Taiwan will offer another T$100 billion ($3.60 billion) in loans to help small- and medium-sized firms hit by the COVID-19 pandemic, the government said on Thursday, while sources said almost $20 billion may be made available.
Taiwan is considering boosting a loan facility to help small and medium sized firms hit by the COVID-19 pandemic, and may extend it to individuals, with almost $20 billion available, sources briefed on the matter told Reuters.
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TAIPEI, May 27 (Reuters) - Taiwan is considering boosting a loan facility to help small- and medium-sized firms hit by the COVID-19 pandemic, and may extend it to individuals, with almost $20 billion available, sources briefed on the matter told Reuters.
Taiwan’s central bank last year made T$300 billion ($11 billion) available to help small to medium-sized enterprises (SMEs) cope with the impact of COVID-19, which is now surging in parts of Taiwan after months of being well under control.
The central bank typically provides the money to commercial banks at a low interest rate which they can disperse to companies which apply for support.
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TAIPEI, May 17 (Reuters) - Taiwan stocks closed 3% lower on Monday even as the premier sought to reassure that the island’s economic fundamentals were good, with demand for export orders strong and production activities normal.
A sudden surge in domestic COVID-19 infections, more than 700 over the past week, and Saturday’s raising of restrictions in the capital Taipei, have spooked a population that had become used to life carrying on almost as normal with the pandemic previously well under control.
The government has repeatedly tried to reassure people that the economy remains strong and there is no undue cause for alarm, even amid volatility and sharp falls in the stock market.
Taiwan's economic prospects are bright and growth this year will come in as expected so long as the COVID-19 situation can be quickly brought under control, the government said on Sunday, pointing to limited impact from a recent spike in cases.