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Recycling Fund Launches New Measures to Raise Funding Amounts, Project Number and Duration
(Hong Kong, 22 November 2019) The Advisory Committee on Recycling Fund (RFAC) announced further enhancement measures of the Recycling Fund (the Fund) to improve its operation, in terms of raising the funding amounts, extending the scope of the programme and duration, also in a bid to boost funding support and push ahead sustainable development of the recycling industry.
The RFAC has implemented the first batch of Recycling Fund enhancement measures after completion of a comprehensive mid-term review early this year. In an effort to further bolster the recyclers and encourage them to implement recycling projects of a larger scale or with more value-added elements, the RFAC carried out new round of enhancement measures. Under the Enterprise Support Programme, the cumulative maximum funding amount for each enterprise will be raised from HK$5 million to HK$15 million; the cumulative maximum number of approved projects will be increased from 3 to 10; and the maximum implementation period for each project will be extended from 2 years to 4 years.
Since the launch of the Recycling Fund in October 2015, the RFAC has been maintaining close liaison with the local recyclers, conducting regular review of the programmes, as well as gauging views of the industry for improvement. As of September 2019, the RFAC has approved funding for 286 applications, among them 235 projects are either in progress or ready to start, involving a total funding of about HK$220 million.
Applications for the Fund are accepted all year round. For more information, please visit the Fund website: www.recyclingfund.hk; contact the Secretariat at (852) 2788 5658 or email enquiry@recyclingfund.hk.
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