$90m disbursed to aid recyclers

May 25, 2020

The Recycling Fund has disbursed over $90 million in anti-epidemic and rental support subsidies to recyclers through the One-off Recycling Industry Anti-epidemic Scheme (ORIAS) and the One-off Rental Support Scheme (ORSS).


As of today, the fund has approved more than 410 applications for the ORIAS, involving subsidies of about $50 million. Over 170 applications for the ORSS, involving subsidies of about $42 million, have also been approved.


The fund has allocated $100 million to launch the ORIAS to provide timely financial support to help recyclers’ operational costs for six months.


The funding limit for each recycler is $20,000 per month from January 1 to June 30, with a maximum subsidy of $120,000.


With a total funding of $250 million, the ORSS originally ran from October 2019 to March this year to provide rental concessions of 50% to the trade.


The rental concession period was extended for another six months to September, with rental subsidies increased from 50% to 75%, setting the maximum total rental subsidy for the 12-month period at $375,000.


The two schemes are open for applications and continue to disburse subsidies to help the industry cope with difficulties. The application deadline for the ORIAS is June 30, while that of the ORSS is September 30.


For enquiries, visit the fund’s website, call 2788 5658 or send an email.

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