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Recycling Fund raises subsidy level under One-off Rental Support Scheme
     To help the recycling industry cope with the current economic situation and recent operational difficulties arising from the COVID-19 epidemic, the Recycling Fund (RF) has allocated additional funds of $50 million to raise the subsidy level under the One-off Rental Support Scheme (ORSS), earmarking a total funding of up to $250 million to fight the virus and help the recycling industry ride out the difficult times.
     A spokesman for the Environmental Protection Department said, "The Advisory Committee on Recycling Fund yesterday (April 15) agreed to strengthen support under the ORSS by increasing the rental assistance from 50 per cent to 75 per cent for the subsidy period from April to September this year. The maximum monthly rental subsidy for each recycler will be increased from $25,000 to $37,500, while the maximum total rental subsidy for the 12-month period will be increased correspondingly from $300,000 to $375,000."
     The ORSS, benefiting about 500 street-corner recycling shops and 400 recycling sites, was launched last year by the RF. In the face of the current economic difficulties and the impact of the epidemic, the RF announced in February this year an extension of the subsidy period from six months (i.e. from October 2019 to March this year) to 12 months (until September this year).
     As of April 9, the ORSS has approved 103 applications involving subsidies of over $20 million.
     The application deadline for the ORSS is September 30. For more information about the scheme, please visit the RF website (www.recyclingfund.hk) or contact the Secretariat at 2788 5658 or by email enquiry@recyclingfund.hk.
Ends/Thursday, April 16, 2020
Issued at HKT 11:00
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