Issue link: https://maltatoday.uberflip.com/i/1226904
maltatoday | SUNDAY • 29 MARCH 2020 10 COMMERCIAL BANK of Valletta is highly con- scious of the difficulties that businesses are facing in the cur- rent Covid-19 scenario. Reaf- firming its strong commitment to continue extending its sup- port in these challenging times, Bank of Valletta has increased its 'Business Assist' fund from €10 million to €20 million. The Bank has been proactive in meeting customers' demands in these challenging times. The first tranche of €10 million has already been allocated to assist businesses, mainly micro and small business SMEs, in their working capital requirements. Bank of Valletta is committed to introduce further measures in the coming days to ensure that liquidity continues to flow in the market. Such measures could in- clude potential further increas- es to this fund dependent upon how the situation and require- ments continue to evolve. The 'Business Assist' fund provides direct working capital to support business customers facing cash flow issues. Each case is analysed on its own merits and subject to credit assessment and the maximum loan per business customer may not exceed €500,000. This will ensure that these funds are made available to as many business customers as possible. Apart from the €20 million fund, Bank of Valletta has a number of other measures aimed at providing support to businesses such as: • Interest will be charged in June instead of March; • Capital repayment holidays ranging between three and twelve months; • Ease of trade finance ser- vices via internet banking at no additional cost and • Provision of direct working capital for customers facing short term cash flow issues. Offered on a case-by-case basis, solutions are tailored according to the particular cir- cumstances of each business customer. Other initiatives for assistance may be considered depending on the particular exigencies of the business cus- tomer. Business customers are re- quested to contact their Re- lationship Manager who will provide them with additional information on how Bank of Valletta can assist their busi- ness. Contact details of the BOV Business Centres can be found on https://www.bov. com/content/assist. The Bank is continuously monitoring the situation and will continue to introduce measure to support the local business community. Bank of Valletta increases its 'Business Assist' fund to €20 million ONLINE learning activity at MCAST is on the increase, with lecturing staff en- gaged on a regular basis with students. Since the temporary closure of all edu- cational institutions announced on 12 March, MCAST staff have embarked on several efforts to ensure the least disrup- tion possible to learning provision. Over the past two weeks, lecturers continued to keep in contact with stu- dents through the five available plat- forms that the College offers. During a meeting between MCAST Management and the Malta Union of Teachers, the need for students to en- gage with online learning provision was highlighted. The online learning landscape offers many possibilities during a time of cri- sis, but this is not without difficulties. MCAST Principal James Joachim Calleja emphasised the urgency to ad- dress the needs of learners who may be facing accessibility issues. He also urged students to participate actively and lecturers to approach the manage- ment of each Institute for support and assistance. "Technology today offers the oppor- tunity to fight the challenging situation that COVID-19 has created through platforms of communication which we must use to keep in touch with one an- other but more importantly to maxim- ise the learning experience." MCAST is communicating with its community through different channels and is sending regular updates through its website and social media while also emphasising the importance of reach- ing out to Student Support Services to ensure student wellbeing. Students can engage with online learning through the MCAST website: https://www.mcast.edu.mt/e-learning/ MCAST urges students to make use of online learning opportunities