Taiwan’s legislature has passed a financial relief proposal that sets aside NT $ 840 billion for direct payments and loans to citizens and businesses.
The Executive Yuan is due to promulgate the budget on June 3, and the first payments are expected to be credited to the accounts by June 4.
Middle and low income households are entitled to an additional monthly subsidy of NT $ 4,500 (USD 163) per household member for three months.
Cities and counties in Taiwan have different income thresholds, ranging from a maximum of NT $ 25,508 (US $ 923) per month per household member in Taipei to NT $ 17,472 (US $ 632) in outer islands of Kinmen and Matsu.
The grant of NT $ 4,500 is in addition to the annual grant for middle and low income households in Taiwan of approximately NT $ 150,000 (US $ 5,435) per year in Taipei.
By occupation, farmers and fishermen are entitled to a one-time payment of NT $ 10,000 (US $ 362), while the self-employed, including street vendors and tourism-related workers – including tour operators, guides Tourist and tourist bus drivers – are eligible for the monthly grant of NT $ 10,000 (US $ 362) for three months.
In addition, workers can obtain loans from state-owned banks up to NT $ 100,000 (US $ 3,623) at reduced interest rates, Premier Su Tseng-chang said, adding that around 500,000 workers will benefit from this policy.
READ: Taiwan plans NT $ 25 billion grant for families
The government allocated NT $ 420 billion (US $ 15.2 billion) last year to help workers and businesses hit hard by the pandemic. Kung Ming-hsin, Minister of the National Development Council, said that with previous experience in processing applications, people will not have to wait in long lines outside public offices to apply for the grants. this time, according to The News Lens.