Taiwan’s transportation ministry has approved a budget of NT$1.2 billion (nearly US$40 million) in loans to assist businesses in the tourism industry. That’s as the industry deals with the impact of the COVID-19 outbreak.
Hotels, B&B’s, and other businesses in the tourism industry will be able to take out loans, and the government will subsidize part of the interest on those loans. The government will release a comprehensive plan on Tuesday.
B&Bs will be eligible to take out loans of up to NT$10 million (about US$330,000) while hotels and amusement parks will be able to take out loans of up to NT$30 million (about US$1 million).
There are over 9,000 registered B&Bs in Taiwan, of which about 80% could benefit from this plan.