Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Luxembourg 01 01 - Liquidity Support EUR
Luxembourg 01A 01A - Short-term lending EUR KPMG. https://home.kpmg/xx/en/home/insights/2020/04/luxembourg-government-and-institution-measures-in-response-to-covid.html (accessed 21 May 2020)

No amount/estimate: 20 May 2020, The government will grant financial aid up to EUR500,000 in the form of a repayable advance to cover documented loss of income.

Luxembourg 01B 01B - Support policies for short-term lending EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020).

No amount/estimate: In line with the European Central Bank's (ECB) recommendation on dividend distribution during the COVID-19 pandemic, banks were advised to refrain from distributing accumulated profits should this constrains their capacity to meet their clients’ credit and liquidity needs.

Luxembourg 01C 01C - Forex operations EUR
Luxembourg 02 02 - Credit creation EUR 6,100,000,000 6,747,787,611
Luxembourg 02A 02A - Financial sector lending/funding EUR
Luxembourg 02B 02B - Support policies for long-term lending EUR
Luxembourg 02B1 02B1 - Interest rate adjustments EUR
Luxembourg 02B2 02B2 - Other policies to support long-term lending EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020).

No amount/estimate: (i) The Luxembourg authorities have intensified off-site oversight of key risks in the banking sector and stepped up surveillance of investment funds, including new requirements for weekly updates on financial data and fund managers’ governance arrangements. They have introduced a draft law which, among others, grants the supervisory bodies powers to extend, for the duration of the COVID-19 crisis, reporting deadlines for entities under their remit; (ii) Banks were advised to refrain from distributing accumulated profits should this constrain their capacity to meet their clients’ credit and liquidity needs.

Luxembourg 02C 02C - Loan guarantees EUR 6,100,000,000 6,747,787,611 OECD. https://www.oecd.org/coronavirus/en/ (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

(i) 25 March 2020: EUR2.5 billion (3.9% of 2019 GDP) loan guarantee facility of the State of 85% of credit lines granted by selected banks between 18 March and 31 December 2020; (ii) No amount/estimate: Export guarantees provided by the Office du Ducroire; (iii) No amount/estimate: Companies with cash flow difficulties can request guarantees from the “mutualités de cautionnement”; (iv) 30 April 2020, EUR3.6 billion from extending credit guarantees for new bank loans and special anti-crisis financing for SMEs and large companies.

Luxembourg 03 03 - Direct long-term lending EUR 1,000,000,000 1,106,194,690
Luxembourg 03A 03A - Long-term lending EUR 1,000,000,000 1,106,194,690 SNCI. https://www.snci.lu/newsfeed/publications/covid-19-special-anti-crisis-financing/ (accessed 13 April 2020); European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_516 (accessed 11 April 2020); Mutualite de Cautionnement. https://www.cautionnement.lu/actualites/detail/pme-grandes-entreprises-et-independants-lancement-de-laide-remboursable-covid-19-de-500000-euros/ (accessed 13 April 2020)

(i) EUR700 million new loan facility by Societe Nationale de Credit et d'Investissement (SNCI, a public bank) in collaboration with commercial banks, with maximum duration of 5 years; (ii) 25 March 2020, EUR300 million for repayable advances to companies, as well as liberal professions, to cover operating costs (repayment will begin 12 months after obtaining the repayable advance).

Luxembourg 03B 03B - Forbearance EUR Clifford Chance. https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2020/03/Covid-19-Luxembourg-government-takes-economic-measures.pdf (accessed 15 April 2020)

No amount/estimate: (i) The SNCI has announced the relaxation of repayment conditions for existing loans granted by it, suspending principal repayments for direct and indirect loans at the March 31 and June 30 maturities. The duration of all these financings will be automatically extended by 6 months; (ii) April, Commitment by Luxembourg banks to offer a 6-month moratorium on loans for SMEs, self-employed and liberal professionals.

Luxembourg 04 04 - Equity support EUR
Luxembourg 05 05 - Health and income support EUR 9,317,000,000 10,306,415,929
Luxembourg 05A 05A - Health support EUR 264,000,000 292,035,398 OECD. https://www.oecd.org/coronavirus/en/ (accessed 9 May 2020). Ministry of Labor. https://mteess.gouvernement.lu/fr/actualites.gouvernement%2Bfr%2Bactualites%2Btoutes_actualites%2Bcommuniques%2B2021%2B01-janvier%2B22-react-eu.html (accessed 27 January 2021)

(i) Additional expenditures in the context of health and crisis management, notably for the procurement of medical equipment and infrastructure (up to EUR194 million). These are part of the EUR1.45 billion fiscal package from March 2020, and deducted from Measure 5B3; (ii) 22 January 2021, EUR70 million for the "Large Scale Testing - Phase 2" project, managed by the Ministry of Health, covering expenses related to this project for the acquisition of test equipment for analyses. [update]

