Other ADB Members
Sum of Measures 1—5 (Total Package)
|Measure||Amount (Local)||Amount (USD)||Details||Update||Source|
|01 - Liquidity Support info_outline||SEK83,524,000,000||USD8,492,224,476|
|01A - Short-term lending info_outline||SEK63,700,000,000||USD6,476,637,842||
(i) 18 March 2020, The Riksbank is offering the banks the opportunity to borrow an unlimited amount of money on a weekly basis against collateral at three or six months’ maturity (at an interest rate of the repo rate plus 0.2 percentage points, which was reduced to the repo rate in July). The aim is to strengthen banks' access to liquidity, and it is a new measure to mitigate the effects of the COVID-19 pandemic. Peak total lending amounted to SEK31.7 billion (21 February 2021); (ii) To mitigate the effects of the COVID-19 pandemic on the Swedish economy, the Riksbank intends to purchase securities in an amount of up to SEK700 billion, up to 31 December 2021, in addition to the purchases planned prior to the pandemic. These purchases will include inter alia securities issued by non-financial corporations – commercial paper and corporate bonds. The total holdings of commercial paper is up to SEK32 billion. Peak total purchases of commercial papers amounted to SEK12.4 billion (21 June 2021).
|01B - Support policies for short-term lending info_outline||
No amount/estimate: (i) Easing rules for the use of covered bonds as collateral; (ii) Possibility for banks to temporarily breach the liquidity coverage ratio (LCR) for individual currencies and for total currencies.
|01C - Forex operations info_outline||SEK19,824,000,000||USD2,015,586,634||
Up to USD60 billion auction by the Riksbank against collateral to monetary policy counterparties (2020 auctions: March 26; April 2, 16, 23, 30; May 14, 28; June 11, 25; July 9, 23; August 6, 20). Peak claims on residents inside Sweden denominated in foreign currency amounted to SEK19.824 billion. 15 September 2020, The Riksbank has decided to continue to offer its monetary policy counter-parties loans in US dollars against collateral until 31 March 2021. 10 March 2021, The Riksbank shall continue to offer loans to banks in US dollars until 30 September 2021 and is still valid for up to USD60 billion.
|02 - Credit creation info_outline||SEK1,167,075,000,000||USD118,661,257,606|
|02A - Financial sector lending/funding info_outline||SEK1,057,000,000,000||USD107,469,485,072||
(i) On 13 March 2020, The Riksbank decided to lend up to SEK500 billion to banks to safeguard the supply of credit to companies, to prevent them from being knocked out as a result of the spread of the coronavirus. To encourage banks, the loans will be granted at a variable interest rate equivalent to the Riksbank's repo rate, at present 0%, and they will have a maturity of 2 years. 10 March 2021, Riksbank decided to stop offering further funding under the program of loans to banks for onward lending and instead start a new, similar funding for lending program called Funding to banks to support corporate lending (UBF) (For details, see https://bit.ly/39JbGBH). 20 September 2021, The UBF Program was terminated. Peak total loans for onward lending amounted to SEK164.5 billion (31 July 2020); (ii) 20 March 2020, The Riskbank will purchase mortgage and other covered bonds issued in Swedish kronor in the secondary market, with maturities of more than one year. Until 30 September 2020, the Riksbank is offering to purchase covered bonds for SEK145 billion. 1 July 2020, The Riksbank is offering to purchase covered bonds for SEK210 billion until 31 December 2020. 26 November 2020, The Riksbank is offering to purchase covered bonds for SEK280 billion until 31 March 2021. 9 February 2021, The Riksbank will purchase covered bonds for SEK340 billion until 30 June 2021. 26 April 2021, The Riksbank will purchase covered bonds for SEK390 billion until 30 september 2021. 30 June 2021, The Riksbank will purchase covered bonds for SEK435 billion until 31 December 2021. Peak total purchases of covered bonds amounted to SEK415 billion (5 November 2021 [update]); (iii) 15 May 2020, Until 30 September 2020, the Riksbank is offering to purchase municipal bonds for SEK30 billion in the secondary market. The purchases are part of the bond-purchasing programme adopted on 16 March 2020 and that runs until the end of December 2020. 2 July 2020, the Riksbank is offering to purchase municipal bonds for SEK45 billion until 31 December 2020. 26 November 2020, The Riksbank is offering to purchase municipal bonds for SEK68.5 billion until 31 March 2021. 9 February 2021, The Riksbank will purchase municipal bonds for SEK96.5 billion until 30 June 2021. 30 June 2021, The Riksbank will purchase municipal bonds for 109 billion until 31 December 2021. Peak total purchases of municipal bonds amounted to SEK101.7 billion (5 November 2021 [update]); (iv) 1 September 2020, Riksbank's Executive Board has decided to begin purchases of corporate bonds in the week beginning 14 September 2020. Between 1 September 2020 and 30 June 2021, the Riksbank would offer to purchase corporate bonds at a nominal amount of SEK10 billion. 26 April 2021, the Riskbank is offering to purchase corporate bonds at a nominal amount of SEK12 billion until 30 September 2021. 30 June 2021, the Riskbank is offering to purchase corporate bonds at a nominal amount of SEK13 billion until 31 December 2021. The purchases strengthen the Riksbank's ability to act if the supply of credit to companies deteriorates further as a result of the COVID-19 pandemic. The purchases will be made on the secondary market and include non-subordinated corporate bonds issued by companies with a credit rating corresponding to Baa3/ BBB- or higher with a remaining maturity of up to five years. Peak total purchases of corporate bonds amounted to SEK12.38 billion (5 November 2021 [update]).
