Social protection and humanitarian cash responses to the COVID-19 pandemic have emerged globally within the last few months, with more responses to come as the early phases of lockdowns have in many places been replaced with the beginnings of L-shaped recessions and on-going extreme economic hardship for tens of millions globally. The emphasis of this note is mainly on what is new with respect to VfM for social protection in the COVID-19 context. As such, this note assumes some familiarity with value for money concepts as they relate to social protection and cash.