TNAG-2816-FCO40-4062-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1993 — Page 75

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importance of local middleman who became less a cause of rural indebtedness. These organisations are non-profit making and provide orderly and efficient marketing facilities. The main source of revenue is a commission of 10 per cent in

in the case of the Vegetable Marketing Organisation and six per cent in the case of the Fish Marketing Organisation charged on the value of all sales through the markets. If surpluses arise they are re-invested in the development of marketing services and the improvement of farming and fishing industries. The department also provides credit facilities as follows

(1) For farmers

Short-term loans granted from

from the J.E. Joseph Trust Fund, the Kadoorie Agricultural Aid Loan Fund and the Vegetable Marketing Organisation Fund for

for the four year period ending 30 June 1990 amounted to HK$47,228,870. Since the inception of these funds, loans amounting to HK$273,410,672 have been made to farmers. Repayments have amounted to HK$266,713,412.

(ii) For fishermen

Since the inception of these loan funds:

(a) Loans paid out from the Fish Marketing Organisation Loan Fund amounted to HK$167,915,216 with HK$145,645,632 having been repaid.

(b) Loans paid out from the Fisheries Development Loan Fund amounted to HK$23,751,107 with HK$17,035, 470 having been repaid.

(c) Loans paid out from

from the Co-operative for American Relief Everywhere Inc. Fund amounted to HK$2,001,262 with HK1,862,026 having been repaid.

(d) Loans paid out from the World Refugee Year Loan Fund"

amounted to HK$16,512,950 with HK$15,673,173 having been repaid.

(iii)For farmers and fishermen's co-operatives

The total loan funds from the United Nations High Commissioner for Refugees for lending to co-operative societies for productive purposes and for relief from

relief from indebtedness and members" domestic troubles amounted to HK$1,104,251. Since the establishment of this revolving loan fund,

loan

loans totalling HK$16,941,990 have been made to 43 fishermen's co-operative societies and to 26 farmers' co-operative sccieties. Repayments for both groups have amounted to HK$16,102,213.

To help improve agricultural production, the government has estimated HK$2,700,000 on the construction of new irrigation in the New Territories. It is estimated that HK$900,000 will be spent on these projects during the financial year 1990/91.

spent an works

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