Recycling Fund Launches New Measures - to Help Industry Fight the Virus and Overcome Challenges

(Hong Kong, 16 March 2020) The Advisory Committee on Recycling Fund (RFAC) today announced the launch of the “One-off Recycling Industry Anti-epidemic Scheme” (ORIAS) to help the recycling industry cope with the current economic situation and recent operation difficulties brought by the COVID-19 virus infection. Similarly, the RFAC has decided to extend the earlier-launched “One-off Rental Support Scheme” (ORSS) for another 6 months to fight the virus and ride out the difficult times with the recycling industry.

In view of the impact of COVID-19 virus cases on local recycling industry, the RFAC has decided to earmark around HK$100 million for implementing the ORIAS under the Enterprise Support Programme (ESP), providing timely financial support for 6 months on the operational cost of the recyclers. The maximum funding limit for each recycler is HK$20,000 per month. The funding period will cover from 1 January to 30 June 2020, making a total maximum subsidy of HK$120,000. The ORIAS will open for application starting today and the deadline of applications is the end date of the Scheme (i.e. 30 June 2020).

Recyclers with operations on or before 1 January 2020 can apply for the ORIAS by only providing simple documentary proofs including copies of Business Registration Certificate, transaction records of recyclables, photos of the operation sites etc. for application. Recyclers who have successfully applied for funding with the Recycling Fund’s ESP will only have to undergo simple application procedures for this Scheme without the need to resubmit documentary proofs, as their relevant records have been earlier obtained by the Secretariat of the Recycling Fund. Subject to the timing of individual applications, it is expected that the first instalment related to the subsidy of the first 3 months will be available from April onwards and the rest of the subsidy will be disbursed in the middle of this year.

Meanwhile, the earlier-launched ORSS, which has been accepting applications for 6 months of rental support starting from October 2019, will now be extended for another 6 months. It will run till 30 September 2020, totalling 12 months. Upon the extension, the maximum funding limit for each recycler under the ORSS will be 50% of the rental or HK$25,000 per month (whichever is lower). The maximum rental funding limit will be raised to HK$300,000. The eligibility and requirements for application remain unchanged and the deadline of applications is also extended to the new end date of the Scheme (i.e. 30 September 2020). Recyclers who have successfully applied for the ORSS will receive a dedicated notification of the extension period. While re-submission of application is not required, earlier successful applicants will only have to keep their rental receipts and valid tenancy agreements for verification purposes.

For more information about the ORIAS, the ORSS and the Recycling Fund, please visit the Fund website: www.recyclingfund.hk; contact the Secretariat at +852 2788 5658 or email enquiry@recyclingfund.hk.

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