Pacific

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 21.96
% of GDP (2019): 11.34%
% of Regional Total Package: 0.49%
Package Per Capita in USD: 186.69
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
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline
02B1 - Interest rate adjustments
02B2 - Other policies to support long-term lending
02C - Loan guarantees
03 - Direct long-term lending info_outline
03A - Long-term lending info_outline
03B - Forbearance
04 - Equity support info_outline
05 - Health and income support AUD32,900,000 USD21,955,980
05A - Health support
05B - Income support
05B1 - Tax and contribution deferrals and policy changes
05B2 - Tax and contribution rates reduction
05B3 - Subsidies to individuals and households
05B4 - Subsidies to businesses
05B5 - Indirect income support
05B6 - No breakdown (income support)
05C - No breakdown (health and income support) AUD32,900,000 USD21,955,980

June 2020, The Government of Kiribati mobilized its COVID-19 preparedness and response plan, valued at AUD32.9 million. The bulk of the funding will be for social and financial support (37.2%), health preparedness (36.2%), food security (12.4%), and education (9.2%). The remaining funds will support transportation, public awareness campaign, and small infrastructure works to refurbish isolation centers. Grants and subsidies are expected to be provided to businesses as well as state-owned enterprises to continue basic support services to the public. There will also be grants for unemployed I-Kiribati impacted by COVID-19, including seafarers, fisheries observers, fruit pickers, and casual workers in the construction and tourism industries.

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending and reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received AUD21,502,798 USD14,350,000
08A - Swaps info_outline
08B - International loans/grants AUD21,502,798 USD14,350,000
08B1 - Asian Development Bank AUD17,307,130 USD11,550,000

(i) 15 April 2020, USD0.02 million under the Strengthening Social Protection in the Pacific project; (ii) 24 April 2020, USD0.13 million under the Developing the Pacific Health Sector (Additional Financing); (iii) 30 April 2020, USD0.71 million is the estimated support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases. As of 8 October 2021, the estimated support increased to USD0.95 million [update]; (iv) 5 June 2020, USD0.14 million under the Pacific Economic Management, Phase 3 (Additional Financing); (v) 24 June 2020, USD0.09 million under the Supporting Public Sector Management Reforms; (vi) 24 July 2020, USD0.4 million under the Strengthening Social Protection in the Pacific (Additional financing); (vii) 29 July 2020, USD1.5 million under the COVID-19 Emergency Response from the Asia Pacific Disaster Response Fund-Government of Japan; (viii) 10 August 2020, USD0.10 million under the Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (ix) 12 August 2020, USD0.06 million under the Support for gender sensitive responses to COVID-19 in the Pacific Developing Member Countries; (x) 16 December 2020, USD8 million under the Pacific Disaster Resilience Program (Phase 3); (xi) 17 December 2020, USD0.13 million under the Supporting Recovery by Micro, Small and Medium-sized Enterprises in the Pacific from the Effects of the COVID-19 Pandemic; (xii) 15 July 2021, USD0.09 million as additional financing to Supporting Public Sector Management Reforms. As of 25 September 2021, the financing decreased to USD0.03 million.

08B2 - Other AUD4,195,668 USD2,800,000

(i) May 2020, USD0.3 million under the United Nations (UN) COVID-19 Response and Recovery Multi-Partner Trust Fund (COVID-19 MPTF); (ii) 26 June 2020, The World Bank approved USD2.5 million funding to build capacity for essential service delivery to prepare Kiribati for COVID-19 and other future public health threats.

09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures
12 - Non-Economic Measures
12A - Measures affecting travel and transport (local and international)

(i) January 2020, Travel restrictions have been in place; (ii) 21 March 2020, Borders have been closed except for delivery of essential goods (quarantine requirements apply at all ports).

12B - Measures affecting business and workplace
12C - Others

(i) 17 March 2020, A press release to prevent speculations and panic was released and government task forces have been formed to address commodities and cargo buffers, communication and awareness, isolation centers and containment efforts, and border control; (ii) 28 March 2020, A state of public emergency has been declared and schools are suspended.