Industrial & Commercial Development Fund disburses MOP109 mln in Q4

The city’s Industrial and Commercial Development Fund disbursed MOP108.9 million (US$13.6 million) in the fourth quarter of last year to subsidise events held by local enterprises and their bank loan interest, in addition to establishing or maintaining SME websites, according to yesterday’s Official Gazette. During 2015’s last quarter, the Fund subsidised 666 local firms and companies. Of the total, 23 were awarded MOP89.92 million for expenditure on their events and activities held during the period, accounting for 82.6 per cent of the total. Meanwhile, some MOP15.04 million was allocated to subsidising the bank loan interest of 388 local enterprises based on the Interest Subsidized Scheme on Bank Loans to Enterprises. The scheme, implemented in 2009, subsidises four per cent interest on bank loans of between MOP300,000 and MOP10 million of local companies. The Fund also disbursed subsidies of some MOP3.92 million to 255 SMEs to set up or maintain their own websites during the fourth quarter of last year. The financial support programme grants subsidies between MOP6,000 and MOP50,000 to each SME seeking to establish or maintain online sites.