“More than half a billion in support linked with COVID-19 Pandemic and the war in Ukraine” – Leo Brincat, Chairperson Malta Development Bank.
The Malta Development Bank (MDB) launched its 2023 Annual Report during a business breakfast and unveiled its Business Strategy in the presence of the Minister for Finance Hon. Clyde Caruana and key stakeholders.
In his speech and annual report statement, Chairperson Mr. Leo Brincat announced that the Bank had offered €623 million in cumulative financial support, with more than half a billion euro in support linked to the COVID-19 Pandemic and the war in Ukraine.
He said that the new Business Strategy is designed to address the key challenges, opportunities and priorities of the Bank for the coming years. While the Bank is developing new schemes to encourage innovative business ventures, in alignment with public policy, we are also focusing on reducing financing gaps associated with digitalisation, innovation, research and climate change.
The Bank’s Chief Executive Officer, Mr Paul V. Azzopardi stated that “During the first six years of operations, the Bank sanctioned 1,363 facilities to 1,272 businesses and students. Moreover, for the second time, I am also pleased to report a profit before provisions for 2023 of €3.8 million compared to €1.2 million in 2022.”
In 2023, the MDB’s efforts were devoted to the promotion of the Bank’s flagship schemes for SMEs and students, Mr Azzopardi said. As at end-2023, the total cumulative assistance, in terms of both direct and guaranteed loans, reached €623.3 million, largely reflecting the exceptional role played by the Bank during the Pandemic.
When compared to end December 2022, MDB’s assistance rose by €41.5 million. The latter, reflects assistance in terms of increased access to finance for new investment, higher liquidity support as part of the measures in response to the war in Ukraine, as well as an increase in guaranteed soft loans to students. The MDB Annual Report 2023 can be accessed HERE, while the Business Strategy is available HERE.
€623 miljun f’għajnuna finanzjarja kumplessiva mill-MDB
“Bejn l-appoġġ fi żmien il-pandemija tal-COVID-19 u l-gwerra fl-Ukrajna, l-MDB ipprovda appoġġ ta’ aktar minn nofs biljun ewro” – Leo Brincat, Chairperson tal-Malta Development Bank
Il-Malta Development Bank (MDB) nieda r-Rapport Annwali 2023 u ħabbar l-Istrateġija Kummerċjali tiegħu waqt business breakfast fil-preżenza tal-Ministru tal-Finanzi, l-Onor. Clyde Caruana, u msieħba ewlenin.
Fid-diskors tiegħu u fl-introduzzjoni għar-rapport annwali, iċ-Chairperson is-Sur Leo Brincat ħabbar li l-Bank kien ipprovda €623 miljun f’għajnuna finanzjarja kumplessiva, b’aktar minn nofs biljun ewro jmur f’appoġġ marbut mal-pandemija tal-COVID-19 u l-gwerra fl-Ukrajna.
Huwa qal li din l-Istrateġija Kummerċjali tfasslet b’mod li tindirizza l-isfidi, opportunitajiet u prioritajiet tal-Bank għas-snin li ġejjin. Filwaqt li l-Bank qed jiżviluppa skemi ġodda biex iħeġġeġ investimenti kummerċjali innovattivi, f’konformità mal-politika pubblika, qed nindirizzaw in-nuqqasijiet fil-finanzjament assoċjati mad-diġitalizzazzjoni, l-innovazzjoni, ir-riċerka u l-bidla fil-klima.
Il-Kap Eżekuttiv tal-Bank, is-Sur Paul V. Azzopardi qal li “matul l-ewwel sitt snin ta’ operat, il-Bank approva 1,363 faċilità lil 1,272 negozju u student. Aktar minn hekk, għat-tieni darba, għandi l-unur li nirrapporta profitt qabel il-provvedimenti għall-2023 ta’ €3.8 miljun meta mqabbel ma’ €1.2 miljun fl-2022.”
Fl-2023, l-isforzi tal-MDB kienu ffukati fuq il-promozzjoni tal-iskemi ewlenin tal-Bank għall-SMEs u l-istudenti, qal is-Sur Azzopardi. Sal-aħħar tal-2023, l-għajnuna kumplessiva totali, kemm f’self dirett kif ukoll garanziji, laħħaq €623.3 miljun, li jirrifletti primarjament ir-rwol eċċezzjonali tal-Bank waqt il-pandemija.
Meta mqabbel mal-aħħar ta’ Diċembru 2022, l-għajnuna tal-MDB żdiedet b’€41.5 miljun. Dan jirrifletti assistenza f’termini ta’ aċċess akbar għal finanzjament għal investiment ġdid, appoġġ ikbar għal-likwidità bħala parti minn miżuri b’rispons għall-gwerra fl-Ukrajna, kif ukoll żieda fis-soft loans garantiti għall-istudenti. Ir-Rapport Annwali tal-MDB 2023 hu disponibbli HAWN, filwaqt li l-Istrateġija Kummerċjali hi aċċessibbli HAWN.