Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Georgia 01 01 - Liquidity Support GEL 2,785,310,750 916,000,000
Georgia 01A 01A - Short-term lending GEL
Georgia 01B 01B - Support policies for short-term lending GEL International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

No amount/estimate: The National Bank of Georgia (NBG) announced measures to support capital and liquidity in the banking sector.

Georgia 01C 01C - Forex operations GEL 2,785,310,750 916,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 January 2021).

(i) NBG has sold USD916 million in five interventions in the foreign exchange market, to prevent disorderly depreciation; (ii) No amount/estimate: 14 May 2020, To ease lari liquidity pressures, the NBG started FX swap lines with banks and microfinance institutions in mid-April.

Georgia 02 02 - Credit creation GEL 930,000,000 305,847,382
Georgia 02A 02A - Financial sector lending/funding GEL 600,000,000 197,320,891 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

7 May 2020, Commercial banks will gain access to a long-term financial resource of GEL600 million.

Georgia 02B 02B - Support policies for long-term lending GEL
Georgia 02B1 02B1 - Interest rate adjustments GEL IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 July 2020). Georgia Today. http://georgiatoday.ge/news/21972/NBG-Reduces-Monetary-Policy-Rate-by-0.25-Percentage-Points- (accessed 6 July 2020)

(i) No amount/estimate: 29 April 2020, The National Bank of Georgia (NBG) reduced its policy rate by 50 bps from 9% to 8.5%. On 24 June 2020, The NBG further reduced this rate to 8.25%. On August 5, The NBG reduced its policy rate by another 25 bp, bringing the refinancing rate to 8%, where it has since remained unchanged.

Georgia 02B2 02B2 - Other policies to support long-term lending GEL
Georgia 02C 02C - Loan guarantees GEL 330,000,000 108,526,490 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 November 2020)

24 June 2020, GEL330 million in a credit guarantee scheme to help businesses cope with the pandemic.

Georgia 03 03 - Direct long-term lending GEL
Georgia 03A 03A - Long-term lending GEL
Georgia 03B 03B - Forbearance GEL IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

No amount/estimate: Bank loan service holidays for individuals was prolonged for 3 more months for those borrowers who asked for extension, now until 1 November 2020.

Georgia 04 04 - Equity support GEL
Georgia 05 05 - Health and income support GEL 3,636,500,000 1,195,929,036
Georgia 05A 05A - Health support GEL 828,500,000 272,467,264 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

(i) 7 May 2020, Additional funds of about GEL350 million will be directed to health spending including lab testing and quarantine expenditures as well as increased costs associated with hospitalization, medical treatment, and medical supplies. (ii) 24 June 2020, GEL478.5 million for healthcare infastructure and other virus spread prevention costs.

Georgia 05B 05B - Income support GEL 2,763,000,000 908,662,705 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020)

On 24 June 2020, Parliament approved amendments to the government's Anti-Crisis Plan, consisting of: item (ii) in 5A, items (i) to (iv) in 5B2, items (i) to (vii) in 5B3, items (i) and (ii) in 5B4, and item (i) in 5C. On August 6, the Prime Minister unveiled additional measures, consisting of: items (viii) to (xii) in 5B3.

Georgia 05B1 05B1 - Tax and contribution deferrals and policy changes GEL
Georgia 05B2 05B2 - Tax and contribution rates reduction GEL 1,495,000,000 491,657,888 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020)

(i) 24 June 2020, GEL1.2 billion in VAT refunds; (ii) No amount/estimate: Income and property tax holidays for hotels (until Nov 1, 2020); (iii) GEL250 million in forgone income tax from waivers on low-income citizens. Monthly salaries up to GEL1500 will have the first GEL750 fully exempted from income tax; (iv) GEL45 million in forgone income tax from exemptions granted to touristic enterprises.

