Other ADB Members

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 69,912
% of GDP (2019): 13.71%
% of Regional Total Package: N/A
Package Per Capita in USD: 6,120.74
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline
01C - Forex operations info_outline
02 - Credit creation info_outline EUR53,000,000,000 USD58,628,318,584
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline EUR1,000,000,000 USD1,106,194,690

The National Bank of Belgium announced the decision to reduce the counter-cyclical buffer to zero, releasing approximately EUR1 billion worth of capital available to Belgian banks to expand lending.

02C - Loan guarantees EUR52,000,000,000 USD57,522,123,894

(i) EUR50 billion (over 11% of GDP) of guarantees for new bank loans to companies and self-employed; (ii) Regional governments announced further bank-loan guarantees (around EUR2 billion, or 0.4% of GDP); (iii) No amount/estimate: A Reinsurance scheme for short-term trade credit insurance and other socio-economic measures further support these efforts.

03 - Direct long-term lending info_outline
03A - Long-term lending info_outline
03B - Forbearance

No amount/estimate: Postponement of debt repayment due to banks and insurers by affected households and companies to September 30, 2020.

04 - Equity support info_outline
05 - Government support to income/revenue EUR10,200,000,000 USD11,283,185,841

(i) EUR6.4 billion in total measures as part of the fiscal package outlined in the Stability Program to adress the crises. Key fiscal support measures include: boosting health expenditure and increasing support for those in temporary unemployment and self-employed; (ii) EUR3.8 billion (increased from EUR1.7 billion) regional governments' support to affected firms and sectors, and transfers to affected households.

05A - Health EUR1,200,000,000 USD1,327,433,628

Of the total packages, around EUR1.2 billion are dedicated to health initiatives, with EUR1 billion for federal intiatives and EUR0.2 billion for regional.

05B - Non-health EUR9,000,000,000 USD9,955,752,212

(i) On the other hand, non-health initiatives total EUR9 billion, with EUR5.3 billion for federal and EUR3.7 billion for regional; (ii) In addition, reduced the VAT rate applicable to some restaurant and catering services to 6% until the end of 2020; (iii) June 9, Support measures relating to payment periods have been approved, and extension of the payment periods for VAT and Excessive Duties extend to December 31. [update]

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending & reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received
08A - Swaps info_outline
08B - International loans/grants
08B1 - Asian Development Bank
08B2 - Other
09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures

(i) March 30, Belgian Debt Agency issued a new syndicated EURO benchmark bond maturing October 22nd, 2027 (OLO 91) in the near future and increased the number of OLO auctions by also organizing auctions on the penultimate Monday of May, August and October; (ii) March 30, Belgian Debt Agency stops buying back OLOs maturing in 2022; (iii) April 8, The Federal Debt Agency announces that it has accepted the offers for the auction of Treasury certificates of today for a total amount of EUR 2.280 billion; (iv) Ban on short-selling stocks until May 17; (v) May 12, the Financial Services and Markets Authority agreed to not take action against companies that will not be able to comply with mandatory data provision on code of conduct risk models by June 30, 2020; (vi) May 18: Suspended the ban on short selling; (vii) June 2: Extended the agreement on taxation of cross-border workers with Germany and Netherlands until June 30, 2020.

12 - Non-Economic Measures

(i) The minority government—which has been granted enhanced executive powers—has implemented a range of measures to reduce the spread of the coronavirus, including school and retail shop closures, a ban on all gatherings, limiting movement to essential needs, ban of non-essential travel abroad; (ii) The government has announced a phased conditional on health outcomes. On this basis, manufacturing and business services sectors were reopened on May 4, to be followed by shops (May 11 and May 18). Schools will also start to gradually reopen from May 18. The reopening of other sectors and overseas travel will be assessed by June 8, while sporting events remain banned until July 31; (iii) June 11, Hospitality, cultural, and non-contact sports activities (without audience) as well as religious services were allowed to resume as of June 8. Domestic travel restrictions have been lifted; [update] (iv) June 18, travel restrictions within the Schengen area have also been lifted. [update]