Unemployed Hongkongers to be offered low-interest loans of up HK$80,000 guaranteed by government for first time

The Hong Kong government is for the first time offering to guarantee low-interest personal loans for unemployed people, after the Covid-19 pandemic sent the city’s jobless rate to a 17-year high.Permanent residents aged 18 and above who have been out of work for at least two months can apply for loans of up to HK$80,000 (US$10,306) or six times their previous salary, under a scheme announced by government-owned HKMC Insurance on Tuesday.The 10 participating banks initially include HSBC, Hang…

Read the original article at South China Morning Post