A recycling subsidy has been launched by the Hong Kong Government to help its recycling sector deal with the coronavirus situation.
Hong Kong’s Advisory Committee on Recycling Fund (RFAC) will offer HK$100 million (£10.5 million) in a scheme known as One-off Recycling Industry Anti-epidemic Scheme (ORIAS).
It has also allocated additional funds to extend the One-off Rental Support Scheme that was launched in October last year. For another six months HK$200 million (£21 million) will help the recycling industry “ride out the difficult times”.
The ORIAS scheme aims to provide financial support to help recyclers’ operational costs for six months. The funding limit for each recycler is HK$20,000 per month (£2,093) from 1 January 2020 to 30 June 2020 for a total maximum subsidy of HK$120,000 (£12,550).
A spokesman for Hong Kong’s Environmental Protection Department said: “Over 200 applications have been received, involving subsidies of HK$24 million (£2.5 million). The first batch of 18 applications has been approved and HK$1.08 million (£113,000) has been dispursed. The Recycling Fund will process the applications promptly to provide assistance to eligible recyclers.”
In its recent Budget, the Hong Kong Government also allocated HK$300 million (£31 million) each year to implement waste paper collection and recycling services. The aim of this is to stabilise the volume recycled and the price of local waste paper.
The Environmental Protection Department will appoint contractors to collect paper from all local districts for filtering, sorting, baling and exporting. It is expected to commence in the second half of the year.