000 ADB

(i) 31 March 2020, USD0.37 million under the COVID-19 Emergency Response project; (ii) 15 April 2020, USD0.02 million under the Strengthening Social Protection in the Pacific project; (iii) 21 April 2020, USD6 million under the Pacific Disaster Resilience Program (Phase 2); (iv) 24 April 2020, USD0.13 million under the Developing the Pacific Health Sector (Additional Financing) project; (v) 30 April 2020, USD0.71 million is the estimated support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases. As of 13 July 2020, the estimated support amounted to USD0.59 million; (vi) 5 June 2020, USD0.14 million under Pacific Economic Management, Phase 3 (Additional Financing); (vii) 24 July 2020, USD0.04 million under the Strengthening Social Protection in the Pacific (Additional financing); (viii) 29 July 2020, USD0.63 million under the COVID-19 Emergency Response; (ix) 10 August 2020, USD0.20 million under the Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (x) 12 August 2020, USD0.06 million under the Support for gender sensitive responses to COVID-19 in the Pacific Developing Member Countries; (xi) 24 November 2020, USD6 million under the Pacific Disaster Resilience Program (Phase 3); (xii) 8 December 2020, USD1.5 million under the Ebeye Solid Waste Management Project in the Marshall Islands; (xiii) 11 December 2020, USD16 million under the Health Expenditure and Livelihood Support Program; (xiv) 17 December 2020, USD0.13 million under the Supporting Recovery by Micro, Small and Medium-sized Enterprises in the Pacific from the Effects of the COVID-19 Pandemic; (xv) 18 December 2020, USD0.17 million under the Assessing and Improving COVID-response Capacity in the North Pacific.

Marshall Islands 08B2 08B2 - Other USD 13,433,813 13,433,813 Health Resources and Services Administration (HRSA). https://bphc.hrsa.gov/emergency-response/coronavirus-covid19-FY2020-awards/mh (accessed 19 April 2020); U.S. Embassy in Georgia. https://ge.usembassy.gov/the-united-states-is-assisting-pacific-island-countries-to-respond-to-covid-19-april-22/ (accessed 19 April 2020); HRSA. https://bphc.hrsa.gov/emergency-response/coronavirus-cares-FY2020-awards/mh (accessed 19 April 2020); World Bank. https://www.worldbank.org/en/news/press-release/2020/04/20/world-bank-support-for-marshall-islands-covid-19-response (accessed 19 April 2020); HRSA. https://bphc.hrsa.gov/emergency-response/expanding-capacity-coronavirus-testing-FY2020-awards/mh (accessed 28 May 2020); U.S. Department of the Interior. https://www.doi.gov/oia/covid19 (accessed 28 May 2020). Office of the President and Cabinet. https://rmigov.info/?p=662 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=674 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=731 (accessed 3 September 2020). Office of the President and Cabinet. https://rmigov.info/?p=922 (accessed 3 September 2020). US Department of Labor. https://www.dol.gov/newsroom/releases/eta/eta20200901 (accessed 16 September 2020). Homeland Security. https://www.hstoday.us/industry/over-1-billion-in-airport-grants-to-fund-safety-security-and-construction/ (accessed 16 September 2020).

(i) 24 March 2020, USD73,802 under Marshall Islands Coronavirus (COVID-19) Awards through the Health Resources and Services Administration (HRSA); (ii) 27 March 2020, USD3,894,720 through the DOI Office of Insular Affairs’ Technical Assistance Program under the CARES Act; (iii) Announced on 16 March 2020 and supplemented on 1 April 2020, USD1,103,263.40 through the Centers for Disease Control and Prevention (CDC); (iv) 30 March 2020, USD26,168 through the Department of Health and Human Services (HHS), Office of the Assistant Secretary for Preparedness and Response (ASPR); (v) 8 April 2020, USD853,055 under Marshall Islands CARES Supplemental Funding Awards through the Health Resources and Administration; (vi) 18 April 2020, The World Bank approved a USD2.5 million emergency project for the Republic of Marshall Islands to support the country’s fight against COVID-19. The grant will provide rapid support to better prevent and respond to the threat posed by the coronavirus and support longer term systems strengthening for public health emergencies; (vii) May 2020, USD216,139 under Marshall Islands Expanding Capacity for Coronavirus Testing Awards through the Health Resources and Services Administration; (viii) 12 June 2020, Approximately USD3 million under the Government of Japan’s Economic and Social Development Program for procuring medical equipment that is particularly timely during this COVID-19 pandemic; (ix) No amount/estimate: The RMI received GeneXpert testing kits from the Government of Australia which are part of the Australian Government’s support to strengthen the RMI’s capability in combating COVID-19; (x) 25 June 2020, USD1 million from Taipei,China that will be utilized by Neighboring Islands Preparedness Plan under the RMI Coronavirus (COVID-19) Pandemic Preparedness and Response Plan; (x) No amount/estimate: 22 August 2020, The US Department of Labor approved the RMI’s Implementation Plan further to the RMI’s eligibility for the Pandemic Unemployment Assistance (PUA) under the CARES Act. PUA benefits are payable up to 39 weeks; (xi) 1 September 2020, The US Department of Labor announced USD100,000 in funding to support state efforts to combat fraud and recover improper payments in the Unemployment Insurance (UI) program, including those programs created under the Coronavirus Aid, Relief and Economic Security (CARES) Act; (xii) 5 September 2020, USD666,666 is awarded as airport safety and infrastructure grants through the US Federal Aviation Administration (FAA) under the Airport Improvement Program (AIP).

Marshall Islands 09 09 - International Assistance Provided USD
Marshall Islands 09A 09A - Swaps USD
Marshall Islands 09B 09B - International loans/grants USD
Marshall Islands 10 10 - No breakdown USD
Marshall Islands 11 11 - Other Economic Measures USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

April 2020, Since U.S. dollar is the legal tender of Marshall Islands, there is no monetary measure and no exchange rate and BOP measures.

Marshall Islands 12 12 - Non-Economic Measures USD
Marshall Islands 12A 12A - Measures affecting travel and transport (local and international) USD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020, 14 May 2020, 24 June 2020).

(i) 24 January 2020, Travel restrictions from affected countries have been imposed; (ii) 8 March 2020, Entry of all international travelers by commercial flight has been suspended; (iii) April 2020, To ensure food and other supplies, container vessels and fuel tankers have been exempted from entry restrictions, but with strict safety requirements including prohibition of human contacts and a minimum of 14 days between departure from ten restricted countries and arrival in Marshall Islands; (iv) May 2020, To ensure continuity of transshipment services, a limited number of carrier vessels and purse seiners can enter Marshall Islands for transshipment, after spending 14 days at sea and only after clearance by corresponding agencies; and (v) Container vessels and fuel tankers that have a history of entering Majuro and Ebeye ports with same crew and corresponding health records can enter ports (no disembarkation) without a 14-day quarantine.

Marshall Islands 12B 12B - Measures affecting business and workplace USD
Marshall Islands 12C 12C - Others USD RMI National Disaster Management Office (NDMO). https://ndmo.gov.mh/resource-library/#resource-browser (accessed 3 February 2021).

As of 29 January 2021, the National Disaster Committee (NDC) will submit a recommendation to the Cabinet for the extension of State of Emergency (SOE), including an updated RMI National Pandemic Response Plan and Budget, and Travel Advisory, as it expires on 7 February 2021 [update].