COVID-19 Financial Assistance

As a result of the COVID-19 pandemic, government revenues have decreased and are expected to be much lower than the approved budget for 2020. Since the budget deficit may be higher than the approved amount, financial requirements are consequently increased. To meet these requirements, International Financial Institutions and Bilateral Partners have provided foreign aid. The details are listed below. (Note: This section will be updated on a weekly basis)

Financing Received for COVID-19 from Foreign Donors

Table 1: by Financial Institutions

Data as at: 13 June 2020

Donor Amount in millions of USD Type Details
World Bank 10 50% Grant - 50% Loan Catastrophe Deferred Drawdown Option, triggered, and received USD 10 million. This will be utilized for budget support.
12.8 50% Grant - 50% Loan COVID-19 Emergency Income Support Project has been signed. Objectives is to provide temporary assistance to workers affected by the Pandemic, and strengthening the social protection delivery systems and institutions
7.3 50% Grant - 50% Loan COVID-19 Emergency Response and Health Systems Preparedness Project signed and effective. Disbursements ongoing, and this will be utilized for the immediate response of the Pandemic.
0.95 100% Grant WB's Pandemic Financing Facility (PEF) received to acquire diagnostic tests, medical and laboratory supplies and equipment.
Asian Development Bank (ADB) 1.3 Technical assistance and Grant ADB's Asia Pacific Disaster Response Fund provided USD 500,000 with an additional Technical assistance of USD 798,000 for Initial emergency response. This will be utilized for immediate response of the Pandemic.
Islamic Development Bank 15.05 Grant and Loan ITFC provided USD 15 million as loan and USD 0.05 million as grant to STO for the procurement of medicines, food and medical equipment to combat the Pandemic.
0.59 Loan IsDB has provided emergency financing by diverting funds from the completed Harbor Istisna’a Project for the for provision of equipment and devices in ICU of a regional hospital and related costs.
International Monetary Fund 28.9 Interest Free Loan IMF provided a Rapid Credit Facility to support the country's balance of payment.
OPEC Fund for International Development 20 Loan OFID has provided a budget sippor loan for the GOM's Public Sector Investment Program.
Total 96.9 million

Table 2: by Bilateral Partners and UN Agencies

Data as at: 13 June 2020

Donor Amount (in USD unless stated otherwise)/Type Details
India In Kind Evacuation of students in Wuhan, China (with help of Indian Government)
Medical Team
PPE and Medicines
Food Aid
Japan In Kind PPE and Medicines
Grant: Emergency Grant to UNICEF and Red Crescent for procurement of medical equipment/consumables, technical assistance and education sector.
UNICEF: 356,400
Red Crescent: 185,000
UNDP: 1.4 million UNDP Grant to support SME's affected by COVID-19
USD 5.6 million Grant to promote economic and social development of the country
USA In Kind PPE and Medicines
Grant Economic Recovery Support
China In Kind PPE, Diagnostic equipment, care beds and ventilators
UNICEF In Kind E-learning support for AV classrooms
Technical Support Technical Assistance in preparing SOPs for emergency response for Education sector
European Union Grant Assistance to Health and Tourism sector
Bangladesh In Kind Medical Team
PPE, Medicines and Commodities
Canada Project Support CAD 100,000 (approx. MVR 1 million) Provide immediate basic needs and build capacity to support those who may be impacted by the pandemic
United Arab Emirates In Kind PPE, Diagnostic equipment

Note: In Kind refers to non-cash assistance.

Individuals & Households

Business Enterprises

Government Finances

Share this article