Luxembourg 05B 05B - Income support EUR 9,053,000,000 10,014,380,531
Luxembourg 05B1 05B1 - Tax and contribution deferrals and policy changes EUR 4,550,000,000 5,033,185,841 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020). Luxembourg government. https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2020/05-mai/20-neistart-relance.html (accessed 4 June 2020) Luxembourg government. https://gouvernement.lu/en/actualites/toutes_actualites/communiques/2020/07-juillet/22-aides-investissements.html (accessed 25 July 2020)

Part of the fiscal package adopted by the Parliament: Postponing tax and social-security contribution payments for the first two quarters of the year (EUR4.55 billion)

Luxembourg 05B2 05B2 - Tax and contribution rates reduction EUR
Luxembourg 05B3 05B3 - Subsidies to individuals and households EUR 2,883,000,000 3,189,159,292 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020). Luxembourg government. https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2020/05-mai/20-neistart-relance.html (accessed 4 June 2020) Luxembourg government. https://gouvernement.lu/en/actualites/toutes_actualites/communiques/2020/07-juillet/22-aides-investissements.html (accessed 25 July 2020). Ministry of Labor. https://mteess.gouvernement.lu/fr/actualites.gouvernement%2Bfr%2Bactualites%2Btoutes_actualites%2Bcommuniques%2B2021%2B01-janvier%2B22-react-eu.html (accessed 27 January 2021)

(i) 25 March 2020, as part of the fiscal package adopted by the Parliament: (a) EUR400 million coverage of employees’ leave for family reasons, (b) EUR1 billion paying partial-unemployment benefits and other expenditures; (ii) 30 April 2020, EUR2.257 billion fiscal package has been partly adopted by the Parliament. Key spending measures include: (a) EUR332 million to cover employees’ leave for family reasons and sick leave and (b) EUR1 billion for paying partial-unemployment benefits; (iii) No amount/estimate: 9 July 2020, the government announced a series of measures to fight unemployment by providing support for unemployed people of advanced age and incentives for businesses to further educate young workers, and making professional training programs more accessible to young workers; (iv) 22 January 2021, EUR70 million to co-finance the partial unemployment scheme in Luxembourg. The State pays during the compensation allowance which corresponds to 80% of the salary of the employee concerned, or even 100% for the social minimum wage. [update]

Luxembourg 05B4 05B4 - Subsidies to businesses EUR 820,000,000 907,079,646 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020). Luxembourg government. https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2020/05-mai/20-neistart-relance.html (accessed 4 June 2020) Luxembourg government. https://gouvernement.lu/en/actualites/toutes_actualites/communiques/2020/07-juillet/22-aides-investissements.html (accessed 25 July 2020)

(i) As part of the EUR1.45 billion fiscal package: EUR50 million providing non-repayable financial aid to micro enterprises; (ii) As part of the EUR2.257 billion fiscal package: (a) EUR400 million to grant capital advances to cover companies’ operating costs; (b) EUR250 million for providing non-repayable financial aid to micro enterprises; (c) No amount/estimate: 22 July 2020, Approved a new aid instrument to cover up to 50% of investments in companies suffering from the impact of the COVID-19 crisis; (ii) 13 November 2020, EUR120 million in capital grants to cover fixed costs and extended flat-rate financial aid for affected sectors (tourism, events, culture and entertainment) through March 2021. Several existing aid schemes (available to all sectors) have been extended through Q2 2021, including partial unemployment benefits, credit guarantees and capital advances.

Luxembourg 05B5 05B5 - Indirect income support EUR
Luxembourg 05B6 05B6 - No breakdown (income support) EUR 800,000,000 884,955,752 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 November 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020). Luxembourg government. https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2020/05-mai/20-neistart-relance.html (accessed 4 June 2020) Luxembourg government. https://gouvernement.lu/en/actualites/toutes_actualites/communiques/2020/07-juillet/22-aides-investissements.html (accessed 25 July 2020)

(i) EUR800 million estimated as total cost of the following measures: (a) cash grants to companies in heavily affected sectors that still do not have authorization to reopen, (b) lump-sum stimulus for SMEs in retail trade, (c) doubling the cost-of-living-allowance and introducing a family-support leave, and (d) investment aid for development, process/organizational innovation, or energy efficiency projects.

Luxembourg 05C 05C - No breakdown (health and income support) EUR
Luxembourg 06 06 - Budget reallocation EUR
Luxembourg 07 07 - Central bank financing government EUR
Luxembourg 07A 07A - Direct lending and reserve drawdown EUR
Luxembourg 07B 07B - Secondary purchase: government securities EUR
Luxembourg 08 08 - International Assistance Received EUR
Luxembourg 08A 08A - Swaps EUR
Luxembourg 08B 08B - International loans/grants EUR
Luxembourg 08B1 08B1 - Asian Development Bank EUR
Luxembourg 08B2 08B2 - Other EUR
Luxembourg 09 09 - International Assistance Provided EUR
Luxembourg 09A 09A - Swaps EUR
Luxembourg 09B 09B - International loans/grants EUR
Luxembourg 10 10 - No breakdown EUR
Luxembourg 11 11 - Other Economic Measures EUR OECD. https://www.oecd.org/coronavirus/en/ (accessed 30 April 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 28 May 2020); RTL. https://today.rtl.lu/news/luxembourg/a/1505902.html (accessed 9 May 2020). Luxembourg government. https://mteess.gouvernement.lu/fr/actualites.gouvernement%2Bfr%2Bactualites%2Btoutes_actualites%2Bcommuniques%2B2020%2B10-octobre%2B06-adem-futureskills.html (accessed 9 October 2020)