|02B - Support policies for long-term lending info_outline||SEK5,000,000,000||USD508,370,317|
|02B1 - Interest rate adjustments||
No amount/estimate: (i) 24 March 2020, Reduction of lending rate for overnight loans by 55 basis points (from 0.75% to 0.2%) while leaving the repo rate unchanged at 0%; (ii) 1 July 2020: (a) Cut the interest rate on the standing loan facility from the repo rate plus 0.2 percentage points to the repo rate plus 0.1 percentage points; (b) Cut the interest rate and offered longer maturities on the weekly extraordinary loans to banks-the interest rate is cut from the repo rate plus 0.2 percentage points to the repo rate, (c) Cut the interest supplement that applies if the requirement for onward lending to Swedish companies is not met, from 0.20 percentage points to 0.10 percentage points.
|02B2 - Other policies to support long-term lending||SEK5,000,000,000||USD508,370,317||
(i) No amount/estimate: On 24 March 2020, the Financial Supervisory Authority (FSA) stressed that it expects credit institutions to stop this year's dividend payments and use the earnings to further strengthen their capital; (ii) Temporary recognition of all credit institutions under the supervision of the FSA as counterparties, enabling them to access the new lending facility; (iii) Easing of countercyclical capital buffer by 2.5 percentage points; (iv) Extension of the phase-in period for the banks to comply with the new minimum requirements for own funds and eligible liabilities (MREL) until 2024 (from 2022); (v) 30 June 2020, The FSA has urged supervised banks and credit institutions to refrain from paying dividends or buying back shares; (vi) 1 July 2020, loans are offered at maturities of three months and six months; (vii) Extended the maturity on loans to banks for onward lending to companies from two to up to four years; (viii) 13 January 2021, The Riksbank has strengthened the risk buffer through a financial risk provision of SEK5 billion for 2020 due to the increased financial risks brought on by the government's response to the COVID-19 pandemic.
|02C - Loan guarantees||SEK105,075,000,000||USD10,683,402,218||
(i) SEK5 billion in guarantees for airlines; (ii) SEK50 billion increase of the ceiling for credit guarantees from EKN (the agency which insures export companies and banks against the risk of non-payment in export transactions) (to SEK500 billion from SEK450 billion), same amount as during the 2008 financial crisis, and the coverage is extended to sea shipping. 10 December 2020, the Government proposed to extend the SEK50 billion state credit guarantee program for loans to companies until 30 June 2021.; (iii) SEK75 million of government guarantees on 70% of new bank loans to companies experiencing financial difficulty but otherwise robust; (iv) 5 May 2020, Within the SEK5 billion guarantee for airlines already computed, the Debt Office issued a credit guarantee of SEK1.5 billion to Scandinavian Airlines System Aktiebolag (together with Denmark, for the same amount); (v) 27 May 2020, Together with the Centre Party and the Liberal Party, the Government proposed an additional SEK400 million for Almi Invest. The additional funding is aimed at bridging the crisis in small innovative businesses and avoiding the loss of structural capital and intangible assets in the life science sector and others. The amount will be added to the package once approved.
|03 - Direct long-term lending info_outline||SEK78,000,000,000||USD7,930,576,949|
|03A - Long-term lending info_outline||SEK78,000,000,000||USD7,930,576,949||
(i) The Swedish Export Credit Corporation’s credit framework will be increased from SEK125 billion to SEK200 billion and can be used to provide both state-supported and commercial credit to Swedish export companies; (ii) Almi, a state agency which offers loans to companies with growth potential and assists in their business development, will get a new capital grant of SEK3 billion (about EUR270 million) to allow it to lend more to small and medium enterprises; (iii) No amount/estimate: 4 February 2021, State loan to organizers of package tours so that they can repay their remaining debts to travelers.
