More funding could be sought if HK$10b university town loan scheme falls short

Hong Kong’s education secretary has said she will seek additional funding if a HK$10 billion loan scheme falls short of the needs of institutions setting foot in the Northern Metropolis’ first university town, while warning that their financial plans must be feasible and they must not “take chances”.

A task force jointly established by the Hong Kong Monetary Authority and the Hong Kong Association of Banks will designate 11 tertiary institutions as public sector entities to help them secure bank financing for projects in the Northern Metropolis.

Secretary for Education Christine Choi Yuk-lin told a Legislative Council panel meeting on Friday that institutions seeking to establish themselves in the university towns, as well as lawmakers, had called for more financial support.