(October 4, 2019. Hong Kong) The Li Ka Shing Foundation has announced a donation of HK$1 billion in support of local Small and Medium Enterprises which are under severe duress from unprecedented challenges on the home front and a slowdown in the global economy. The funds will complement the Hong Kong SAR Government’s own relief measures and reimbursement mechanism to best assist local SMEs to weather the slowdown. Details will be further discussed with Government officials.
Mr. Li Ka-shing, Chairman of the Foundation, said, “The donation works in conjunction with the HK$2 billion package of relief measures recently announced by the Government. I hope that HK$1 billion donation will spark more support for the embattled SMEs. All suggestions are welcome and let’s work together during these difficult times.”
About the Li Ka Shing Foundation
The Li Ka Shing Foundation was established in 1980 to work on education, medical services and research initiatives. To date, Mr Li has invested over HK$25 billion across 27 countries and regions, with about 80% of the projects within the Greater China region. In 2006, Mr Li described his philanthropic effort as akin to having another son in the family. He called for a paradigm shift in our Asian culture of giving, through apportioning more of our wealth and means towards social capital so that we could bring forth great hope and promises for the future.