|03B - Forbearance||
No amount/estimate: Suspension of amortization requirement until June 2021 (banks and borrowers may agree to reduce or suspend amortization payments temporarily).
|04 - Equity support info_outline||SEK5,000,000,000||USD508,370,317||
30 June 2020, The Government will participate in the recapitalization of SAS AB with an amount of no more than SEK5 billion. The government supports the submitted plan for a recapitalization of the company and the measures necessary to implement the plan. On 17 August 2020, The measure to recaptalize SAS was approved by the European Commission (EC).
|05 - Health and income support||SEK853,957,392,353||USD86,825,318,098|
|05A - Health support||SEK57,412,000,000||USD5,837,311,331||
(i) SEK3 billion compensation to municipalities and regions for extraordinary measures and extra costs in health and medical care (raised on 2 April from initial SEK2 billion); (ii) 2 April 2020, SEK20 billion additional grants to municipalities and regions in 2020, up from SEK5 billion previously planned, of which SEK12.5 billion will be permanent; (iii) 7 May 2020: (a) Extended reimbursement for the first day of sickness (SEK3.2 billion), (b) continued suspension of medical certificate requirement (SEK1.1 billion), (c) central government responsibility for sick pay costs extended and adjusted (SEK9 billion), and (d) financial support to sick self-employed (SEK250 million); (iv) 11 May 2020, New measures to strengthen health elderly care (SEK5 billion); (v) 4 June 2020, The government is pledging an additional SEK5.9 billion for additional virus testing; (vi) 26 June 2020, SEK82 million is paid out to municipalities, regions, and the country administrative board in Stockholm for the supervision of temporary infection control measures at serving places. The Act on Temporary Infection Protection Measures at Serving Places comes into force on July 1; (vii) 4 September 2020, SEK30 million is set aside to support the municipalities' work to strengthen medical care; (vii) 11 January 2021, The government is investing SEK50 million in research on long-term COVID; (viii) 11 February 2021, SEK4 billion to the regions for deferred care and COVID-19-related care in 2021; (ix) 11 February 2021, SEK1 billion for the extension of the reimbursement period for additional costs in care and nursing; (x) 26 February 2021, SEK50 million funding for the Swedish Research Council for research on long-term symptoms as a result of a history of COVID-19 disease, so called long-term COVID; (xi) No amount/estimate: 11 March 2021, The government introduced a temporary state support for ambulance air transport to ensure round-the-clock access of the health service during the outbreak of COVID-19 disease. The support can be provided with a maximum of 70% of the fixed costs and support amounts to a maximum of just over SEK16 million per activity for the total application period; (xii) 15 April 2021, Allocations in the Spring budget: (a) SEK1.7 billion for the reinforcement of resources for rapid vaccination; (b) SEK1.7 billion for continued large-scale testing and tracing; (c) SEK800 million for the extension of sick pay standard deduction; (d) SEK300 million for the extension in sickness benefit on account of deferred health care; (e) SEK100 million for the extension of exemption from requirement of a doctor’s certificate; (xiii) No amount/estimate: 22 April 2021, Sweden borrows 200,000 AstraZeneca vaccine doses from Norway; (xiv) 14 May 2021, Additional SEK150 million for urgent transports. The opportunity to apply for compensation is extended until the end of the year; (xv) No amount/estimate: 21 May 2021, The government decided to join the EC on its new agreement with Pfizer/BioNTech on the addition of increasing vaccine doses from 20 million to 40 million in 2022 and 2023.
|05B - Income support||SEK774,856,392,353||USD78,782,798,004|
|05B1 - Tax and contribution deferrals and policy changes||SEK635,000,000,000||USD64,563,030,294||
(i) 25 March 2020, SEK315 billion, companies can defer 3 months payment of employer social security contributions, preliminary tax on salaries and VAT for up to 12 months, with interest; 4 February 2021, Extension of tax deferral for crisis-stricken companies. The new law contains several changes including 6-month deferral of tax payments. Fully utilized, this means an additional SEK300 billion in liquidity reinforcement; (ii) 25 March 2020, To support SMEs, it will also be allowed to defer the value-added tax reported annually. Hence, companies can defer the payment of last year's VAT that is due shortly. If this is used to the maximum, it can amount to SEK7 billion; (iii) SMEs can claim back the preliminary tax paid in 2019 and either pay it later or set it off against future losses (the maximum liquidity reinforcement could amount to SEK13 billion).
