All 21 members of the Asia-Pacific Economic Cooperation (APEC) have responded to the ongoing coronavirus disease 2019 (COVID-19) pandemic by offering fiscal support to small and medium enterprises (SMEs).
As stated by Antara News Agency on Wednesday (08/4) within the APEC region, 16 economies have made announcements specifying the form of support to be extended to SMEs.
The support to SMEs entail lending or financing facilities catering exclusively to SMEs, providing low-interest loans as well as introducing loan guarantees and loan payment moratoriums, implementing moratoriums on rental and utilities payments, providing temporary wage subsidies, usually covering up to three months of wages, as well as implementing tax deferrals and tax refunds//Ant