Hang Seng organises $100m social loan for Unistress
This funding will entail establishing schools for children and transitional homes for low-income households.
Hang Seng Bank inaugurated its first social loan for Unistress Building Construction to sponsor Hong Kong’s community development projects.
The bank has set up HK$100m as its first social loan for the commercial customer, Unistress.
Three of Unistress’ social projects will be financed and refinanced by the bank, precisely for the establishment of a primary school located in Fo Tan as well as two special schools in Kowloon Tong for children with “intellectual disabilities”.
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Further, it also aims to put up transitional housing for low-income households in Yuen Long.
The social loan adheres to the Social Loan Principles set forth by the Asia Pacific Loan Market Association, the Loan Market Association, and the Loan Syndications and Trading Association.