|05B2 - Tax and contribution rates reduction||SEK53,000,000,000||USD5,388,725,363||
25 March 2020, (i) SEK20 billion for cancelling taxable profits of SMEs (sole proprietors and partners in Swedish partnerships) for 2019; (ii) SEK33 billion for temporary reduction of employers' social security contributions to the old age pension contribution.
|05B3 - Subsidies to individuals and households||SEK27,396,840,000||USD2,785,548,049||
(i) 16 March 2020, SEK20 billion subsidy for short-term lay-offs; (ii) 7 May 2020, Higher ceiling for unemployment insurance benefits (SEK1.1 billion); (iii) 2 September 2020, EUR8.5 million in total compensation is allocated for parents who pay the costs for childcare entirely themselves because of COVID-19; (iv) 18 December 2020, SEK1 billion in the 2021 budget to be distributed as scholarships and support to artists and other actors in the cultural field; (vi) 12 January 2021, Increased opportunity for short-term layoffs as a result of a new pandemic law. From January to March 2021, companies will be able to reduce working hours up to 80% (from maximum 60%). The state will cover 75% of the cost of reducing working hours. It is tentatively estimated that the total cost of short-term work will amount to SEK10.7 billion in 2021. 19 February 2021, SEK1.2 billion for the extension of the support until April 2021. 10 May 2021, SEK1.66 billion for the extension of the short-term support for 3 more months from July to September 2021; (vii) 9 March 2021, The government intends to extend the compensation to risk groups and certain relatives until the vaccinations for people in risk group are completed. The measures that are extended include: (a) some sickness benefit for preventive purposes for certain risk groups; (b) some carrier allowance for certain relatives of risk groups; (c) preventive temporary parental benefit for parents of some recently seriously ill children. 15 April 2021, SEK1.7 billion in the Spring budget is allocated for this support; (ix) 24 March 2021, SEK560 million in the Spring budget for the housing allowance of eligible families with children; 15 April 2021, (x) SEK100 million in the Spring budget for the extension of tax and charge exemption for free parking benefit.
|05B4 - Subsidies to businesses||SEK41,495,000,000||USD4,218,965,263||
(i) 25 March 2020, SEK5 billion for temporary discount for rental costs in vulnerable sectors (consumer goods, hotels, restaurants and certain other activities), government covering 50%; (ii) No amount/estimate: 7 July 2020, The Government has adopted an ordinance that enables the provision of compensation for the temporary suspension of fishing activities – tie-up support – to commercial fishers who have been particularly affected by the COVID-19 pandemic; (iii) 7 July 2020, As a way to mitigate the economic consequences of the virus outbreak, the government allocates SEK5 billion in support of reduced fixed rents for vulnerable industries in sectors such as retail, hotels, restaurants and certain other activities; (iv) 16 July 2020, SEK70 million for capacity-building initiatives in the hospitality industry; (v) No amount/estimate: 17 July 2020, Compensation will be given for ships that have been taken out of service due to the spread of the coronavirus; (vi) 6 August 2020, Corona crisis support of SEK500 million to the news media; (vii) No amount/estimate: 16 October 2020, An extended adjustment support for May and June and July, respectively, has now been approved by the EC. The aid will be granted to companies that have had a certain loss of turnover between two reference periods; (viii) No amount/estimate: 12 January 2021, Companies that lose a large part of their turnover during the periods November-December 2020 and January-February 2021 will be able to have up to 90% of their fixed costs reimbursed through the adjustment support; (ix) No amount/estimate: 18 January 2021, Companies that have lost all their sales during a period due to closure will be able to get 100% of their fixed costs reimbursed, up to a ceiling of SEK75 million per company and month. The support is aimed at companies that have been prevented from conducting their business as a result of closure decisions issued with the support of the Pandemic Act and lost at least 30% of sales; (v) 5 January 2021, SEK50 million for compensation for providers of PPEs of personal assistants. 4 March 2021, SEK75 million grant for the extension of the compensation period; (x) 12 February 2021, The EC approved the SEK14 billion scheme to support uncovered fixed costs of companies affected by the coronavirus outbreak. The purpose of the scheme is to mitigate the economic difficulties and the sudden liquidity shortages that the beneficiaries are facing due to the restrictive measures imposed by the Swedish government to limit the spread of the coronavirus; (xii) No amount/estimate: 9 March 2021, The EC has approved Sweden’s state aid to introduce increased adjustment support for June and July, which is aimed at Swedish companies that lost turnover during June and July due to the ban on gathering more than 50 people at public gatherings and public events, Sweden's entry ban for countries outside the EEA / Switzerland or the Foreign Ministry's travel recommendations; (xiii) 10 March 2010, The government notified the European Commission (EC) of the reintroduction of the rent rebate for the period January-March 2021. EC approved the state aid on 31 March 2021. 