Taiwan seals $15.2 billion fresh funding to cushion COVID-19 impact

31.05.2021 - Korneychuk Evgeniya
Taiwan seals $15.2 billion fresh funding to cushion COVID-19 impact

A total of T$420 billion ($15.20 billion) in fresh stimulus spending was approved by Taiwan’s parliament on Monday in a bid to lift the country’s economy after the COVID-19 pandemic drag.

A surge in coronavirus cases has prompted Taiwan to reinstate restrictions, limiting personal gatherings and shutting entertainment venues while it tries to accelerate its inoculation programs.

The freshly approved stimulus spending is on top of the previously announced stimulus spending worth T$420 billion, and the funding will run until June 30, 2022.

The central bank of Taiwan is also running a separate T$400 billion scheme to provide preferential loans to small and medium-sized businesses.

Taiwan’s stock market has largely shrugged off concerns about the coronavirus impact, with the benchmark index 1.2% higher during early afternoon trade.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?