| 50. |
In
recent years, we have progressively enhanced
the Local Enterprise Finance Scheme (LEFS)
to help SMEs cope with the challenging economic
conditions. The changes include increasing
the default risk borne by the Government from
50% to 80% and reducing the LEFS fixed interest
rates. In view of the continued economic weakness,
we will extend the LEFS enhancements for another
year till 30 June 2004. This will cost the
Government $25 million. |
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