ADB: The Asian Development Bank (ADB) announced 6.5 billion initial package to address the immediate needs of its developing member countries (DMCs) includes $3.6 billion in sovereign operations for a range of responses to the health and economic consequences of the pandemic, and $1.6 billion in non-sovereign operations for micro, small, and medium-sized enterprises, domestic and regional trade, and firms directly impacted. ADB will also mobilize about $1 billion in concessional resources through reallocations from ongoing projects and assessing possible needs for contingencies. ADB will make available $40 million in technical assistance and quick-disbursing grants.
AFDB: has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including Socially Responsible Investors, with bids exceeding $4.6 billion. This is the largest Social Bond ever launched in international capital markets to date, and the largest US Dollar benchmark ever issued by the Bank. It will pay an interest rate of 0.75%. AFDB is moving to provide flexible responses aimed at lessening the severe economic and social impact of this pandemic on its regional member countries and Africa’s private sector.
EBRD: To respond in solidarity with its shareholders, countries of operations, partners and clients, EBRD has unveiled an emergency €1 billion “Solidarity Package” to establish a resilience framework comprising €1 billion of new and additional funding for existing clients, comprising emergency liquidity, working capital and trade finance.
IDB: The IDB has up to $12 billion in resources that can be programmed to countries requesting support for disease monitoring, testing and public health services. The Bank can also work with countries that have undisbursed loan balances to redirect resources to pandemic-response efforts.
ISDB: IsDB Group is setting-up a special ‘Strategic Preparedness and Response Facility’ of US$730 million[v] to mitigate the negative health and socio-economic impact of the COVID -19 pandemic. This will include US$280 million from the Bank and Islamic Solidarity Fund for Development for sovereign projects and programs, US$300 million from International Islamic Trade finance Corporation (ITFC) for trade finance and US$150 million from ICIEC for insurance coverage.
WBG: The World Bank and IFC’s Boards of Directors approved an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. Within this package, IFC has announced a $6 billion intervention which includes $2 billion to expand trade financing for SMEs in emerging markets; $2 billion to expand working capital finance available through IFC client banks; and $2 billion in direct financing for companies in the healthcare sector or other sectors with COVID-19-related financing needs. Example of program being developed in Vietnam: The proposed program in Vietnam aims at supporting the most affected sectors through the combination of targeted tax and financial measures as well as assistance to the most vulnerable firms and employees. The program aims to stimulate aggregate demand, through accelerating disbursement of the public investment program. Encouraging priority reforms in the development of a digital economy (i.e. encouraging e-payments, e-commerce, and tech adoption) and addressing supply chain disruptions, and the further integration in global value chains by meeting the diversification needs by multinationals seeking alternative sources.