Eighteen local banks in Hong Kong have agreed to extend loan repayment periods for small and medium-sized enterprises by as much as 90 days and push back trade finance loan repayment periods for the import and export sector to a maximum of 180 days, The Standard reported.
The move aims to mitigate the impact of ongoing trade disputes and is part of a broader initiative by an 18-bank task force established in 2024 to support SMEs, the report said.
The lenders also agreed to provide additional credit facilities to address shipment and order disruptions caused by escalating trade tensions, according to the report.
Additionally, the participating banks committed to allocating HK$390 billion in loans to aid SME upgrading and restructuring initiatives, the news outlet said.
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