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Financial Sector Response

Guidance Notes on the COVID-19 Outbreak

The speed and scale of the global COVID-19 health pandemic and its impact on employment has been unprecedented. Governments around the world are taking action to mitigate the negative impact of the health crisis on firms and people and to maintain a foundation for rapid economic recovery once the health crisis is resolved.

Emerging markets and developing countries, some of which were prone to financial market volatility before the coronavirus pandemic, are especially exposed. This page outlines policy guidance for ways to mitigate risks to financial markets and maintain liquidity to support economic recovery once the health crisis is resolved.

Maps & Data


©INSOL International/World Bank Group

Global Guide: Measures adopted to support distressed businesses through the COVID-19 crisis (updated May 17, 2021)

Annex II Compendium of responses for the provision of payment services during the COVID-19 crisis

Financial Policy Response Compendium during COVID-19 crisis
This compendium captures the global financial sector policy response to the covid-19 crisis in over 150 countries - with a focus on emerging market and developing economies -. It covers publicly announced measures related to the banking sector, capital markets and non-bank financial institutions, monetary and liquidity conditions, payment systems and insolvency. 


In Depth

FIRST Initiative

The Financial Sector Reform and Strengthening Initiative is a multi-donor grant facility that provides technical assistance to promote sounder, more efficient, and inclusive financial systems.

Global Index Insurance Facility (GIIF)

A multi-donor trust fund supporting the development and growth of local markets for weather and disaster index insurance in developing countries.

Financial Sector Advisory Center (FinSAC)

A collaboration between the World Bank Group and Austria, FinSAC delivers policy and technical advice, and analytical services to countries in emerging Europe and Central Asia.

Additional Resources