Regarding the 100% Financing Guarantee Scheme for SMEs in the Budget, DAB Legislative Councillor Holden Chow learnt from the Commerce and Economic Development Bureau that the scheme will come into effect approximately one month after the Budget is passed.
The government is still holding discussions with banks participating in the scheme regarding the exact arrangements. He urged the government to speed up the process and announce the list of banks participating in the scheme as soon as possible to allow SMEs in need to make preparations.
A total of 31 banks are participating in the scheme but the list of banks willing to participate in the 100% Financing Guarantee Scheme has yet to be announced.
Media Inquiries: Legislative Councilor Holden Chow 3703 9870