8 April 2021, The government is now proposing to extend the subsidy until 30 June 2021. The support is designed so that landlords who reduce the fixed rent for tenants during the period 1 January to 31 March 2021 are compensated with 50 percent of the reduced fixed rent. 15 April 2021, SEK3 billion is allocated in the Spring budget for the extension of this support; (xiv) No amount/estimate: 18 March 2021, The government introduced new turnover-based support for trading partnerships in which at least one partner is a natural person; (xv) 24 March 2021, SEK6.2 billion for the extension of the regular adjustment support until June 2021 for companies that have lost more than 30% of their sales compared to the corresponding month in 2019. Support will be given for a share of companies’ uncovered fixed costs; (xvi) 25 March 2021, Turnover-based support to sole traders and trading companies with at least one natural person as a partner will be extended until June 2021. Support is provided at 75% of the actual turnover loss. 15 April 2021, SEK2 billion is being allocated for this support in the Spring budget; (xvii) 1 April 2021, SEK2.3 billion for the extension of the adjustment support for particularly affected companies until April 2021. The aid reimburses a share of the company's fixed costs depending on the percentage loss of sales caused by the designated restrictions; (xviii) 1 April 2021, The government is proposing SEK2.5 billion for the extension until June 2021 of the compensation to employers for the part of the sick pay cost that exceeds the normal; 15 April 2021, (xix) SEK600 million in the Spring budget for the extension of turnover-based support for trading partnerships; (xx) SEK200 millin in the Spring budget for the reduced employers' social security contributions for young people in the summer months.
|05B5 - Indirect income support||SEK14,653,899,310||USD1,489,921,488||
(i) 20 March 2020, SEK500 million (EUR45 million) for cultural activities that lose revenue as a result of the restriction on public events and the same amount for sports. 12 June 2020, Investment of SEK 150 million for regional and local culture will support the cultural infrastructure. 9 September 2020, SEK1.5 billion in extra support for culture in 2020; (ii) 19 May 2020, Allocated SEK720 million to extend maintenance work on railways, and increased road maintenance by SEK300 million. In light of the coronavirus, the reduced traffic allowed the government to pursue infrastructure spending. In addition to improvements in rail and road networks, the investment also contributes positively to employment; (iii) 27 May 2020, The Swedish Agency for Economic and Regional Growth mandate is being strengthened (SEK11 million) to facilitate the matching of unemployed people to the green industries; (iv) 2 July 2020, SEK100 million is allocated so that municipalities can offer jobs for young people this fall; (v) 7 July 2020, SEK3.3 million in 2020 for educational programs in shortage occupations, and SEK1.7 million for lifelong learning at the Swedish University of Agricultural Sciences; (vi) 4 September 2020, SEK30 million is set aside to support the municipalities' work to strengthen medical care; (vii) No amount/estimate: 28 September 2020, The government has also decided to expand the opportunities for jobseekers to study for up to a year while retaining financial compensation when it is justified to be able to get a job; (viii) As of 23 December 2020, EUR151.6 million (SEK1.35 billion) has been allocated to Sweden for the European Agricultural Fund for Rural Development (EAFRD) under NexGenerationEU. Areas supported by the fund include assistance in the setting up of young farmers, agri-environmental and climate measures, assistance for areas facing natural constraints, support for organic farming, protection of biodiversity, investment in the agri-food and forestry sectors, etc.; (ix) 13 January 2021, SEK30 million to strengthen the conditions for distance education; (x) 26 February 2021, SEK60 million to further strengthen organizations working for society's most vulnerable during the corona crisis; (xi) 4 April 2021, SEK200 million targeted subsidy to municipalities for infection-proof and free holiday activities for children and young people; (xii) 15 April 2021, Allocations in the Spring budget: (a) SEK3.2 billion for increased number of persons in short-term work; (b) SEK400 million for the reinforcement of the Rural Development Program; (c) SEK2 billion for the extension of support for the culture sector and sports movement; (d) SEK3.5 billion for event support; (xiii) 19 May 2021, Additional SEK600 million to sport to mitigate the economic impact of the COVID-19 pandemic, facilitate the resumption of activities once the situation allows and contribute to gender-equal and equitable sports activities.
