In response to the central bank’s interest rate hike, Executive Premier Su Zhenchang held a meeting this morning. During the meeting, he confirmed that the government will continue to subsidize the youth entrepreneurship and relief loans from the Ministry of Economic Affairs, the education loans from the Ministry of Education, and the increased interest on labor relief loans.

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[Reporter Zhong Lihua/Taipei Report] In response to the central bank’s interest rate hike, Executive Premier Su Zhenchang held a meeting this morning, at which he confirmed the increased interest on the Ministry of Economic Affairs’ youth entrepreneurship and relief loans, the Ministry of Education’s student loans, and labor relief loans Part of it will continue to be subsidized by the government.

Officials said that the United States has been raising interest rates, which is also in response to stabilize prices.

The central bank announced on December 15 that the rediscount rate was raised by half a yard (0.125%). "Loans" for the extension of old loans, working capital loans, and revitalization fund loans that enjoy interest subsidies, if the interest rate of Chunghwa Post Fixed Savings is also raised by half a yard, the amount of interest subsidies will be adjusted accordingly, and the interest subsidy rights of loan customers will not Affected by interest rate hikes.

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The Ministry of Economic Affairs explained that for young entrepreneurs who apply for the "Youth Entrepreneurship and Startup Fund Loan" and enjoy interest subsidies, if the Chunghwa Post Company's fixed deposit interest rate is raised by half a yard, the subsidy interest rate will be increased from 1.92% to 2.045%.

In addition, small and medium-sized enterprises affected by the epidemic can enjoy interest subsidies when applying for relief and revitalization loans. If the interest rate is raised by half a yard, the interest rates of their old loans, working capital, and revitalization loans will be increased from 1.31%, 2.345%, and 1.345% respectively. 1.435%, 2.47% and 1.47%, the upper limit of the subsidy amount per household remains unchanged at 220,000 yuan, 55,000 yuan and 220,000 yuan, and the difference between the above-mentioned interest rate increases will be fully absorbed by the government.

According to the Ministry of Education, at present, 93% of the student loan students have their interest fully subsidized by the Ministry of Education during their studies, and the remaining 7% of the student loan students who need to pay half or full interest on their own will still be subsidized by the Ministry of Education. All current students who apply for school loans will not increase their interest burden because of this interest rate increase.

In addition, for school loan graduates who are already repaying, if they have difficulty repaying due to the interest rate increase this time, as long as they meet the conditions of an average monthly income of less than 40,000 yuan, they can apply for a deferred payment of up to 8 yuan in principal and interest. During the principal and interest payment period, graduates are exempted from paying principal and interest, and all interest is subsidized by the Ministry of Education. Therefore, the interest burden will not be increased due to this interest rate increase.

The Ministry of Labor pointed out that in response to the central bank’s fourth interest rate hike in December this year, the loan interest rate of the “Labor Relief Loan” was increased from 2.095% to 2.22%. For those who make normal repayments according to the agreement, the Ministry of Labor will fully subsidize the loan interest with a half-mark increase in the interest rate, so as to take care of the workers' friends.

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