Georgia 05B3 05B3 - Subsidies to individuals and households GEL 1,178,000,000 387,406,683 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020)

(i) GEL450 million in monthly unemployment subsidies of GEL200 per person for 6 months; (ii) GEL170 million in subsidies for gas, electricity, and utilities for users consuming up to 200 kW of electricity and/or up to 200 m3 natural gas monthly; (iii) GEL61 million in additional assistance to low-income families; (iv) GEL24 million in assistance to disabled people and their children; (v) GEL40 million to purchase houses for refugees; (vi) GEL139 million for the State Program for Maintaining Prices of Primary Consumption Food Products. The program envisages subsidies for certain imported products to keep their local price stable (rice, pasta, buckwheat, sunflower oil, sugar, milk powder, beans, wheat, and wheat powder); (vii) No amount/estimate: Starting from January 2021, pensions will be indexed to at least the rate of inflation, with additional increases for pensioners aged 70 and above. Regardless of the actual benchmark rates, the pension increase will be at least GEL20 for the pensioners below 70 and above GEL25 for pensioners above age 70; (viii) GEL160 million in one-time assistance of GEL200 to all children below 18; (ix) GEL35 million to cover 1 semester of university tuition for children from low-income families; (x) No amount/estimate: The government will cover utility costs from November-February for low-income families; (xi) GEL75 million in one-time assistance of GEL300 per person to self-employed persons; (xii) GEL24 million in another batch of one-time assistance of GEL300 per person to self-employed persons.

Georgia 05B4 05B4 - Subsidies to businesses GEL 90,000,000 29,598,134 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020). Agenda.ge. https://agenda.ge/en/news/2021/218 (accessed 28 January 2021)

(i) GEL70 million in interest subsidies, co-financing up to 80% of the interest rate on loans issued to family-owned, small and medium-sized hotels; (ii) GEL20 million in additional micro-grants; (iii) No amount/estimate: 27 January 2021, the government will grant interest subsidies of fitness centres. This decision is expected to be approved at the next government meeting. [update]

Georgia 05B5 05B5 - Indirect income support GEL
Georgia 05B6 05B6 - No breakdown (income support) GEL
Georgia 05C 05C - No breakdown (health and income support) GEL 45,000,000 14,799,067 UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020)

(i) GEL45 million to cover costs of organizing quarantine spaces, as well as sponsoring flights that returned Georgians from different parts of the world.

Georgia 06 06 - Budget reallocation GEL
Georgia 07 07 - Central bank financing government GEL
Georgia 07A 07A - Direct lending and reserve drawdown GEL
Georgia 07B 07B - Secondary purchase: government securities GEL
Georgia 08 08 - International Assistance Received GEL 3,113,899,005 1,024,062,212
Georgia 08A 08A - Swaps GEL
Georgia 08B 08B - International loans/grants GEL 3,113,899,005 1,024,062,212
Georgia 08B1 08B1 - Asian Development Bank GEL 1,329,134,478 437,110,000 ADB Table A1.2: Sovereign Lending and Asian Development Fund Grant Operations, Table A1.3: Nonsovereign Operations, Table A1.4: Asia Pacific Disaster Response Fund and Technical Assistance, Table A1.5: Country Support under TA 9550-REG. (all accessed 5 February 2021)

(i) April, Guarantee under Trade Finance Program (Additional Financing) - USD18.4 million (with an additional USD71.69 million co-financed); (ii) April, Loan under Trade Finance Program (Additional Financing) - USD5.56 million (with an additional USD0.76 million co-financed); (iii) TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases - USD1.8 million [update]; (iv) 28 May 2020, COVID-19 Pandemic Response Option (CPRO) under ADB’s Countercyclical Support Facility - USD102.24 million; (v) 3 June 2020, Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (Additional Financing) - USD0.07million; (vi) 25 June 2020, Preparing the Second Domestic Resource Mobilization Program (Additional Financing) - USD0.1 million; (vii) 30 June 2020, Quality Jobs and the Future of Work - USD0.1 million; (viii) 13 July 2020, Addressing Health Threats in the Central, West, and East Asia Region - USD0.13 million; (ix) 24 July 2020, Due Diligence and Capacity Development of Trade Finance Program Banks - USD0.06 million; (x) 6 October 2020, Capacity Development for the Supply Chain Finance Program - USD0.02 million; (xi) 15 October 2020, COVID-19 Support for Agriculture Borrowers Project - USD4 million; (xii) 29 October 2020, Fiscal Resilience and Social Protection Support Program - USD201.74 million; (xiii) 5 November 2020, Creating Investable Cities in Post-COVID-19 Asia-Pacific: Enhancing Competitiveness and Resilience through Quality Infrastructure - USD0.11 million; (xiv) 16 November 2020, COVID-19 Support Micro, Small, and Medium-sized Enterprises - USD100 million (with an additional USD100 million co-financed); (xv) 18 November 2020, Supporting Startup Ecosystem in the Central Asia Regional Economic Cooperation Region to Mitigate Impact of COVID-19 and Support Economic Revival - USD 0.05 million; (xvi) 26 November 2020, Addressing Health Threats in the Central, West, and East Asia Region (Additional Financing) - USD0.03 million; (xvii) 3 December 2020, COVID-19 Emergency Response - USD2.5 million; (xviii) 10 December 2020, Preparing the Second Domestic Resource Mobilization Program - USD0.2 million.