|05B6 - No breakdown (income support)||SEK3,310,653,043||USD336,607,548||
(ii) 19 May 2021, Additional SEK750 million for the extension of emergency support distributed to public cultural activities, artists and other actors in the area of culture.(i) As of 23 December 2020, EUR288 million (USD260.352 million) has been allocated to Sweden under REACT_EU (Recovery Assistance for Cohesion and the Territories of Europe) of NextGenerationEU. REACT-EU funds are intended to support: job maintenance, including through short-time work schemes and support for the self-employed; job creation and youth employment measures; health care systems; and the provision of working capital and investment support for small and medium-sized enterprises. The additional support will also serve to invest in the European Green Deal and digital transition, as an enhancement to the significant investment in those areas that is already taking place through EU cohesion policy;
|05C - No breakdown (health and income support)||SEK21,689,000,000||USD2,205,208,762||
(i) 12 January 2021, Increased funding by SEK89 million to Swedish Civil Contingencies Agency for efforts during the corona pandemic; (ii) 15 April 2021, Allocations in the Spring budget: (a) SEK300 million for other measures for vaccination and limiting the spread of infection; (b) SEK300 million for other measures to alleviate the consequences of the pandemic; (iii) 10 June 2021, Extra amending budget of SEK21 billion for 2021 for the extension until the third quarter of several measures including: support and compensation to companies, municipalities and regions; social insurance: funds for vaccination; stimulus support for culture and sports, etc.
|06 - Budget reallocation info_outline|
|07 - Central bank financing government||SEK91,000,000,000||USD9,252,339,774|
|07A - Direct lending and reserve drawdown|
|07B - Secondary purchase: government securities||SEK91,000,000,000||USD9,252,339,774||
16 March 2020, SEK300 billion Riksbank increase of purchases of securities in 2020 (including government and municipal bonds, covered bonds and securities issued by non-financial corporations). 1 July 2020, The framework for the asset purchases is being extended from SEK300 billion to SEK500 billion up to the end of June 2021. 27 April 2020, Riksbank will, between 1 May and 30 September 2020, purchase nominal Swedish government bonds for a nominal amount totalling SEK18 billion in addition to the previously decided purchases of government bonds during the period July 2019–December 2020. Until 30 September 2020, the Riksbank is offering to purchase government bonds for SEK25.5 billion, in addition to the previously decided purchases of government bonds. 1 July 2020, The Riksbank is offering to purchase government bonds for SEK45.5 billion, in addition to the previously decided purchases of government bonds until 31 December 2020. 26 November 2020, To improve the conditions for a recovery, the Executive Board has decided to expand the envelope for the asset purchases by SEK200 billion, to a total nominal amount of up to SEK700 billion, and to extend the asset purchase programme to 31 December 2021. Until 31 March 2021, the Riksbank is offering to purchase government bonds for SEK59 billion, in addition to the previously decided purchases of government bonds. Until 31 December 2021, the Riksbank will purchase government bonds for SEK 91 billion, in addition to the previously decided purchases of government bonds. Peak total purchases of government bonds within the program of asset purchases was SEK86 billion (29 October 2021 [update]).
|08 - International Assistance Received||SEK595,403,765,332||USD60,537,120,218|
|08A - Swaps info_outline||SEK590,121,000,000||USD60,000,000,000||
Establishment of a swap facility of USD60 billion between the Riksbank and the US Federal Reserve (mutual currency arrangement). 5 August 2020, The swap agreement is extended by 6 months, until 31 March 2021. 29 January 2021, The swap agreement further extended for six months up to 30 September 2021. 1 July 2021, The swap agreement was further extended for three months until 31 December 2021.
|08B - International loans/grants||SEK5,282,765,332||USD537,120,218|
|08B1 - Asian Development Bank|
|08B2 - Other||SEK5,282,765,332||USD537,120,218||
(i) 10 December 2020, The Nordic Investment Bank signed a seven-year loan agreement of SEK500 million (EUR49.24 million) with Swedish airport operator Swedavia AB to cope with the challenges caused by the COVID-19 pandemic; (ii) As of 23 December 2020, EUR151.6 million (USD167.7 million or SEK1.65 billion) has been allocated to Sweden for the European Agricultural Fund for Rural Development (EAFRD) under NexGenerationEU; (iii) As of 23 December 2020, EUR288 million (USD318.58 million or SEK3.13 billion) has been allocated to France under REACT_EU (Recovery Assistance for Cohesion and the Territories of Europe) of NextGenerationEU.
