Additional €15 million for students to further their studies​​

BOV again entrusted as Exclusive MDB Partner to support students achieve their ambitions

FSMA+ is an EU-funded scheme implemented by MDB through BOV

Following the issue by the Malta Development Bank of an open call for expression of interest, Bank of Valletta has been selected to intermediate the Further Studies Made Affordable plus (“FSMA+”) scheme, a Financial Instrument implemented by the Malta Development Bank after securing EU funds from Malta’s European Social Fund Operational Programme. Through this scheme, ESF funds will serve as a guarantee for the creation of a loan portfolio of up to €15 million which will be made available as financing to students who wish to further their studies.

The FSMA+ builds on the success of the FSMA scheme which was launched in 2019 and generated over €9 million in new study loans. The BOV Studies Plus+ supports students or professionals who want to pursue studies in Malta or abroad on a full time/part time basis or through distance learning. The BOV Studies Plus+ can help finance accommodation, living and travelling expenses in addition to the tuition fees on very favourable terms.

The benefits of BOV Studies Plus+ include a moratorium during the study period plus one year during which the student does not pay any interest, a longer repayment term, no collateral requirements and a low interest rate during the remaining term of the loan. The interest on the loan during the moratorium period is fully subsidised thanks to EU funds made available by the Managing Authority through its implementing partner the Malta Development Bank.

The agreement was signed by BOV Chief Retail Banking Officer Kenneth Farrugia and Malta Development Bank Chairman Prof Josef Bonnici in the presence of BOV Chairman Dr G​ordon Cordina, the Hon. Dr Stefan Zrinzo Azzopardi, Parliamentary Secretary for European Funds and Ministers Hon. Silvio Schembri, Minister for the Economy and Industry and Hon Dr Clifton Grima, Ministry for Education and Sport.

‘Education is a vital tool and all students should be able to access and finance their higher education as they proceed in their unique life journey,’ said the BOV Chairman. ‘Bank of Valletta is proud to have been selected by the Malta Development Bank to implement the largest fund for​ student financing to date, at even better rates than previous editions. The BOV Studies Plus+ is tailored to equip students with confidence in the decisions they are making to plan and pay for higher education which in turn will yield economic mobility and advancement for generations to come.’

‘The Malta Development Bank’s collaboration with Bank of Valletta has already provided over €9 million during the past two years and another €15 million will be made available to students and professionals seeking to maximise their potential,’ said Prof Bonnici. ‘The strong appeal of this funding spurred us to seek more financing from the European Social Fund (ESF) that will enable students to achieve more successes in their personal and professional lives and play an important role in Malta’s post-pandemic economic recovery.’

​‘This is yet another investment from European Union funds towards education and facilitating financing that will guarantee long term sustainable investments for the country,’ said Dr Zrinzo Azzopardi. ‘This multi-million-euro scheme will offer our youth and even senior students more opportunities to develop their skill-set and obtain their desired employment with the country benefitting from their additional skills and resources.’

The BOV Studies Plus+ (Further Studies Made Affordable Plus Financial Instrument) is supported by the Operational Programme II, co-funded by the European Social Fund and managed by the Malta Development Bank.

More information can be found at https://www.bov.com/content/bov-studies-plus-plus. To apply one should set up an appointment with a BOV Branch through https://www.bov.com/Assistants/set-an-appointment or by sending an email on customercare@bov.com.


€15-il miljun addizzjonali għal studenti li jixtiequ jkomplu fl-istudji tagħhom

Il-BOV jerġa jintagħżel bħala Sieħeb Esklussiv tal-MDB biex jappoġġja l-istudenti biex jilħqu l-ambizzjonijiet tagħhom

FSMA+ hija skema ffinanzjata mill-UE implimentata mill-MDB permezz tal-BOV

Wara l-ħruġ mill-Bank Malti għall-Iżvilupp ta’ sejħa miftuħa għal espressjoni ta’ interess, il-Bank of Valletta intagħżel bħala intermedjarju fl-iskema Further Studies Made Affordable plus (“FSMA+”), Strument Finanzjarju mplimentat mill-Bank Malti għall-Iżvilupp wara li kiseb fondi mill-UE fondi mill-Programm Operattiv tal-Fond Soċjali Ewropew (FSE) ta’ Malta. Permezz ta’ din l-iskema, il-fondi tal-FSE se jservu bħala garanzija għall-ħolqien ta’ portafoll ta’ self sa €15-il miljun li se jkun disponibbli bħala finanzjament għall-istudenti li jixtiequ jkomplu l-istudji tagħhom.

