Government to offer preferential loans to workers affected by COVID-19

Taipei, April 7 (CNA) The Cabinet announced Tuesday that it will soon offer preferential short-term loans to workers who have suffered a loss of income due to the COVID-19 coronavirus pandemic.

At a press conference, Minister of Labor Hsu Ming-chun (許銘春) said low-interest loans of up to NT$100,000 (US$3,293) will be extended to a maximum of 500,000 applicants.

The loans will be repayable over a three-year period, with the first year being interest free and the rate on the second and third years set at 1.845 percent, Hsu said.

More details of the preferential loan will be announced within two weeks after the Legislative Yuan passes a NT$150 billion (US$5billion) special budget put forth by the Cabinet as part of a COVID-19 relief package, she said.

Read more: Focus Taiwan