Hang Seng Bank has arranged a HK$100 million (US$12.77 million) social loan for Unistress Building Construction, a Hong Kong-based construction company.
The facility will be used to finance or refinance three of Unistress’ social projects. These include the building of a primary school in Fo Tan and two special schools in Kowloon Tong for children with intellectual disabilities, and the construction of transitional housing for low-income families in Yuen Long.
According to the bank, the loan will help drive socioeconomic advancement and empowerment by opening up access to education for children and those with special needs, as well as improving housing affordability.
The social loan is aligned with the Social Loan Principles of the Asia Pacific Loan Market Association, the Loan Market Association, and the Loan Syndications and Trading Association.