Taiwan approves up to US$30.4 billion for pandemic relief

Taiwan’s legislature has passed a financial relief proposal that will see NT$840 billion set aside for direct payments and loans to citizens and businesses.
By: | June 2, 2021

The Executive Yuan is due to sign the budget into law on June 3, and the first payments are expected to be credited into accounts by June 4. 

Middle and low-income households are eligible for an additional NT$4,500 (US$163) of monthly subsidy per household member for three months.  

The cities and counties of Taiwan have different income thresholds, varying from a high of NT$25,508 (US$923) monthly per household member in Taipei to NT$17,472 (US$632) in the outlying islands of Kinmen and Matsu.  

The NT$4,500 subsidy comes on top of the annual subsidy for middle and low-income households in Taiwan of around NT$150,000 (US$5,435) per year in Taipei. 

By occupation, farmers and fishermen are entitled to a one-off payment of NT$10,000 (US$362), while the self-employed, including street peddlers, and tourism-related workers – including tour operators, tour guides, and tour bus drivers – are eligible for the NT$10,000 (US$362) monthly subsidy for three months. 

In addition, workers can obtain loans from state-owned banks of up to NT$100,000 (US$3,623) at a reduced interest rates, said Premier Su Tseng-chang, adding that about 500,000 workers will stand to benefit from this policy. 

READ: Taiwan plans NT$25 billion subsidy for families

The government allocated NT$420 billion (US$15.2 billion) last year to help workers and companies hard hit by the pandemic. Kung Ming-hsin, Minister of the National Development Council, said that with the previous experience in processing applications, people will not have to wait in long queues outside public offices to apply for the subsidies this time, according to The News Lens.