The Macau government has announced the setting-up of a 10 billion pataca (US$1.25 billion) fund to support residents and businesses in urgent need of financial assistance due to the devastating impact of the novel coronavirus disease (COVID-10) on the local economy.
The government announced the establishment of the fund on Saturday.
According to the statement, the fund is earmarked for those struggling to make ends meet or run their business owing to the COVID-19 crisis.
The fund will be managed by the public Macau Foundation (FM).
According to the statement, the government will announced a new round of support measures this week.
The statement pointed out that the government had already set aside 40 billion patacas for a string of measures to help residents and businesses tackle the difficulties caused by the economic impact of the COVID-19 epidemic. For instance, residents are entitled to a 3,000 pataca smart card issued by the government to boost consumption. The government has also announced a string of tax and fee relief and exemption measures.
The Novel Coronavirus Response and Coordination Centre warned yesterday that the next two weeks are crucial in the ongoing fight against the novel coronavirus.
Macau's number of confirmed COVID-19 cases stands at 37. Virtually all of the cases have been imported, mostly from Europe. Macau reported its first COVID-19 case on January 22. The first 10 patients - seven tourists from Wuhan and three locals - have meanwhile been discharged from hospital. Macau's second wave of cases - all of them imported - began on March 15.
