Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Finland 01 01 - Liquidity Support EUR 2,000,000,000 2,212,389,381
Finland 01A 01A - Short-term lending EUR 2,000,000,000 2,212,389,381 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

March, (i) EUR1 billion of the Bank of Finland's support liquidity by investing in short-term Finnish corporate commercial paper; (ii) EUR1 billion for the State Pension Fund investments in commercial paper.

Finland 01B 01B - Support policies for short-term lending EUR
Finland 01C 01C - Forex operations EUR
Finland 02 02 - Credit creation EUR 86,080,000,000 95,221,238,938
Finland 02A 02A - Financial sector lending/funding EUR
Finland 02B 02B - Support policies for long-term lending EUR 82,000,000,000 90,707,964,602 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/finland-government-and-institution-measures-in-response-to-covid.html (accessed 16 April 2020).

(i) EUR52 billion in lending capacity due to the 1 ppt reduction in the structural buffer requirements of all credit institutions by removing the systemic risk buffer and adjusting institution-specific requirements; (ii) EUR30 billion in lending capacity due to the decisions of the macroprudential supervisors of other countries.

Finland 02C 02C - Loan guarantees EUR 4,080,000,000 4,513,274,336 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); Finnvera. https://www.finnvera.fi/finnvera/uutishuone/uutiset/finnve (accessed 18 May 2020); MInistry of Finance, Finland. https://vm.fi/artikkeli/-/asset_publisher/valtioneuvosto-myonsi-valtiontakausjarjestelyn-finnairin-lainalle (accessed 24 May 2020); Ministry of Finance. https://vm.fi/artikkeli/-/asset_publisher/valtio-takaa-tyollisyysrahaston-lainoja (acccessed 19 June 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/July/14072020.html (accessed 16 July 2020).

(i) Mar 20, EUR600 million of state guarantee for Finnair. On May 20, the fund was finally established for a maximum loan guarantee fund of EUR540 million (the EU Commission authorized only a 90% guarantee on loan, nevertheless, added in the amounts column is the EUR600 million, the total loans available under this fund) ; (ii) EUR600 million of state guarantee for shipping companies; (iii) No amount/estimate: May 7, Finnvera (official export credit agency) increased its guarantee share for SME loans from 80% to 90%; (iv) June 11, EUR880 million, state guarantee for loans and interest from the Employment Fund; (v) July 14, The new COVID-19 Credit Guarantee Scheme (CGS) amounting to EUR2 billion will make low cost loans available to businesses impacted by the pandemic. It will ensure that SMEs, primary producers and small Mid-Caps can access liquidity to keep their businesses operating, as the economy continues to reopen and more and more people get back to work. It will be available for a wide range of products including overdrafts, term loans and working capital .

Finland 03 03 - Direct long-term lending EUR 14,200,000,000 15,707,964,602
Finland 03A 03A - Long-term lending EUR 14,200,000,000 15,707,964,602 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 18 May 2020).

(i) EUR 14.2 billion (increased from EUR10 billion) to expand Finland’s Export Credit Agency's lending and guarantee capacity to small and medium enterprises; (ii) no amount/estimate: March 20, easier re-borrowing of pension contributions allowed.

Finland 03B 03B - Forbearance EUR
Finland 04 04 - Equity support EUR 710,500,000 785,951,327 MEE. https://tem.fi/artikkeli/-/asset_publisher/ensimmaiset-valtionavustukset-kunnille-yksinyrittajien-tukemiseksi (accessed 3 May 2020); https://vm.fi/en/article/-/asset_publisher/10616/hallitus-paatti-vuoden-2020-neljannesta-lisatalousarvioesityksesta (accessed 9 June 2020); European Sting. https://europeansting.com/2020/06/10/state-aid-commission-approves-e286-million-finnish-measure-to-recapitalise-finnair/ (accessed 15 June 2020); Ministry of Economic Affairs and Employment of Finland. https://tem.fi/artikkeli/-/asset_publisher/nordfuel-oy-n-haapaveden-biojalostamohankkeelle-24-5-miljoonaa-euroa-uusiutuvan-energian-suurten-demohankkeiden-investointitukea (accessed 19 June 2020).

(i) June 6, Further capital funding of EUR250 million is proposed for Tesi (Finnish Industry Investment Ltd), to increase equity financing for companies ; (ii) June 6, Capital funding of EUR 150 million is proposed for strengthening the balance sheet of Finnish Minerals Group ; (iii) June 10, The EU Commission approved Finland's plans to contribute to the recapitalisation of Finnair, amounting to EUR286 million through the subscription of new shares by the State in the rights issue launched by Finnair on 10 June 2020 in the context of the coronavirus outbreak ; (iv) June 15, EUR24.5 million of investment support for NordFuel Oy's Haapevesi biorefinery project for large renewable energy demo projects .

