XN000022-1996-07-20+21 — Page 5

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$63 million Lotteries Fund approved

A total of $63,049,400 has been approved from the Lotteries Fund to finance various social welfare service programmes during the second quarter of 1996, a spokesman for the Social Welfare Department said today (Saturday).

"Of the amount, $9,223,700 are earmarked to family and child welfare services, $25,585,100 to elderly and medical social services, $24,434,000 to rehabilitation services, $2,913,100 to youth services, $287,000 to services for offenders, $21,000 to community development services and $585,500 to social welfare support programmes," the spokesman said.

The Lotteries Fund was established for the purpose of financing, by way of a grant, loan or an advance, the operation or development of social welfare services and medical or educational projects with a welfare content.

End

Hong Kong Monetary Authority money market operations

Time

Cumulative change

$ million

(hours)

($ million)

Opening balance in the account

1.828

09:30

+130

Closing balance in the account

1.868

10:00

+130

Change attributable to:

11:00

+130

Money market activity

+130

11:30

+130

LAF today

-90

LAF rate 4.00% bid/6.00% offer TWI 124.0 *-0.1* 20.7.96

End