Finland

17 March 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; (iii) No amount/estimate: 17 February 2021, FIN-FSA amended its regulations and guidelines related to the common reporting framework and EU Capital Requirements Regulation to reflect European Banking Authority (EBA) COVID-19 related guidelines.

20 March 2020, EUR4.5 billion in tax and pension payment deferrals.

20 March 2020, EUR900 million in lower pension contributions through the remainder of 2020. As of 1 May 2020, the amount increased to EUR1.05 billion.

20 March 2020, (i) EUR650 million for grants to SMEs and self-employed; (ii) EUR3 billion for expanded parental allowance, social assistance and unemployment insurance; (iv) No amount/estimate: 5 June 2020, 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; (iii) No amount/estimate: 11 June 2020, 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; (v) 3 September 2020, The government published a fifth supplementary budget proposal for 2020 which included EUR60 million basic income support for persons who have received basic social assistance during the period of restrictions, if they continue to continue to receive basic social assistance during the payment period in autumn 2020; (vi) No amount/estimate: 28 January 2021, The government decided to extend the right of entrepreneurs to claim labor market support until 30 June 2021; (vii) 25 February 2021, Additional EUR61 million for the central government’s share of the earnings-related component of the unemployment benefit and job alternation compensation, and for its share of the basic security component of the unemployment benefit; (viii) 21 April 2021, EUR63.86 million for grants to culture & art professionals; (ix) 7 May 2021, EUR1.2 million for services to promote the re-employment of about 500 former (redundant) staff of Finnair and related companies who lost their jobs; (x) 12 May 2021, The government proposes EUR48 million for the extension of labour market support for entrepreneurs until the end of September.

(i) 20 April 2020, EUR250 million grants for sole proprietors for the cost of running business; (ii) 6 May 2020, EUR40 million to support restaurants in employing workers and EUR83 million compensation for the imposed restrictions on activities; (iii) 1 July 2020, EUR4.5 million fund to develop tourism in regions (EUR4 million) and domestic campaign to promote domestic tourism (EUR0.5 million); (iv) 9 July 2020, EUR28.4 million compensation for maritime transport; (v) No amount/estimate: 15 October 2020, the Government has enabled the granting of business development aid in the form of so-called temporary state aid for a maximum of EUR 800,000 per company; (vi) 25 February 2021, (a) EUR23.2 million to support the operation of cargo and passenger vessel shipping companies; (b) addtional EUR5 million for film production companies; (vii) 17 March 2021, The EC has approved the State Aid of EUR249 million capital injection and EUR68 million damage compensation measure for Finavia, a major airport operator; (viii) 18 March 2021, EUR70 million of new compensation to companies for closure of customer premises; (ix) 21 April 2021, EUR63.86 million for culture and art institutions, theatres, museums, cinemas, art education providers, agencies, etc; EUR18.5 million to physical activity and sport clubs and organizations; and EUR85 million to the event production industry in the form of event guarantee; (x) 22 April 2021, EUR356 million for the third application round of business cost support and closure compensation. Business cost support is compensation for the company’s inflexible costs, but it does not compensate for a fall in turnover; (xi) 4 October 2021, EUR60 million from the the Recovery and Resilience Facility will be spent to support businesses in the cultural and creative sectors to develop innovative services and operating models as well as to the tourism and travel sectors.

(i) As of 23 December 2020, EUR209.3 million has been allocated to Finland 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.; 25 February 2021, (ii) additional EUR15 million for the operating costs of the Arts Promotion Centre; (iii) additional EUR17.6 million for the operating costs of courts, public legal aid and guardianship districts, the enforcement service and bankruptcy supervision, the Consumer Dispute Board, the National Prosecution Authority and the Criminal Sanctions Agency; (iv) additional EUR1.3 million to ensure that the municipal elections can be carried out safely; (v) additional EUR2.5 million for increasing and developing young people’s recreational and summer activities and to support summer entrepreneurship and working life skills among young people; (vi) additional EUR17.5 million for measures to support vocational education and training; (vii) additional EUR 17.5 million for the development of municipal healthcare and social service structures to better support children, young people and families; (viii) 4 OCtober 2021, With the EC's endorsement, Finland will be using the EUR2.1 billion grant from the Recovery and Resilience Facility of NextGenerationEU for measures to support green transition and digital transition and economic and social resilience. Of the total allocation for reforms and investments in Finland's recovery and resilience plan, 50% supports climate objectives, while 27% supports digital objectives. To reinforce Ireland's economic and social resilience, EUR90 million will be spent to boost employment, EUR260 million for Social and health care, and EUR60 million to support small and medium-sized enterprise among others.

(i) 20 March 2020, EUR12 billion in increase in fiscal deficit from automatic stabilizers (4-5.0) percentage points of GDP; (ii) 2 June 2020, EUR5.1 billion (which is part of the fourth supplementary budget of 6 June 2020 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; (iii) 27 August 2020, 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 Centers for Economic Development, Transport and the Environment (Ely Centers). 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; (iv) 22 October 2020, Regions to receive over EUR100 million for coronavirus recovery efforts in projects related to: development of the operating environment, business development, RDI activities, preservation and creation of jobs, prevention of youth unemployment and labor market mismatch, and development of skills; (v) As of 23 December 2020, EUR135 million has been allocated to Finland 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.

(i) 6 May 2021, The EC proposes to support 500 former workers of Finnair in Finland, who lost their jobs due to the impact of the COVID-19 crisis. EUR1.8 million for Finnair will be provided from the European Globalization Adjustment Fund; (ii) As of 23 December 2020, EUR209.3 million has been allocated to Finland for the European Agricultural Fund for Rural Development (EAFRD) under NexGenerationEU; (ii) As of 23 December 2020, EUR135 million has been allocated to Finland under REACT_EU (Recovery Assistance for Cohesion and the Territories of Europe) of NextGenerationEU; (iii) 4 October 2021, EUR2.1 billion in grants under the Recovery and Resilience Facility to support Finland's recovery and resilience plan. Finland’s plan will accelerate the digital transformation, research and investment in the green transition, and promote employment and skills improvement as well as improve rapid access to health care and social services across the country; (iv) No amount/ estimate: 29 October 2021, Finland will send six ventilators to Latvia to be delivered through the European Union Civil Protection Mechanism [update].