New microfinance scheme launched in Hong Kong
The Hong Kong Monetary Authority today (June 29) unveiled a microfinance scheme aimed at extending loans and ancillary support facilities to borrowers in Hong Kong. The scheme will be run by the Hong Kong Mortgage Corporation (HKMC) in collaboration with a number of banks and non-government organisations.
Loans will be offered in three categories: for business start-ups, for self-employed people and for people wanting to finance training or professional certification schemes. Interest rates are
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