Anti-epidemic fund committee meets

April 20, 2020

Chief Secretary Matthew Cheung today chaired the fourth meeting of the Anti-epidemic Fund Steering Committee, during which the funding commitment for 33 measures under the second-round of the fund was approved.

 

The Legislative Council Finance Committee last Saturday approved a funding application of $137.5 billion, including an injection of $120.5 billion to the Anti-epidemic Fund to roll out the second round of measures to provide further assistance or relief to the public and enterprises hard hit by the current epidemic or affected by anti-epidemic measures.

 

Mr Cheung said: "The pandemic has caused an unprecedented impact on Hong Kong's economy and various sectors have been hard hit.

 

“The Government will take resolute and unprecedented measures to expeditiously relieve the imminent needs of the businesses and members of the public.

 

"To provide assistance and relief to relevant enterprises and members of the public as soon as possible, I have asked the bureaus and departments to implement the measures at full steam to address the pressing needs of the community promptly and achieve the effect of safeguarding jobs and supporting enterprises."

 

Separately, the Education Bureau said the Finance Committee’s approval of the funding application for the second round of the fund and other relief measures included a one-off interest-free deferral of loan repayment for two years to self-financing post-secondary institutions under the Start-up Loan Scheme, non-profit-making international schools and student loan repayers.

 

All borrowers of the Tertiary Student Finance Scheme - Publicly-funded Programmes, Financial Assistance Scheme for Post-secondary Students, Non-means-tested Loan Scheme for Full-time Tertiary Students, Non-means-tested Loan Scheme for Post-secondary Students and Extended Non-means-tested Loan Scheme will be offered an interest-free deferral of loan repayment from April 1 this year to March 31, 2022, including their loan instalments and interests.

 

The annual administrative fee of $180 charged on the non-means-tested loan repayers during the suspension period will be waived. The risk-adjusted-factor rate for setting the interest rate will also be maintained at zero.

 

Additionally, support for the construction sector will be enhanced.

 

The Development Bureau today said a one-off subsidy of $7,500 will be offered to each eligible construction worker.

 

More than 530,000 workers will benefit from the subsidy, including workers of construction sites as well as those registered under the Electrical & Mechanical Services Department, the Buildings Department, the Water Supplies Department and the Fire Services Department.

 

At the same time, a one-off subsidy will be provided to 30,000 construction-related enterprises, generally small-scaled, which cannot benefit from the first round of the Anti-epidemic Fund.

 

Each eligible contractor, specialist contractor, works contractor and supplier can receive a one-off subsidy of $20,000, while minor works contractors, registered contractors of electrical, gas, lift, escalator and fire service installation along with suppliers of construction-related machinery and equipment rental can receive $10,000 each.

 

About 600 consultant firms offering engineering, architectural and related professional services will receive a subsidy of $50,000 each to support professionals in the sector.

 

The Government will also provide a direct subsidy of $3 million to each non-profit-making organisation running the 10 projects under the Revitalising Historic Buildings Through Partnership Scheme, PMQ and the Energizing Kowloon East - Fly the Flyover Operation.

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