World Rugby will loan Rugby Australia up to an estimated $16 million to get through the coronavirus shutdown, but only after the organisation has thrashed out an emergency pay deal with the players union.

Details of the loan program were announced on Thursday night, with World Rugby confirming a pool of $160 million, in the form of cash advances and loans, would be made available to Six Nations and SANZAAR unions, with emerging nations also encouraged to apply.

World Rugby's loan program is expected to buy Rugby Australia some much-needed time to ride out the coronavirus shutdown. Credit:Getty Images

Handouts will be capped at a certain amount, believed to be in the ballpark of $16 million in the first phase.

Combined with RA's internal cost-cutting, Super Rugby stand downs and an expected six-month pay deal with the players, it is expected to help RA bridge the gap between Super Rugby's March shut down and the resumption of Test or provincial rugby. RA and the other major professional codes will also look to federal and state governments for help, with a recognition a sport-wide relief package is still some months off.