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Government welcomes special arrangement to assist local enterprises affected by Japan quake
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     The Government today (May 30) welcomed the introduction of a special arrangement by the Hong Kong Mortgage Corporation Limited (HKMC) under its SME Financing Guarantee Scheme (SFGS), which aims to help local enterprises adversely impacted by the earthquake in Japan.

     A Government spokesman said, "Since the Japan earthquake, we have been in touch with various industry and trade organisations to assess the impact of the Japan crisis on businesses in Hong Kong.  There have been calls for short-term relief measures to help local enterprises adversely affected by the crisis to tide over this difficult period."

     Pursuant to discussions between the Commerce and Economic Development Bureau, the Trade and Industry Department and the HKMC on the appropriate means to respond to these calls, the HKMC announced today the introduction of a special arrangement which provides a waiver of three months' guarantee fee for loans under the SFGS with tenor of three years or less, and a waiver of six months' guarantee fee for loans with tenor of more than three years.  

     "We believe this measure will provide timely relief for local enterprises adversely affected by the Japan crisis," the spokesman added.

Ends/Monday, May 30, 2011
Issued at HKT 17:08

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