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

The upgrading of the Malta Development Bank’s InvestEU status to that of an Implementing Partner was discussed during a meeting at the Malta Development Bank. MDB Chairman Leo Brincat and its officials hosted at their Floriana offices Dr George M Hyzler, the Maltese Member of the European Court of Auditors and his Cabinet.

Mr Brincat explained that this can materialise once the Bank completes successfully the Pillar Assessment, an extensive European Commission audit that should be concluded imminently.

During the same meeting Mr Brincat stressed the Bank’s commitment to adhere to best European practices, as commended by the National Audit Office in their assessment of the Bank’s COVID-19 Guarantee Scheme.

He stated further that “The Bank wanted to make best use of EU funding opportunities to effectively position itself as businesses’ gateway to finance.”

The MDB made it clear that while it fully understood that it was ECA’s task to audit and monitor the implementation of the EU’s €800bn Recovery Fund, on its part the Bank considered it part of its mission to serve as an important vehicle for Malta’s socio-economic and environmental transformation towards the Green and Digital paths set out in the same Recovery Fund.

While the ECA Work Plan 2024 includes focus on State Aid applications in times of crisis, particularly both during the COVID-19 pandemic and the war in Ukraine, the MDB explained how it had issued a number of successful financial instruments linked to both crises.


Laqgħa Bank Malti għall-Iżvilupp – Qorti Ewropea tal-Awdituri: Diskuss ir-Rwol ikbar għall-Bank fl-InvestEU

Il-ħidma tal-Bank Malti għall-Iżvilupp biex ikun approvat bħala Msieħeb Implimentattiv tal-InvestEU kien diskuss waqt laqgħa li ċ-Chairman tal-Bank Malti għall-Iżvilupp Leo Brincat u l-uffiċjali tal-Bank kellhom fl-uffiċċji tal-MDB fil-Floriana ma’ Dr George M Hyzler, il-Membru Malti fil-Qorti Ewropea tal-Awdituri u l-Kabinett tiegħu.

Is-Sur Brincat spjega kif dan jista’ jseħħ la darba l-Bank itemm b’suċċess il-Pillar Assessment, kif inhu magħruf l-awditjar estensiv tal-Kummissjoni Ewropea li wasal fil-fażijiet finali tiegħu.

Waqt l-istess laqgħa, is-Sur Brincat enfasizza l-impenn tal-Bank li jaderixxi mal-aqwa prattiċi Ewropej, kif anke kien innutat b’mod pożittiv mill-Uffiċċju Nazzjonali tal-Verifika fl-evalwazzjoni li saret tal-Iskema ta’ Garanzij tal-COVID-19 imħaddma mill-MDB.

Huwa żied jgħid li “l-Bank ried jagħmel l-aqwa użu ta’ opportunitajiet ta’ finanzjament tal-UE biex ikun jista’ jservi ta’ punt ewlieni ta’ aċċess għall-finanzjament għan-negozji”.

L-MDB għamilha ċara li filwaqt li jifhem li hu r-rwol tal-ECA li jawditja u jimmonitorja l-implimentazzjoni tal-Fond ta’ Rkupru tal-UE ta’ €800bn, min-naħa tiegħu l-Bank jikkunsidra bħala parti mill-missjoni tiegħu li jservi ta’ aġent importanti għat-trasformazzjoni soċjo-ekonomika u ambjentali permezz tal-istrateġiji ambjentali u diġitali stipulat fl-istess Fond ta’ Rkupru.

Filwaqt li l-Pjan ta’ Ħidma tal-ECA 2024 jinkludi enfasi fuq l-applikazzjonijiet ta’ Għajnuna tal-Istat fi żminijiet ta’ kriżi, partikolarment waqt il-pandemija tal-COVID-19 u l-gwerra fl-Ukrajna, l-MDB spjega li kien ħareġ numru ta’ strumenti finanzjarji b’suċċess marbuta maż-żewġ kriżijiet.

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 

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​

08 February 2022

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

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