Hong Kong's Chief Executive Carrie Lam announced a series of new financial support measures to help alleviate the economic impact of the coronavirus outbreak in a press conference Friday.
"Today's initiative to announce the setting up of this fund with the estimated amount of HK$25 billion (US$3.2 billion) is a commitment to the people of Hong Kong," said Lam.
Included in the fund will be subsidies for various business sectors that have been impacted by the outbreak, including a US$10,300 subsidy for travel agencies and retail businesses. Help for restaurants will range from US$10,300 to $200,000.
Lam also announced the government will give the Hospital Authority an additional US$650 million in funding to help deal with the outbreak.
Hong Kong's Legislative Council will meet next week to further discuss the details surrounding the fund.