Secretary for Health Lo Chung-mau told lawmakers that taxpayers will not lose out if the Chinese University of Hong Kong medical centre repays a public loan ahead of schedule. The remarks came during a Legislative Council health services panel meeting on Friday.
Lo Chung-mau made the comments after lawmaker Kitson Yang Wing-kit criticised the hospital for seeking repayment extensions during the Covid-19 pandemic and now wanting to refinance at lower rates.
Yang said the centre had asked the Legislative Council for a deferral when times were hard and later sought cheaper financing once profits improved.
The HK$4.033 billion loan was originally granted in 2015, with repayment pushed back from 2023 to 2028. CUHK Medical Centre CEO Chung Kin-lai told the panel that the hospital’s finances have since improved.