Session No. 5 File name : cedb(cit)- doc
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- Examination of Estimates of Expenditure 2010-11
Question: The 2010-11 estimate under “Support for Small and Medium Enterprises and Industries” is 111.7% higher than the original estimate or 49.5% higher than the revised estimate for 2009-10. This is mainly due to the full-year salary provision for filling vacant posts, hosting of the 30th APEC SME Working Group Meeting and its related activities in 2010, and increase in cash flow requirements for SME funding schemes. Please provide a breakdown on each item. Asked by: Hon. IP Wai-ming Reply: The allocation of provisions for Programme (3) under the Estimates of Expenditure 2010-11 is as follows：
Question: Regarding Support for Small and Medium Enterprises and Industries, please provide the following information: (a) In 2009-2010, what are the utilisation rate and expenditures involved with respect to SME funding schemes and the Special Loan Guarantee Scheme? (b) What are the performance indicators for the schemes? (c) How much extra resources are needed for the continued implementation of the schemes in 2010-11? Asked by: Hon. IP Wai-ming Reply: (a) The SME funding schemes, which include the SME Loan Guarantee Scheme, the SME Export Marketing Fund and the SME Development Fund, were introduced in 2001. As at end of February 2010, the total amount of loan guarantee and grants approved under the SME funding schemes amount to $13.5 billion and $1.9 billion respectively, representing about 70% of the approved commitment or provision of the relevant schemes. The Special Loan Guarantee Scheme (SpGS) was launched in December 2008. As at end of February 2010, the total amount of loan guarantee approved was $53.3 billion, representing 53% of the approved commitment, involving a total loan amount of over $69 billion. In 2009-10, the revised estimates for the SME funding schemes and SpGS are $461 million and $2.24 million respectively, which are used for the payment of grants and settlement of default claims submitted by the participating lending institutions after the claims have been vetted by the Trade and Industry Department. (b) The performance indicators for the schemes include the number of applications, the amount of grants or loan guarantee approved, and the number of beneficiaries. (c) In 2010-11, the estimated expenditure for the SME funding schemes and SpGS is $717.3 million, representing a 55% increase compared to the revised estimate in 2009-10.
Directory: citb -> doc doc -> Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc Download 4.7 Mb. Share with your friends:
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