Lord Mayor Sally Capp said the package includes $20 million in targeted support for CBD businesses.
"I would like to thank Premier Daniel Andrews, Treasurer Tim Pallas and Minister Martin Pakula for providing this critical support and recognising the importance of our city economy to Victoria."
"This is an example of the State Government working together with the City of Melbourne, the Victorian Chamber of Commerce and Industry the Australian Hotels Association to benefit city businesses and workers."
"Our central city is facing unique challenges from the COVID-19 restrictions. Pedestrian activity is down 81 per cent on this time last year," the Lord Mayor said.
"This means up to 800,000 people each day are adhering to restrictions and not coming into the central city. This is devastating for our businesses, but necessary to keep our community safe.
"Melbourne's economy is built on people getting together – whether it's for dinner, catching a show, or watching sport or live music.
"We are a 24-hour international city and our night-time economy typically generates more than $3.5 billion a year, creating jobs and boosting our economy."
"We can't afford to lose our world-class food, café and retail culture that's been built up over the last 30 years. If you can, please continue to support your favourite city restaurants, cafes and shops through takeaway orders and online shopping."
The Lord Mayor encouraged businesses to contact the City of Melbourne's Business Concierge Hotline on 9658 9658 to get advice on how to access the support announced today.