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Bank of Valletta has signed an operational agreement with the European Investment Bank (EIB) and the European Investment Fund (EIF) to launch a clean energy financing product that benefits from a guarantee and interest rate subsidy financed by the European Regional Development Fund (ERDF).
Commenting on the signature of the agreement, EIF chief executive Alain Godard said: “I am delighted with today’s signature as this is the first financial instrument using structural funds that targets projects related to energy efficiency and renewable energy. This instrument is a clear novelty for the market as it combines a guarantee with an interest rate subsidy programme while banks will be supported by a consultant selected by EIB Advisory Services to measure the impact of investments generated by the portfolio. It is very encouraging that the Maltese Managing Authority decided to pioneer this financial instrument with the EIF and I look forward to continued cooperation going forward.”
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Total funds available for local small and medium enterprises reach â¬118 million.
December 21, 2020 12:05 PM
From the EIB Group and the EU Commission additional resources for the implementation of the SME initiative in coordination with the Maltese Government.
Total funds available for local small and medium enterprises reach â¬118 million.
In light of the effects of the coronavirus pandemic on the Maltese economy, the EIB Group (European Investment Bank â EIB and European Investment Fund â EIF) has signed an agreement with the Government of Malta and the European Commission to increase financing available under the SME Initiative in Malta. The agreement was signed today by Alain Godard, EIF Chief Executive; Miguel Morgado, EIB Director; Hon. Stefan Zrinzo Azzopardi, Parliamentary Secretary for EU Funds within the office of the Prime Minister; and Paul Zahra, Permanent Secretary for EU Funds within the Office of the Prime Minister.
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