Georgia 08B2 08B2 - Other GEL 1,784,764,527 586,952,212 WB. https://www.worldbank.org/en/news/press-release/2020/04/29/world-bank-pledges-80-million-to-support-georgias-response-to-covid-19-pandemic (accessed 14 May 2020). UN. http://mptf.undp.org/factsheet/fund/COV00 (accessed 22 May 2020). AIIB. https://www.aiib.org/en/news-events/news/2020/AIIB-Approves-EUR91.34-Million-COVID-19-Emergency-Assistance-to-Georgia.html (accessed 28 May 2020). European Invesment Bank. https://www.eib.org/en/press/all/2020-185-eib-group-and-bank-of-georgia-join-forces-to-support-businesses-in-georgia-to-better-deal-with-the-consequences-of-the-covid-19-crisis (accessed 8 July 2020). World Bank. https://www.worldbank.org/en/news/press-release/2020/06/30/world-bank-provides-additional-support-to-help-georgia-mitigate-the-economic-impacts-of-covid19 (accessed 9 July 2020). AIIB. https://www.aiib.org/en/news-events/news/2020/AIIB-Approves-EUR45-Million-Loan-to-Georgia-for-COVID-19-Crisis-Mitigation.html (accessed 23 July 2020). EIB. https://www.eib.org/en/press/all/2020-396-team-europe-eib-to-invest-eur25-million-to-aid-recovery-of-georgian-enterprises-from-covid-19-pandemic-and-expand-a-credit-line-with-tbc-bank-jsc (accessed 7 January 2021). EBRD. https://www.ebrd.com/news/2020/ebrd-boosts-financing-for-georgian-smes-via-tbc-leasing.html (accessed 7 January 2021). EBRD. https://www.ebrd.com/news/2021/ebrd-and-eu-strengthen-support-to-small-businesses-in-georgia.html (accessed 4 January 2021)

(i) 29 April 2020, USD80 million provided by the World Bank under its Fast Track COVID-19 Facility; (ii) 1 May 2020, USD200 million provided by the IMF under its Extended Fund Facility; (iii) 21 May 2020, USD1 million in grants from UN agencies (USD175,000 from UNFPA, USD400,000 from UNDP, and USD425,000 from UNICEF) as part of the UN COVID-19 Response and Recovery Fund; (iv) 22 May 2020, EUR91.34 million from the Asian Infrastructure Investment Bank (AIIB) (co-financed by the World Bank) to finance Georgia’s health infrastructure and social protection measures, support early detection and confirmation of cases, as well as disease surveillance and strengthening of health system preparedness; (v) 26 May 2020, USD2.7 million to prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication, and more; (vi) The European Invesment Bank (EIB) and the Bank of Georgia have signed a guarantee agreement of up to EUR60 million backed by the InnovFin SME Guarantee Facility covering 50% of every loan disbursed by the Bank of Georgia; (vii) EUR45 million in additional financing for the Georgia Economic Management and Competitiveness Development Policy Operation (DPO). This supplemental development policy financing aims to support the Government of Georgia in covering an unanticipated financing gap that has arisen due to the impacts of the COVID-19 pandemic; (viii) 21 July 2020, EUR45 million from the AIIB's COVID-19 Crisis Recovery Facility to mitigate the negative economic and social impacts of COVID-19 and sustain the momentum of pre-pandemic reforms that support economic growth and resilience; (ix) 21 December 2020, EUR25 million from the European Investment Bank (EIB), the lending arm of the European Union, to expand a credit line for Georgian small and medium-sized enterprises (SMEs) and mid-caps available at TBC Bank JSC; the operation will help accelerate the recovery of the national economy from the COVID-19 pandemic; (x) 22 December 2020, EUR6 million loan from the European Bank for Reconstruction and Development (EBRD) TBC Leasing to broaden access to finance for MSMEs, especially those in the regions; (xi) 2 February 2021, EUR1.8 million from the EBRD to help local firms rebuild their businesses after the pandemic with a focus on sustainable and green practices. [update]

Georgia 09 09 - International Assistance Provided GEL
Georgia 09A 09A - Swaps GEL
Georgia 09B 09B - International loans/grants GEL
Georgia 10 10 - No breakdown GEL 500,000,000 164,434,076 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).

