€1.50
SMEs' interest in new
funding scheme sees
BoV, MDB planning
second programme
PAGE 5 INTERVIEW | PAGES 10 & 11
MASSIMO COSTA
LOCAL SMEs have shown keen in-
terest in a new multi-million euro
funding scheme launched by Bank
of Valletta and supported by Mal-
ta's development bank, with a sec-
ond bigger programme currently
being planned.
e scheme, which is a €50 mil-
lion kitty being made available by
BOV to small and medium enter-
prises at an advantageous rates of
interest, was an initiative of the
Malta Development Bank (MDB),
proposed to address gaps in the
fi nancial support given to SMEs,
MDB chairman Josef Bonnici told
BusinessToday.
BOV and the MDB signed an
agreement for the new loan facility
for businesses on Monday, with the
scheme being available for loans
taken out by SMEs for capital pro-
jects at a minimum of €200,000 and
a maximum of €750,000, with an
interest rate of 3.5%.
MDB is supporting the scheme
by providing a guarantee of up to
€10 million. e maturity of loans
issued under the scheme will be at
a maximum of 10 years.
MIA registers record
€30.3 million profit,
13.2% rise in passenger
movement in 2018
Malta Developers'
Association head
Sandro Chetcuti
on what makes the
industry tick
PAGE 2 PAGE 3
Prof
Josef
Bonnici
With tech companies facing
di culties to open bank accounts,
Joseph Muscat says new entrants in
the sector could provide solutions
THURSDAY 16 MAY 2019 • ISSUE 8
WWW.BUSINESSTODAY.COM.MT
New market
players could
unblock banking
problems faced by
tech companies –
Prime Minister