Pacific

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 4.20
% of GDP (2019): 10.66%
% of Regional Total Package: 0.16%
Package Per Capita in USD: 360.38
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 reductions
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 AUD6,289,000 USD4,196,996
05A - Health support AUD5,600,000 USD3,737,188

The government has announced AUD5.6 million supplementary budget for the Ministry of Health, which will be used for (a) specialized medical equipment, (b) enhanced laboratory capabilities, (c) upgrading of health facilities, and (d) increased surveillance measures to address the coronavirus threat.

05B - Income support
05B1 - Tax and contribution deferrals and policy changes
05B2 - Tax and contribution rates reduction
05B3 - Wage support and subsidies to individuals and households
05B4 - Subsidies to business
05B5 - Indirect income support
05B6 - No breakdown (income support)
05C - No breakdown (health and income support) AUD689,000 USD459,808

(i) The government has approved AUD189,000 in supplementary appropriation as a Coronavirus contingency fund; (ii) 4 September 2020, AUD300,000 was allocated under the Ministry of Finance for a grant to assist the private sector in response to the effects of the COVID-19. This grant is provided to the Development Bank of Tuvalu; (iii) 4 September 2020, AUD200,000 was allocated under the Ministry of Finance and approved under the Supplementary Appropriation Fund in order to finance other relevant COVID-19 measures across the Government.

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending & reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received AUD15,247,357 USD10,175,400
08A - Swaps info_outline
08B - International loans/grants AUD15,247,357 USD10,175,400
08B1 - Asian Development Bank AUD8,706,011 USD5,810,000

(i) 31 March 2020, Asia Pacific Disaster Response Fund and Technical Assistance (COVID-19 Emergency Response) - USD0.37 million. On 29 July 2020, an additional USD0.63 million was made available; (ii) Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases - USD0.21 million; (iii) 15 April 2020, Strengthening Social Protection in the Pacific - USD0.06 million; (iv) 24 April 2020, Country Share in Additional Financing to Develop the Pacific Health Sector - USD0.13 million; (v) 5 June 2020, Pacific Economic Management, Phase 3 - USD0.14 million; (vi) 24 June 2020, Supporting Public Sector Management Reforms - USD0.06 million; (vii) 10 August 2020, Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific - USD0.1 million; (viii) 12 August 2020, Support for Gender-positive Responses to COVID-19 in the Pacific Developing Member Countries - USD0.11 million; (ix) 10 December 2020, Pacific Disaster Reliance Program, Phase 3 - USD4 million. [update]

08B2 - Other AUD6,541,346 USD4,365,400

(i) 20 May 2020, AUD3 million in grants from the Australian government; (ii) USD2.5 million from the World Bank to support urgent needs created by the COVID-19 crisis.

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

(i) Tuvalu has established a COVID-19 National Taskforce that will act as an Advisory body to Cabinet and provide updates on a regular basis; (ii) Quarantine and self-isolation measures; (iii) The State of Public Health Emergency, which was first declared on March 20, 2020, was extended for another 6 months on March 26, 2020.