Li Ka Shing Foundation Announces Additional Round of Crunch Time Instant Relief Fund for the HK F&B Industry

Li Ka Shing Foundation Announces Additional Round of Crunch Time Instant Relief Fund for the HK F&B Industry

A computer-generated process will choose awardees who will benefit from the fund

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Foodie  Foodie Your Guide to Good Taste  on 13 Dec '19

Header photo: Jon Tyson on Unsplash

Local philanthropist Li Ka-shing has released an update to his Crunch Time Instant Relief Fund, which was designed to help to prop up struggling F&B businesses during the political turmoil continuing in Hong Kong, with one more round of relief handed out.

According to a press release from the Li Ka Shing Foundation (LKSF), so far the relief scheme has received a total of over 43,000 applications, and HK$1billion will be distributed to about 27,000 successful applicants, who will receive the funds by mid-December this year.

LKSF plans to award the remaining portion – about HK$100 million – through a final round of random computer generation involving qualified applicants who were not previously selected, with each grant totalling HK$30,000.

In the last phase of the fund, designated specifically for the travel industry and hawkers, they received 1,585 applications from SMEs in the travel industry and 4,942 applications from licensed hawkers. Those successful will receive grants of between HK$5,000–50,000.

LKSF said in a press release, “To be able to serve the community is always a blessing. We are grateful that the Crunch Time Instant Relief Fund has met with resounding enthusiasm, and we would like to thank all individuals, groups and communities that have offered us considerable support.”

On behalf of Li Ka-shing himself, LKSF relayed, "Personally, Mr Li is profoundly touched and encouraged by the outpour of well wishes and gifts he received from many proprietors of the F&B sector. He understands more than anyone the hardships entrepreneurs have to bear, but with fortitude and self-belief, everyone can overcome hard times and reshape their future even if we hit the ground. Stay positive. Never give up.”

RELATED: How Are Restaurants Being Affected by the HK Protests?

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