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Recycling Fund disburses over $90 million anti-epidemic and rental support subsidies to recyclers
     The One-off Recycling Industry Anti-epidemic Scheme (ORIAS) and the One-off Rental Support Scheme (ORSS) under the Recycling Fund (RF) are open for applications and continue to disburse subsidies to help the recycling industry cope with the current operational difficulties.

     As of today (May 25), the RF has approved over 410 applications for the ORIAS, which involve subsidies of about $50 million. Over 170 applications for the ORSS involving subsidies of about $42 million have also been approved.

     The RF has allocated $100 million to launch the ORIAS with the aim of providing timely financial support to help with recyclers' operational costs for six months. The funding limit for each recycler is $20,000 per month from January 1 to June 30, 2020, for a total maximum subsidy of $120,000.

     The ORSS, with a total funding of $250 million, originally ran from October 2019 to March this year to provide rental concessions of 50 per cent to the trade. The rental concession period was subsequently extended for another six months to September this year, with the rental subsidies increased from 50 per cent to 75 per cent, setting the maximum total rental subsidy for the 12-month period at $375,000.

     The application deadline for the ORIAS is June 30, 2020, while that of the ORSS is September 30, 2020. For more information about the two schemes, please visit the RF website (www.recyclingfund.hk) or contact the Secretariat at 2788 5658 or by email enquiry@recyclingfund.hk.
Ends/Monday, May 25, 2020
Issued at HKT 11:01
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