|09 - International Assistance Provided||SEK10,340,000,000||USD1,051,309,816|
|09A - Swaps info_outline|
|09B - International loans/grants||SEK10,340,000,000||USD1,051,309,816||
(i) 16 June 2020, The Swedish parliament has given its approval to the Riksbank lending around SEK6.9 billion to the International Monetary Fund, for onward lending to low-income countries as part of the IMF’s Poverty Reduction and Growth Trust; (ii) 17 June 2020, The government has decided on a contribution to the World Bank's fund for low-income countries, IDA, of SEK9.2 billion, which will be paid out over a period of nine years. The contribution to IDA will be crucial for many poor countries as they now tackle the effects of the COVID-19 crisis on public health, the economy and the labor market (where the money should go to for the next 3 years, estimated at SEK3 billion); (iii) 30 September 2020, Sweden intends to contribute SEK100 million to the vaccine against COVID-19 in low- and middle-income countries; (iv) 10 November 2020, The government is investing SEK140 million to mitigate the impacts of the COVID-19 pandemic on sexual and reproductive health, with a focus on Africa; (v) 18 January 2021, SEK100 million in support of increased challenges in in democracy and human rights in Asia and Oceania due to COVID-19; (vi) 11 February 2021, SEK100 million grant to COVAX to enable more residents in low- and middle-income countries as well as in humanitarian crisis areas to have access to vaccines; (vii) No amount/estimate: 4 May 2021, The Government plans to donate one million vaccine doses to the COVAX global vaccine cooperation.
|10 - No breakdown|
|11 - Other Economic Measures||
12 June 2020, Sweden's parliament appointed two academics to review the unprecedented period of negative interest rates and massive asset purchases conducted by the central bank between 2015 and 2020.
|12 - Non-Economic Measures|
|12A - Measures affecting travel and transport (local and international)||
(i) 14 March 2020, The Ministry of Foreign Affairs advised against non-essential travel to all countries; (ii) Relatives should avoid "unnecessary visits" to hospitals from 1 April 2020, and a ban on visiting elderly care institutions is imposed; (iii) 14 May 2020, The temporary entry ban began to apply on 19 March 2020 and initially applied for 30 days. It was subsequently extended until 15 May 2020 in accordance with the recommendation of the Commission. The Government has now decided on a further extension of the entry ban until 15 June; (iv) 13 June 2020, Public transport where a place cannot be booked should be avoided; (v) 17 June 2020, The Foreign Ministry announced that it will lift its advice against non-essential travel to 10 European countries (Greece, Croatia, Spain, Italy, Portugal, Slovenia, France, Iceland, Belgium, Switzerland, and Luxembourg) from 30 June. For other European countries, the advice against non-essential travel will remain; (vi) 2 July 2020, Extension of temporary entry ban to Sweden until 31 August 2020 and easing of restrictions for more travellers; (vii) 30 July 2020, Sweden has lifted its advice against non-essential travel to four more countries: the Czech Republic, Denmark and Norway, and Switzerland. The ministry's recommendations against non-essential travel to other countries in the EU, EEA and Schengen area, as well as the UK, were extended until 12 August 2020; (viii) 13 August 2020, The advice against unnecessary travel to Liechtenstein and Austria is lifted. Advice against non-essential travel to other countries within the EU, the EEA (European Economic Area) and the Schengen area as well as the United Kingdom is extended until 26 August 2020; (ix) 15 September 2020, Sweden will lift the ban on visits to care homes; (x) 22 October 2020, The temporary entry ban to the EU via Sweden will be extended until 22 December 2020. 17 December 2020, the ban was further extended until 21 March 2021; (xi) 22 December 2020, The government decided to severely restrict possibilities to travel from the United Kingdom and Denmark to Sweden. 24 January 2021, the temporary entry ban was expanded to Norway; (xi) 18 January 2021, The government adopted the COVID-19 Act which entered into force on 10 January 2021 and is in effect until 30 September 2021. The Act is intended to give the government the authority to adopt more binding communicable disease control measures such as introducing special limitations to public transport and domestic flights; (xii) 9 February 2021, The government proposes to restrict the number of passengers on means of transport to half of the seating capacity for long-distance public transport; (xiii) 14 March 2020, The Ministry for Foreign Affairs decided to advise against non-essential travel to all countries. 31 March 2021, The Ministry decided to extend its advice against non-essential travel to all countries outside the EU/EEA/ Schengen area/United Kingdom. The decision remains in effect until 31 May 2021; (xiv) 24 March 2021, The general entry ban from all countries is extended until 31 May 2021 and the requirement to present a negative COVID-19 test remains upon entry from all countries. The amendments will apply from 31 March 2021; (xv) 31 March 2021, The government has decided to lift the separate entry restrictions for travel from Denmark and Norway; (xvi) 15 July 2021, Long-distance public transport operators has been allowed operate at full capacity; (xvii) 15 July 2021, Municipalities can no longer ban the public from accessing certain spaces where crowding may occur; (xviii) 26 August 2021, The government has extended the ban on entry to Sweden from countries outside and within the EU/EEA until 31 October 2021 or until further notice; (xix) 2 September 2021, The government has reintroduced ban on entry to Sweden for travelers from the US, Israel, Kosovo, Lebanon, Montenegro and North Macedonia from 6 September to 31 October 2021; (xx) 20 September 2021, Sweden has decided to recognize vaccination passports issued in Switzerland, Turkey, Ukraine, North Macedonia, San Marino, and the Vatican City State. Travelers from these countries are now exempt from the entry ban and test requirement; (xxi) 27 September 2021, Vaccinated people from Albania, Andorra, Faroe Islands, Israel, Morocco, Monaco Panama, UK (11 October 2021), and Armenia (11 November 2021 [update]) are exempted from the entry ban and test requirement; (xxii) 24 September 2021, The travel advice against unnecessary travel to a number of countries, especially within Europe has been lifted. The advise will be applied to other countries on 1 October 2021; (xxiii) 30 September 2021, The temporary entry ban for travelers from a non-EEA State or Switzerland is extended until 31 October 2021; (xxiv) 4 October 2021, The temporary entry ban is reimposed on residents of Bosnia and Herzegovina and the Republic of Moldova but is lifted for residents of Chile, Kuwait and Rwanda; (xviii) 28 October 2021, The ban on entry to Sweden is extended until 30 November 2021 for residents from countries within EU/EEA, and 31 January 2021 for residents outside EU/EEA [update].
