China News Service, Macau, August 4 (Reporter Long Tuyou) The Legislative Council of the Macao Special Administrative Region held a plenary meeting on the afternoon of the 4th to review the bill "Amendment to the Government of the Macao Special Administrative Region to assume debts" through emergency procedures, and the bill was passed unanimously.
When introducing the bill, Li Weinong, the Secretary for Economy and Finance of the Macao Special Administrative Region Government, stated that the Macao Special Administrative Region Government launched the "SME Credit Guarantee Program" and "SME Special Credit Guarantee Program" in 2003. The government provides loans to banks for small and medium enterprises. Seventy percent and one hundred percent guarantees allow SMEs to obtain bank financing to support their needs and development.
Li Weinong said that due to the impact of the new crown pneumonia epidemic, the number of applications for these two credit insurance plans has risen sharply in recent months. There are 635 applications under review by the government, and the amounts of credit guarantee and special credit guarantee involved are 564 million yuan (Macau) Yuan, the same below) and 4.5 million yuan. It is expected that the number of applications will continue to rise. The amount of credit guarantee that the SAR government can provide may be used up within a few months.
To this end, the SAR government proposed to the Legislative Council to amend relevant laws to allow the SAR government to increase the maximum amount of credit guarantee provided by the "SME Credit Guarantee Program" from 900 million yuan to 2 billion yuan; The upper limit of the amount of credit guarantee provided by the plan was raised from 100 million yuan to 200 million yuan to help small and medium-sized enterprises overcome financial difficulties, stabilize the job market, and accelerate the economic recovery of the Macao Special Administrative Region.
Li Weinong introduced that since the implementation of the "SME Credit Guarantee Program" and the "SME Special Credit Guarantee Program", the SAR government has approved 882 applications, providing a total of 2.15 billion yuan in guarantees for SME loans. (Finish)