7 May 2020, GEL500 million will be provided to support businesses, including through the credit guarantee scheme. Financing for working capital will increase. This belongs in Measures 1A and 2C.

Georgia 11 11 - Other Economic Measures GEL UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020)

(i) June 24, The custom clearance term for vehicles imported before 1 April 2020 was extended to 1 September 2020 for car importers; (ii) From 3 April 2020 to 10 May 2020, Temporary export ban on diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, etc; (iii) Import ban of live animals from China; (iv) Export ban on masks; (v) VAT exemption for the import of some medical goods.

Georgia 12 12 - Non-Economic Measures GEL
Georgia 12A 12A - Measures affecting travel and transport (local and international) GEL UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 13 December 2020). Civil.ge. https://civil.ge/archives/392589 (accessed 28 January 2021)

(i) From 21 March 2020 to 22 May 2020, The country was under a state of emergency closing domestic and international borders. Domestic tourism reopened on 15 June 2020, while international tourists were accepted starting September; (ii) 22 January 2021, Public transport will remain closed in the capital city of Tbilisi, as well as in two large cities of Rustavi and Kutaisi until 1 March. In the port cities of Batumi and Poti, as well as in Zugdidi, Gori and Telavi, municipal transport (albeit available only on workdays) will resume as planned starting 1 February. [update]

Georgia 12B 12B - Measures affecting business and workplace GEL UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 8 December 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 January 2021). Civil.ge. https://civil.ge/archives/392589 (accessed 28 January 2021)

(i) From 21 March 2020 to 22 May 2020, The country was under a state of emergency mandating social distancing, mask wearing, as well as the closure of schools and shops (other than groceries and gas stations). (ii) June 8, Restaurants with indoor seating, selected hotels, and currency exchange offices were allowed to reopen; (iii) 13 July 2020, Outdoor cultural events and indoor rehearsals are allowed; (iii) As of 15 October 2020, Restaurants and entertainment facilities are banned from operating past 10pm; (iv) From 16-30 January 2021, shops and businesses will reopen, but only during the weekdays. The curfew between 9 a.m. and 5 a.m. will be maintained until end-January; (v) 22 January 2021, All kinds of shops and shopping malls will reopen in the cities, while open and closed marketplaces will also be back to work starting 15 February. Finally, the ban on gyms, swimming pools, as well as the restrictions in place in Georgia’s ski resorts – originally set to open on 1 February – have been kept in effect until further notice. [update]

Georgia 12C 12C - Others GEL UNESCAP. https://www.unescap.org/sites/default/files/Georgia_COVID%20Country%20profile%20280820.pdf (accessed 13 December 2020). Civil.ge. https://civil.ge/archives/392589 (accessed 28 January 2021)

(i) Under the state of emergency from March-May 2020, citizens were also subject to a 9pm-6am curfew. When going outside, they were also expected to carry identity documents at all times; (iii) As of 9 November 2020, curfew will be re-imposed from 10pm-5am due to a recent resurgence in cases. The curfew between will be maintained until end-January 2021. Development of the pandemic curve will guide the government’s further decisions; (ii) On 15 June 2020, The government released an expanded list of high-risk groups who would be able to avail mandatory, free-of-charge COVID-19 testing; (iii) During 3-15 January 2021, there will be an official public holiday, which means that none of the public or private organizations will work, except for banks and strategic state services. All the containment measures effective during November 28 and December 24 will be reinstituted; (iv) 22 January 2021, Schools will remain closed in the capital city of Tbilisi, as well as in two large cities of Rustavi and Kutaisi until 1 March. In the port cities of Batumi and Poti, as well as in Zugdidi, Gori and Telavi, physical attendance at schools will resume as planned starting 1 February.