L-FSMA+ tibni fuq is-suċċess tal-iskema tal-FSMA li tnediet fl-2019 u ġġenerat ‘il fuq minn €9 miljun f’self ġdid għall-istudju. Il-BOV Studies Plus+ jappoġġja studenti jew professjonisti li jixtiequ jkomplu studji f’Malta jew barra fuq bażi full-time/part time jew permezz ta’ tagħlim mill-bogħod. Il-BOV Studies Plus+ jista’ jgħin biex jiffinanzja l-ispejjeż tal-akkomodazzjoni, tal-għajxien u tal-ivvjaġġar flimkien mal-miżati għat-tagħlim b’termini favorevoli ħafna.

Il-benefiċċji ta’ BOV Studies Plus+ jinkludu moratorju matul il-perjodu ta’ studju u sena oħra, li matulha l-istudent ma jħallas l-ebda imgħax, terminu ta’ ħlas lura itwal, l-ebda rekwiżiti ta’ kollateral u rata ta’ imgħax baxxa matul it-terminu li jifdal tas-self. L-imgħax fuq is-self matul il-perjodu tal-moratorju huwa sussidjat bis-sħiħ grazzi għall-fondi tal-UE li saru disponibbli mill-Awtorità Maniġerjali permezz tas-sieħeb implimentattiv tagħha l-Bank Malti għall-Iżvilupp.

Kenneth Farrugia, Chief Retail Banking Officer tal-Bank of Valletta ffirma l-ftehim maċ-Chairman tal-Malta Development Bank, Prof Josef Bonnici fil-preżenza taċ-Chairman tal-BOV Dr Gordon Cordina, l-Onor. Dr Stefan Zrinzo Azzopardi, Segretarju Parlamentari għall-Fondi Ewropej u Ministri l-Onor. Silvio Schembri, Ministru għall-Ekonomija, Investiment u Intrapriżi żghar, u l-Onor Dr Clifton Grima, Ministru tal-Edukazzjoni u Sport ‘L-edukazzjoni hija għodda vitali u l-istudenti kollha għandhom ikunu jistgħu jaċċessaw u jiffinanzjaw l-edukazzjoni għolja tagħhom hekk kif jipproċedu fil-vjaġġ uniku tal-ħajja tagħhom,’ qal iċ-Chairman tal-BOV. ‘Il-Bank of Valletta huwa kburi li ntgħażel mill-Bank Malti għall-Iżvilupp biex jimplimenta l-akbar fond għall-finanzjament tal-istudenti sal-lum, b’rati saħansitra aħjar minn edizzjonijiet preċedenti. Il-BOV Studies Plus+ huwa mfassal biex jagħti lill-istudenti l’kunfidenza fid-deċiżjonijiet li qed jieħdu biex jippjanaw u jħallsu għall-edukazzjoni għolja li min-naħa tagħha se tagħti mobilità ekonomika u tmexxi ‘l quddiem il-ġenerazzjonijiet li ġejjin.’

‘Il-kollaborazzjoni tal-Bank Malti għall-Iżvilupp mal-Bank of Valletta diġà pprovdiet €9 miljun tul dawn l-aħħar sentejn u €15-il miljun oħra se jkunu disponibbli għal studenti u professjonisti li jfittxu li jimmassimizzaw il-potenzjal tagħhom,’ qal il-Prof Bonnici. ‘L-appell qawwi ta’ dan il-finanzjament xprunana biex infittxu aktar finanzjament mill-Fond Soċjali Ewropew (FSE) li jippermetti lill-istudenti jiksbu aktar suċċessi fil-ħajja personali u professjonali tagħhom u jkollhom rwol importanti fl-irkupru ekonomiku ta’ Malta wara l-pandemija.’

‘Dan huwa investiment ieħor mill-fondi tal-Unjoni Ewropea lejn l-edukazzjoni u l-iffaċilitar ta’ finanzjament li jiggarantixxi investimenti sostenibbli fit-tul għall-pajjiż,’ qal Dr Zrinzo Azzopardi. ‘Din l-iskema ta’ bosta miljuni ta’ ewro se toffri liż-żgħażagħ tagħna u anke lill-istudenti anzjani tagħna aktar opportunitajiet biex jiżviluppaw il-ħiliet tagħhom u jiksbu l-impjieg mixtieq tagħhom bil-pajjiż jibbenefika mill-ħiliet u r-riżorsi addizzjonali tagħhom.’
Il-BOV Studies Plus+ (Further Studies Made Affordable Plus Financial Instrument) huwa appoġġjat mill-Programm Operattiv II, ko-finanzjat mill-Fond Soċjali Ewropew u mmexxi mill-Bank Malti għall-Iżvilupp.

