Tourism Bureau sets up bailout for travel agencies

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The Tourism Bureau announced earlier this week that it was planning to provide loans to struggling travel agencies that have been hit hard by the economic downturn.

Bureau officials said they had already submitted the plan to the Council for Economic Planning and Development.

The bailout plan comes after three travel agencies reported financial difficultiesin the space of two weeks.

The bureau would offer two types of loans to travel agencies.

Those having operational capital of NT$25 million (US$768,800) and above would be eligible for a loan of NT$10 million, whereas those with operational capital below NT$25 million and above NT$3 million would only be able to apply for a NT$5 million loan.