Gwangju Dong-gu Selected as Best Local Government for 'Local Small Business Hope Loan Project'

[Asia Economy Honam Reporting Headquarters Reporter Jo Hyung-joo] Dong-gu, Gwangju (Mayor Im Taek) announced on the 2nd that it was selected as the best local government in the Ministry of the Interior and Safety's 'Regional Small Business Hope Loan' contest project and secured a special grant of 400 million won.

The 'Regional Small Business Hope Loan' project is one of the seven key tasks of the 'Resident Life Innovation Case Expansion Support Project.' It supports 4% of the one-year interest burden on loans taken by low-credit small business owners or residents within the district through contracted financial institutions.

In this evaluation, Dong-gu received high marks for ▲establishing sustainable governance ▲resolving financial blind spots for low-credit individuals ▲discovering creative policies reflecting regional characteristics.

In particular, it received favorable evaluations for signing agreements with the Korea Inclusive Finance Agency, Gwangju Bank, and eight Saemaeul Geumgo branches in the region, fully embracing low-credit individuals who are financially marginalized and often forced to turn to private loan companies due to high bank thresholds.

Mayor Im Taek of Dong-gu said, "We have supported small business owners who have been struggling due to the prolonged COVID-19 pandemic in various ways," adding, "We will continue to strive to prepare effective measures to revitalize the management of self-employed and small business owners."

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