31 March 2020 – Progress on Alaska COVID-19 Economic Stabilization Plan

Type of Intervention: Financial and Economic
Sectors Involved: Central Bank, Finance/Economy, Private Sector and Businesses, Social Services, Supply Chains
Level of Jurisdiction: AK
Lead People/Agency: Governor Mike Dunleavy (decision maker) & Alaska Industrial Development and Export Authority

Overview: The Sustaining Alaska’s Future Economy Guaranty Program (SAFE) creates a billion dollar loan guaranty program backed by the state through the Alaska Industrial Development and Export Authority (AIDEA). Alaskan businesses with existing lines of credit through any lending institution in Alaska will be able to apply for a loan increase of up to $1 million dollars.
Full details here: http://www.aidea.org/Portals/0/PressReleases/033120AIDEACreates1BProgramConfrontCOVID19EconomicCrisis.pdf

Other links: 1
Type of Justification: Advice of INTERNAL government advisory committee or group, Learning from other jurisdictions, Perception of an increased threat
Source of Evidence or Justification: AIDEA, Office of the Governor
Evidence/Justification: “As I previously announced, the state of Alaska will back loans to businesses of all sizes in order to keep our great Alaskan workers employed.” – Governor Mike Dunleavy