Macau (MNA) – The Industrial and Commercial Bank of China (ICBC) (Macau) announced on Tuesday a special loan scheme totalling some MOP6 billion (US$742.51 million) for residents and SMEs (small and medium-sized enterprises) in the wake of damage caused by the passage of Typhoon Mangkhut.
According to a press release by the financial institution, the loan aims to assist local SMEs by providing short-term capital for business operations and recovery such as refitting of stores and business facilities and product purchase.
ICBC has pledged to accelerate the evaluation of applications for the special loan, which opened today.
The bank also stated that, given that a larger area was affected by the super typhoon this time, the special loan also extends to local enterprises which have investments in the Greater Bay Area.
ICBC is also offering an instalment plan for credit card services for affected drivers and households whose vehicles and houses were damaged during the passage of Typhoon Mangkhut on September 16.
