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The Northern Metropolis Financial Advisory Taskforce, jointly established by the Hong Kong Monetary Authority and the Hong Kong Association of Banks, convened its second meeting on Wednesday to explore how the banking sector can facilitate the implementation of Northern Metropolis projects through diverse financing models..
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During the meeting, the Financial Services and the Treasury Bureau (FSTB) presented development models adopted by the government to expedite the development of the Northern Metropolis, such as establishing industry park companies to participate in the development and operation, as well as guiding market forces to accelerate project development through public-private partnerships.
The FSTB also noted that funding for Northern Metropolis-related public works projects secured from the Legislative Council Finance Committee has already exceeded HK$180 billion.
Considering that many Northern Metropolis projects will adopt diverse PPP models, a dedicated Workstream on PPP Financing has been established under the taskforce to promote the exchange of expertise.
The Workstream will draw on relevant experiences to examine different development models and risk mitigation measures that can enhance the bankability of the projects in the Northern Metropolis.