Finland 05 05 - Health and income support EUR 27,770,900,000 30,720,022,124
Finland 05A 05A - Health support EUR 1,005,000,000 1,111,725,664 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 21 April 2020).

March 20, (i) EUR1 billion for healthcare and testing, protection and medical equipment, public safety and border controls, and research on the coronavirus epidemic, in particular to develop methods for rapid diagnostics and vaccines and a knowledge base for timely decision-making on coronavirus measures, (especially on the exit strategy; (ii) EUR5 million contribution to international non-profit companies working on the development of a COVID-19 vaccine.

Finland 05B 05B - Income support EUR 26,765,900,000 29,608,296,460 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#F (accessed 9 May 2020); MEE. https://tem.fi/artikkeli/-/asset_publisher/ensimmaiset-valtionavustukset-kunnille-yksinyrittajien-tukemiseksi (accessed 3 May 2020); https://vm.fi/en/article/-/asset_publisher/10616/hallitus-paatti-vuoden-2020-neljannesta-lisatalousarvioesityksesta (accessed 9 June 2020); Ministry of Social Affairs and Health. https://stm.fi/en/article/-/asset_publisher/tyottomyysetuuden-suojaosaa-korotetaan-ja-liikkuvuusavustuksen-ehtoja-muutetaan-valiaikaisesti (accessed 19 June 2020); Ministry of Economic Affairs and Employment of Finland. https://tem.fi/en/-/hallitus-esittaa-jatkoa-toimille-joilla-on-tuotu-turvaa-ja-joustoa-tyomarkkinoille-korona-aikana (accessed 25 June 2020); Finnish Government. https://valtioneuvosto.fi/en/-/1410877/government-supports-the-recovery-and-development-of-tourism-with-additional-funding-of-eur-4.5-million (accessed 5 July 2020); Valtioneuvosto Statsradet. https://valtioneuvosto.fi/-/valtioneuvosto-antoi-asetuksen-meriliikenteen-tukemisesta (accessed 14 July 2020). Ministry of Economic Affairs and Employment of Finland. https://tem.fi/-/lisamaararahaa-jaettiin-elyille?languageId=en_US (accessed 3 September 2020).

March 20, (i) EUR1.05 billion (increased from EUR900 million) in lower pension contributions through the remainder of 2020; (ii) EUR650 million for grants to SMEs and self-employed; and (iii) EUR3 billion for expanded parental allowance, social assistance and unemployment insurance; (iv) EUR4.5 billion i.7n tax and pension payment deferrals; (v) EU12 billion in increase in fiscal deficit from automatic stabilizers (4-5.0) percentage points of GDP; (vi) April 20, EUR250 million grants for sole proprietors for the cost of running business; (vii) EUR40 million to support restaurants in employing workers and EUR83 million compensation for the imposed restrictions on activities; (viii) EUR5.1 billion (which is part of the fourth supplementary budget of 6 June amounting to EUR 5.5 billion) focusing on aid to municipalities and measures supporting quick economic recovery. This stimulus package is aimed at boosting demand, improving Finland’s long-term growth prospects, combating climate change, promoting biodiversity, and reinforcing the entire country’s capabilities, resilience, self-sufficiency, and skills and competences. The package also includes measures supporting local government that are intended to secure basic services and alleviate the challenges for local government finances resulting from the virus crisis. The supplementary budget proposal also includes a set of measures to support the wellbeing of children and young people; (ix) No amount/estimate: June 11, The exempt amount of the unemployment benefit will be temporarily raised. Eligibility for commuting and relocation allowance for full-time work will be temporarily amended by decreasing the distance required for daily commuting. The aim is to improve the financial security of unemployed persons when they take part-time work or other short-term work in a situation where full-time work is not yet available. Another aim is to help people find full-time work or seasonal work critical for agriculture ; (x) No amount/estimate: June 5, The Government proposes to continue the measures that have secured the livelihoods of jobseekers and entrepreneurs and helped businesses to overcome the worst of the crisis. The measures concern lay-offs and co-operation procedures; the right of laid-off employees and entrepreneurs to unemployment benefit; and start-up funding; (xi) July 1, EUR4.5 million fund to develop tourism in regions (EUR4 million) and domestic campaign to promote domestic tourism (EUR0.5 million) ; (xii) EUR28.4 million compensation for maritime transport; (xiii) August 27, the Government decided in its fourth supplementary budget for 2020 on the regional allocation of employment appropriations for the management of the coronavirus crisis. A total of EUR60 million was allocated to the Centres for Economic Development, Transport and the Environment (Ely Centres). The appropriations will be mainly used for employment services and training for young people as well as for the development of competencies through training and coaching in cooperation with businesses [update].

