Preferential loans to be offered to those affected by coronavirus

08 April, 2020

Courtesy of ICRT


Taiwan’s government will soon be offering preferential short-term loans to individuals who have suffered losses of income due to the coronavirus pandemic.


According to Labour Minister Hsu Ming-chun, low-interest loans of up to NT$100,000 will be extended to a maximum of 500,000 applicants and the loans will be repayable over a three-year period.


The first will be interest free and the rate on the second and third years will be set at 1.845%.


The minister says further details of the loans will be announced within two weeks after lawmakers pass a cabinet-proposed NT$150-billion special budget as part of a coronavirus relief package.


The government has said NT$30 billion of the package will be allocated for subsidies to 1.33 million self-employed people who usually make less than NT$24,000 a month.


Government units will also be asked to create 70,000 short-term part-time employment opportunities for people in need and those jobs will last up to up six months with a monthly salary of NT$23,800.

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