Hong Kong throws SMEs lifeline with raft of measures, HK$450 billion in loans

Hong Kong authorities have rolled out fresh measures to support small and medium-sized enterprises (SMEs) reeling from the Global Fuel Crisis and geopolitical tensions in the Middle East, including a 21 per cent rise in available bank lending to HK$450 billion (US$78.43 billion).The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, said on Wednesday that the measures for SMEs were designed to improve access to financing, strengthen their business resilience and accelerate their upgrade and transformation amid mounting operational challenges linked to conflict in the Middle East.The Task Force on SME Lending, comprising the HKMA and the Hong Kong Association of Banks, has expanded the size of dedicated funds set aside in its loan portfolio for SMEs from HK$370 billion in October 2024 to more than HK$450 billion, representing a 21 per cent increase.