Hong Kong to launch new microfinance pilot scheme

Hong Kong

The Hong Kong Mortgage Corporation (HKMC) on February 2 said it plans to launch a new microfinance pilot scheme in an attempt to boost lending to individuals and start-up businesses in Hong Kong.

The HKMC said it hoped to launch the pilot scheme in mid-2012, with the trial lasting three years. The organisation said it still needs the formal approval from its 18-member board of directors before it can start the pilot, although this is thought to be merely a formality at this stage. The board is

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