Aktar informazzjoni tista’ tinstab fuq https://www.bov.com/content/bov-studies-plus-plus. Biex japplika wieħed għandu jiffissa appuntament ma’ Fergħa tal-BOV permezz ta’ https://www.bov.com/Assistants/set-an-appointment jew billi jibgħat email fuq customercare@bov.com.

Read More

12 June 2024

InvestEU: EIF – Malta Development Bank agreement to mobilise around €44 million in investments in sustainable and creative projects

06 June 2024

Meeting with the Malta Developers’ Association

07 May 2024

Good governance is a priority for the MDB and the NAO

29 April 2024

€623 million in cumulative financial support from the MDB

16 April 2024

MDB committed to forge stronger ties with the two leading trade related chambers

08 April 2024

MDB hosts Shadow Minister for Finance Graham Bencini

14 March 2024

The Malta Development Bank and the European Investment Bank Group are natural partners to facilitate the island’s economic transformation process

05 March 2024

MDB puts strategic partnership with business associations and trade unions to the fore

27 February 2024

MDB brings together key stakeholders from the commercial banking sector to foster a strategic dialogue and step up collaboration 

03 February 2024

Malta Development Bank – European Court of Auditors Meeting: Upgrading of InvestEU status discussed

30 January 2024

MDB strengthens ability to finance green projects through EIB’s Green Gateway support

16 January 2024

MDB celebrates milestone as loans for further education exceed €20 million

27 December 2023

New Chairman and Directors appointed at the Malta Development Bank

14 November 2023

Malta: €30 million from the EIB to MDB to accelerate the green transition

04 September 2023

Malta Development Bank unveils new website showcasing schemes and opportunities

27 June 2023

Malta Development Bank strengthens support to SMEs with signing of agreements with BOV, HSBC and APS

03 May 2023

MDB plays crucial role in facilitating access to finance and unlocking businesses investment​

08 February 2023

FSMA+: 430 students continue their studies through €15m financing from MDB Schemes​

14 December 2022

Commission approves State aid to support MDB’s remit until December 2027

23 November 2022

Malta launches two favourable financing schemes to facilitate €180 investment in economy​

28 October 2022

Malta Development Bank hosts 30 promotional banks for the ELTI General Assembly 2022​

14 October 2022

Skema ġdida ‘Go-To-Market’ b’aktar minn €1.5M f’fondi kapitali biex jitwettqu proġetti tal-R&I​​

07 July 2022

MDB appoints new Chief Executive Officer​

14 June 2022

MDB launches €150 million emergency liquidity support to businesses in response to the Ukraine crisis​ ​

19 May 2022

MDB launches first support measure in response to the Ukraine crisis​

10 May 2022

MDB publishes its 2021 Annual Report​

30 April 2022

​MDB supporting SMEs through new schemes​

31 January 2022

MDB extends COVID-19 Guarantee Scheme until June 2022​​​

19 October 2021

MDB COVID-19 Guarantee Scheme extended until 31 December 2021​​

24 August 2021

MDB to launch a new EU funded scheme for students​

04 August 2021

MDB’s impact on the ground exceeds half a billion euro since inception​

26 May 2021

MDB’s COVID-19 Guarantee Scheme reaches 40,000 employees​

28 April 2021

The Malta Development Bank publishes its 2020 Annual Report

26 March 2021

MDB and MEA to collaborate further for the benefit of local businesses​​

04 December 2020

BOV Studies Plus+ Fund to increase to €8,250,000 with European Funds​​

23 September 2020

MDB reaches agreement with BOV for delivery of Small Loans Guarantee Scheme

09 August 2020

MDB Facilitates SME Access to Liquidity​

18 July 2020

MDB Provides Lifeline to over 250 Businesses​​

27 April 2020

The Malta Development Bank publishes its second Annual Report​​

22 April 2020

MDB appointed implementing body of COVID-19 Interest Rate Subsidy Scheme​

03 April 2020

MDB launched COVID-19 Guarantee Scheme

26 July 2019

MDB and KfW Group Establish Cooperation for SME Financing

18 April 2019

The Malta Development Bank publishes its first Annual Report