The Hong Kong Mortgage Corporation Limited plans to launch a three-year pilot microfinance program in mid-2012. The program would offer three types of loans: (1) micro-business start-up loans, with a maximum amount of HKD 300,000 (USD 38,700); (2) self-employment loans with a maximum amount of HKD 200,000 (USD 25,800); and (3) “self-enhancement” loans for education with a maximum amount of HKD 100,000 (USD 12,900). The maximum loan tenor will be five years [1].
The Hong Kong Mortgage Corporation was established in 1997 and is owned by the government of China’s Hong Kong Special Administrative Region. As of December 31, 2010, HCMC had total assets of HKD 55 billion (USD 7.1 billion) and return on assets of 2.2 percent [2].
By Natalie Baer, Research Associate
Sources and Additional Resources:
[1] Press Release “Microfinance Pilot Scheme” February 2, 2012, http://www.hkmc.com.hk/eng/ceo/…/20120202e_Microfinance_FINAL
[2] The Hong Kong Mortgage Corporation Limited website, http://www.hkmc.com.hk/
MicroCapital.org story, January 24, 2012, “MICROCAPITAL BRIEF: Microfinance Institutions in China Report $58b in Outstanding Loans,” https://www.microcapital.org/microcapital-brief-microfinance-institutions-in-china-report-58b-in-outstanding-loans/
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