|12B - Measures affecting business and workplace||
(i) Many secondary schools and universities have switched to distance learning; (ii) Events with more than 50 persons are banned since 27 March 2020. 22 October 2020, The government has decided that public dance events for more than 50 people will again be banned; (iii) 11 November 2020, The government plans to ban the sale of alcohol in bars, restaurants and night clubs after 10 p.m. as it fights to contain a surge in COVID-19; (iv) 18 November 2020, All public gatherings would be limited to eight people, down from a previous upper limit of 30; (v) 3 December 2020, The Prime Minister announced that high schools will switch to distance learning from 7 December 2020 until the end of the term; (vi) 8 January 2021, Restrictions on the number of people in shops, businesses and public places including theaters and swimming pools. Fines will be imposed on individuals flouting coronavirus rules businesses can be ordered to close in the case of violations; (vii) 18 January 2021, With the COVID-19 Act in force, the government now has the authority to introduce special limitations relating to public gatherings and events, places for recreational/cultural activities and commercial centers that are open to the general public, etc.; (viii) 5 February 2021, The following national restrictions have been extended: ban on the sale of alcohol after 20.00; home working – only employees whose physical presence is essential for the conduct of agency activities should be in the government agency’s premises; remote or distance instruction for upper secondary schools but adjusted to allow some face-to-face instruction; wearing of face masks in public transport; (ix) 21 May 2021, Markets will be regulated in the same way as other trading venues rather than as a public event; (x) 21 May 2021, The instruction to public authorities of ensuring that only employees whose physical presence is necessary to conduct operations are present in the agency’s premises will be extended until 15 September 2021.
|12C - Others||
(i) 30 December 2020, authorities took steps to increase measures against the virus, recommending commuters wear masks on public transport during rush hour as the country announced a record death toll from COVID-19; (ii) 3 February 2021, The government decided that foreign nationals will have to present a negative test result for ongoing COVID-19 infection upon entry into Sweden, regardless of where they are arriving from; (iii) 26 March 2021, Sweden supports UN declaration on global access to vaccine against COVID-19; (iv) 21 May 2021, More precise regulations for public gatherings and events to take effect on 1 June 2021. Indoor gathering limited to 8 participants while outdoor gatherings are limited to 100 participants. Recreational races and similar Sport events are limited to 150 competitors. Visitors of permanent funfairs will be limited to 20 sqm/person; (v) 21 May 2021, Disease control measures in long-distance public transport by train and bus will be extended from 1 June until 14 August 2021. The number of passengers on a vehicle trafficking routes longer than 150 kms. does not exceed half of the vehicle’s seating capacity.(xvi) 23 April 2021, The Swedish eHealth Agency will develop a service for issuing proof of vaccination to those who have been vaccinated against Covid-19; (vi) 15 July 2021, Limits on the number of people per square meter in shopping centers, gyms, museums, amusement parks, etc. have been removed. The advice to amusement parks concerning, for example, how to place groups for rides and attractions, has been removed. The size of groups with assigned seats at public gatherings or events, including football matches, has been increased from four people to eight people. This applies to both indoor and outdoor events; (vii) 12 August 2021, The government proposes that the COVID-19 law which enforces special restrictions to prevent the spread of the COVID-19 disease, and the law on temporary infection control measures in places of service be extended by four months from 1 October 2021 to 31 January 2022.