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Green Finance Certification Scheme  |  HKSAR Government’s Green Bond Grant Scheme  

HKSAR Government’s Green Bond Grant Scheme

The HKSAR Government announced the launch of the Green Bond Grant Scheme (GBGS) on 15 June 2018 to subsidise eligible green bond issuers in obtaining certification under the Green Finance Certification Scheme (GFCS) established by the Hong Kong Quality Assurance Agency (HKQAA). 

The full cost of obtaining certification under the GFCS for eligible green bond issuances will be granted, up to a maximum of HK$800,000 per bond issuance. First-time and repeated issuers with their green bonds of any tenor issued and listed in Hong Kong, and denominated in any currency at a minimum size of $500 million (or the equivalent in foreign currency), are welcome to apply. The GBGS will be valid for a period of three years. Further details on the grant eligibility criteria are available in the Annex of the Government's announcement.

 

GBGS Application Process

HKQAA will provide the GBGS application form for grant applicant at GFCS certificate issuance. For Pre-issuance stage certificate, grant applicant should submit the duly completed application form with relevant supporting documents to HKQAA within 10 weeks upon green bond issuance or certificate issuance whichever is later. For Post-issuance stage certificate, the application documents should be submitted to HKQAA within 10 weeks upon certificate issuance or upon completion of annual surveillance assessment as applicable.

Upon receipt and administrative checking of the application form and supporting documents, HKQAA will submit the application documents to the Government for grant disbursement approval.

 

GBGS Grant Disbursement Arrangement

The Government will disburse the approved grant to the grant applicant via HKQAA in the form of a crossed cheque payable to the grant applicant. HKQAA will deposit the cheque on behalf of the grant applicant in its bank account as indicated in the application form within 14 calendar days of such receipt. Grant applicant will be provided with deposit record for acknowledgement.
 

 

 

 

 

 

 

 

 

 

 

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Last Update: 2019-07-18   Disclaimer and Copyright
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