The Malta Chamber held an information session, together with Bank of Valletta (BOV) and Malta Development Bank (MDB) to discuss two schemes in support of SMEs and Family Businesses. This session was one of a series of events co-organised with BOV in view of the recently extended partnership agreement with the Malta Chamber.
The programme gave a detailed insight with relation to the latest financing opportunities available to Malta based SMEs. Special focus was dedicated to the BOV SME Invest and the BOV Family Business Success.
Both facilities are partly guaranteed by the MDB resulting in a benefit to the SMEs in the form of reduced collateral requirements and lower interest rates.
Joseph Darmanin and Maria Xuereb, Chief Officers from the Malta Development Bank (MDB) gave an overview of the role and functions of the MDB with particular focus on the MDB’s remit in supporting SMEs. They explained the rationale and design of the SME Invest and the Family Business Success and how such facilities fit within the mandate of the MDB.
Prof Josef Bonnici, Chairman, Malta Development Bank, concluded the session by remarking with satisfaction that just after 8 months of effective operations, the MDB is making an impact on the economy by rolling out its first two facilities to help enterprises prosper. With the MDB, Malta has a home-grown institution that provides a remedy for financial market gaps by designing financial instruments that are home-made and customised for the needs of the local economy. The MDB is also working on new programmes in areas where it identifies that there is a financial market gap and is looking forward to launching new facilities in the coming months.