Finland 06 06 - Budget reallocation EUR
Finland 07 07 - Central bank financing government EUR
Finland 07A 07A - Direct lending & reserve drawdown EUR
Finland 07B 07B - Secondary purchase: government securities EUR
Finland 08 08 - International Assistance Received EUR
Finland 08A 08A - Swaps EUR
Finland 08B 08B - International loans/grants EUR
Finland 08B1 08B1 - Asian Development Bank EUR
Finland 08B2 08B2 - Other EUR
Finland 09 09 - International Assistance Provided EUR 5,500,000 6,084,071
Finland 09A 09A - Swaps EUR
Finland 09B 09B - International loans/grants EUR 5,500,000 6,084,071 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (1 May 2020).

The Finnish Government agreed to increase funding for the World Health Organization (WHO) to EUR5.5 million .

Finland 10 10 - No breakdown EUR
Finland 11 11 - Other Economic Measures EUR Finnish Government. https://valtioneuvosto.fi/en/-/1271139/amendments-to-pharmaceutical-legislation-aim-to-ensure-availability-and-sufficiency-of-medicines- (accessed 18 July 2020).

Amendments to pharmaceutical legislation to allow Ministry of Social Affairs and Health has the right to temporarily restrict or authorise the prescription and dispensing of medicines intended for treating infectious diseases .

Finland 12 12 - Non-Economic Measures EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (1 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#C (acccessed 13 August 2020).

March 16, the government invoked the Emergency Powers Act, which was used to close borders, restrict domestic movements, and expand service obligations of essential health-, social services-, and security personnel. Restrictions to and from the region of Helsinki were lifted on April 14. On May 4, the government announced a plan to lift broad restrictions in favor of more targeted containment measures, including: on May 14, resumption of primary and lower secondary school and cross-border movement of essential traffic; on June 1, reopening of restaurants and public facilities and limits on public gatherings increased from 10 to 50 people; on July 31, resumption of public events with more than 500 people. Effective June 16, the government repealed the use of powers under the Emergency Powers Act, declaring that the country is no longer in a state of emergency. Barring any significant setbacks, the restrictions on gatherings will be lifted altogether on October 1. On June 23, the government announced the lifting of internal border control and restrictions on traffic between Finland and countries with similar incidence of COVID-19 with a limit value of 8 new cases per 100,000 persons in the previous 14 days. As of July 13, travel between Finland and non-EU countries on the ‘green list’ approved by the Council of the European Union will be permitted subject to restrictions which depend on the incidence of COVID-19.

Finland 01 01 - Liquidity Support EUR 2,000,000,000 2,212,389,381
Finland 01A 01A - Short-term lending EUR 2,000,000,000 2,212,389,381 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

March, (i) EUR1 billion of the Bank of Finland's support liquidity by investing in short-term Finnish corporate commercial paper; (ii) EUR1 billion for the State Pension Fund investments in commercial paper.

Finland 01B 01B - Support policies for short-term lending EUR
Finland 01C 01C - Forex operations EUR
Finland 02 02 - Credit creation EUR 83,200,000,000 92,035,398,230
Finland 02A 02A - Financial sector lending/funding EUR
Finland 02B 02B - Support policies for long-term lending EUR 82,000,000,000 90,707,964,602 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/finland-government-and-institution-measures-in-response-to-covid.html (accessed 16 April 2020).

(i) EUR52 billion in lending capacity due to the 1 ppt reduction in the structural buffer requirements of all credit institutions by removing the systemic risk buffer and adjusting institution-specific requirements; (ii) EUR30 billion in lending capacity due to the decisions of the macroprudential supervisors of other countries.

Finland 02C 02C - Loan guarantees EUR 1,200,000,000 1,327,433,628 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

(i) Mar 20, EUR600 million of state guarantee for Finnair; (ii) EUR600 million of state guarantee for shipping companies.

Finland 03 03 - Direct long-term lending EUR 10,000,000,000 11,061,946,903
Finland 03A 03A - Long-term lending EUR 10,000,000,000 11,061,946,903 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

(i) EUR10 billion for Finland’s Export Credit Agency's lending and guarantee capacity to small and medium enterprises; (ii) no amount/estimate: March 20, easier re-borrowing of pension contributions allowed.

Finland 03B 03B - Forbearance EUR
Finland 04 04 - Equity support EUR