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US$6.22 BLN IN LOANS TO AID CITY RENOVATION PROJECTS IN TAIWAN.

AsiaPulse News

| February 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TAIPEI, Feb 1 Asia Pulse - The government is urging housing developers to make use of a NT$200 billion (US$6.22 billion) loan program to engage in city renovation projects, Ministry of the Interior officials said Thursday.

The officials with the ministry's Construction and Planning Agency disclosed that the Interior Ministry has granted a total of NT$2.7 billion in loans to applicants since the program began in May 2006.

They added that the joint program between the government and 27 banks is intended to serve the dual purpose of helping property developers cope with their financial difficulties and stimulating domestic market demand.

According to the officials, applicants can ...

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