1.Extension of the Program: Phase 2 of the Program, which began on 1 July 2020 and was originally set to run until 30 September 2020, has been extended until 31 December 2020.

2.Additional entity included in Program‘s implementation: To coordinate with the “Directions for Provision by Overseas Credit Guarantee Fund of COVID-19 Project Loan Guarantees,” banks that provide loans in accordance with the Directions will now be treated as eligible for benefits under the aforementioned Program in order to encourage banks to make use of the COVID-19 project loan guarantees to make loans to overseas firms operated by Taiwanese nationals and overseas compatriots.

3.Evaluations under Phase 1 of the Program covered the period from 1 March to 30 June of 2020, while evaluations under Phase 2 will run from 1 July to 31 December of 2020. Therefore, to ensure fairness, Phase 1 data are not being factored into Phase 2 evaluations.

As of 30 September 2020, domestic banks had accepted a total of 1,203,481 applications for relief loans (either doing so under various government programs, or undertaking relief lending on their own initiative), and the total approved amount was NT$2,295.2 billion. By the share of total applications, the approval ratio was 88%, and by loan amount the approval ratio was 95%, which shows that both businesses and individuals have a need for relief and stimulus loans. The FSC hopes to take advantage of the Program‘s extension to continue encouraging banks to provide stimulus and relief loans so that more funds can be directed toward businesses and individuals in need of assistance.