Vanuatu

No amount/estimate: (i) 27 March 2020, The Reserve Bank of Vanuatu (RBV) cut its policy rate from 2.9% to 2.25%

(i) 23 July 2020, the RBV reduced commercial banks’ Capital Adequacy Ratio (CAR) from 12.0% to 10.0%.

(i) Deferred and cancelled taxes, license fees and charges for businesses in 2020. Backdating to start of 2020 some reductions resulting from forthcoming business license reforms.

(i) Lights and cover arrival and short-term quarantine costs in Port Vila of repatriated ni-Vanuatu before they return to their homes elsewhere in Vanuatu; (ii) Secondary school tuition fees are suspended for 2020.

(i) the Employment Stabilization Payment (reimbursing employers up to VUV30,000 per employee per month for 4 months; plus an additional 12% to the employer, with payments totalling VUV2.5 billion, which is already reflected in the VUV4.4 billion amount); (ii) Small and medium enterprises (SME) with turnover of less than VUV200 million will also receive the value of their business license fees (around VUV400 million in total); price-based subsidies if needed to support producers of copra, kava, cocoa and other commodities; (iii) No amount/estimate: Support to the transport sector to facilitate farmers’ access to major market centres such as Port Vila and Luganville.

(i) 31 March 2020, A first-stage fiscal package worth VUV4.4 billion (roughly 4.2% of GDP) was announced. It includes the measures as disaggregated above, with no complete breakdown on amount per measure. Amounts are presented when available.

(i) 15 April 2020, USD0.02 million announced by the ADB as part of the Strengthening Social Protection in the Pacific program. On 24 July 2020, additional USD0.04 million co-financing under the same program; (ii) 24 April 2020, USD0.13 million allocated by the ADB as additional funding to Vanuatu under the Regional Project on Developing the Pacific Health Sector; (iii) 5 June 2020, USD0.14 million in financing under the Pacific Economic Management, Phase 3 project; (iv) 19 July 2020, USD0.9 million allocation under TA9950-REG: Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases; (v) 24 July 2020, USD0.21 million under the regional project, Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3); (vi) 29 July 2020, USD1.5 million funding under the COVID-19 Emergency Response; (vii) 10 August 2020, USD0.35 million under the regional project, Knowledge and Support Technical Assistance for Strengthening Water, Sanitation, and Hygiene Practices and Hygiene Behavioral Change in the Pacific; (viii) 12 August 2020, USD0.11 million under the regional project, Support for Gender Sensitive Responses to COVID-19 in the Pacific Developing Member Countries.

No amount/estimate: (i) With help from Australia, The PRC, New Zealand, UNICEF, WHO, other NGOs/CSOs and some local businesses, Vanuatu is expanding health facilities, restocking personal protective equipment and supplies, and further training healthcare workers, especially in Port Vila; and spending on community education and awareness; (ii) With the assistance of Australia, France and New Zealand, COVID-19 tests are analyzed in the French special collectivity of New Caledonia as needed; (iii) 27 April 2020, The World Bank has delivered USD10 million (VUV1.2 billion) in emergency funding to Vanuatu to support the country’s response to the combined impacts of the global COVID-19 (coronavirus) pandemic and Tropical Cyclone Harold; (iv) 14 May 2020, USD0.3 million in support from the United Nations Development Group from the UN COVID-19 Response & Recover fund; (iv) 20 May 2020, AUD13 million in quick financial support from Australia to support Pacific countries hit by both the recent cyclone and pandemic.