(i) Temporary suspension of refunds for cancelled package holidays in support of travel agents; (ii) Commitment by Luxembourg banks to offer a 6-month moratorium on loans for SMEs, self-employed and liberal professionals; (iii) The Luxembourg authorities issued guidance on COVID19-related financial crime and AML/CT issues; (iv) To finance measures, the government issued a EUR2.5 billion bond (3.9% of 2019 GDP) at a negative interest rate; (v) Bilateral agreements with France and Belgium regarding the taxation of cross-border workers resorting to telework in the context of the current crisis; (vi) 6 September 2020, Job training for jobseekers with some secondary education. The program lasts three months and is focused on the development of soft skills, digital skills, project management skills, and optional training in office automation or data and coding.

Luxembourg 12 12 - Non-Economic Measures EUR
Luxembourg 12A 12A - Measures affecting travel and transport (local and international) EUR Luxembourg COVID-19 portal. https://covid19.public.lu/en/news-covid19/communiques/2021/01/26-travel.html (accessed 28 January 2021)

26 January 2021, Anyone, regardless of nationality, aged 6 or over, wishing to travel by air to the Grand Duchy of Luxembourg, must present upon boarding the negative result (on paper or electronic document) of a test that detects SARS-CoV-2 nucleic acid, or of a rapid antigen test, performed up to 72 hours before the flight. In addition, any person traveling by air from a third country, that is a country that is not a member of the European Union or the Schengen area, will have to undergo an additional rapid antigen test upon arrival at Luxembourg. In case of refusal to undergo this test, the person will remain in quarantine for a period of 14 days. This measure will be in place for all air travel to Luxembourg from 29 January to 28 February. [update]

Luxembourg 12B 12B - Measures affecting business and workplace EUR OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 January 2021). KPMG. https://home.kpmg/xx/en/home/insights/2020/04/luxembourg-government-and-institution-measures-in-response-to-covid.html (accessed 21 May 2020).

25 November 2020, the government introduced new restrictions including closures of restaurants and bars.

Luxembourg 12C 12C - Others EUR OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 January 2021). KPMG. https://home.kpmg/xx/en/home/insights/2020/04/luxembourg-government-and-institution-measures-in-response-to-covid.html (accessed 21 May 2020).

(i) People have been encouraged to self-isolate and should only leave the house for essential activities such as food shopping, going to work (note: working-from-home if possible), going to doctors and to help vulnerable people; (ii) All schools, universities and kindergartens have been closed since 16 March. As of 4 September 2020, the government announced a plan for school reopening, including more autonomy for schools to implement specific measures depending on the local health situation; (ii) To achieve a well-sequenced lifting of the lockdown restrictions and avoid a second wave of COVID-19 infections, the government envisages to perform large-scale testing on a voluntary basis, including cross-border commuters; (ii) All public gatherings are prohibited; (iii) All cultural and recreational events (incl. sport events) are suspended; (iv) 20 May 2020, The Luxembourg Ministry for the Economy has set-up a hotline and website with information for enterprises, which includes a FAQ on existing measures for companies, including SMEs (financial support and partial employment); (v) 16 July 2020, Mandatory face masks for both public and private gatherings of more than 20 people in case physical distance of 2 meters cannot be guaranteed; (vi) 16 July 2020, Fines for customers of bars and restaurants if they disregard the precautionary measures; (vii) 22 September 2020, the government extended restrictive measures until year-end and introduced new measures that include: (a) reducing the isolation period for infected people with; (b) allowing the processing of personal data that will be kept for a period of three months and then anonymized; and (c) making it mandatory for airlines to automatically transfer to health authorities forms completed by passengers to facilitate contact tracing; (viii) 29 October 2020, the government introduced temporary measures to address the recent spike in cases, including: (a) 11pm-6am curfew (until 30 November 2020), (b) a 4-person limit on the number of house guests, and (c) mandatory face masks at gatherings of more than 4 people. On 25 November 2020, the curfew was extended until mid-December, and the limit on the number of people at private gatherings was further reduced (see Measure 12B). As of 26 December 2020, the curfew was expanded to 9am-6am, effective until 15 January 2021 [update]; (ix) 4 December 2020, the government announced its COVID-19 vaccination strategy, focusing on (a) centralized procurement and distribution, (b) voluntary and free vaccination for residents and cross-border workers, and (c) continued monitoring of the vaccines' safety and efficacy; (ix) 25 November 2020, the government is imposing a 2-person limit on private gatherings.