Issue link: https://maltatoday.uberflip.com/i/1242417
30.04.2020 2 NEWS MASSIMO COSTA BANKS must not reject company project loans with- out good reason, the Malta Chamber of Commerce has said, as it warned that many businesses had very little li- quidity left. Earlier this month, the Cen- tral Bank ordered local banks to grant a six-month morato- rium on existing loan repay- ments, with interest being ac- crued not capitalised. Questions have however been raised about wheth- er this amounts to sufficient breathing space for compa- nies which are struggling to cope with COVID-19's economic fallout, especially those which do not fall un- der the government's Annex A and B schemes for financial aid. Asked whether banks should endeavour to do more to help companies, a spokesperson for the Malta Chamber told BusinessToday that the bank- ing system must ensure that liquidity reaches businesses, while keeping the cost of bor- rowing low. "Banks should not unnec- essarily withhold loans for projects. Most companies are operating with a few months of liquidity, so timeliness with providing liquidity is of the essence," the spokesperson underlined. "Banks are encouraged to be flexible and align themselves with the short-term economic priorities and timeframes of business. The Chamber is sat- isfied, from its regular com- munication with the banks, about their intent to adopt a flexible approach." "On the other hand, banks are expected to filter this in- struction clearly across their branch network," he added. The spokesperson said that the Chamber appreciated the fact that banks' resources were not unlimited. "In fact, they are commensurate to the level of their depositors' funds, which they must pro- tect and are bound by strict regulation to do." Consequently, expectations from the banking system need to be realistic, since this could otherwise result in a danger- ous backlash," he highlighted. Don't hold back on company loans, Malta Chamber urges banks Chamber warns that most businesses are operating at the extremes of their liquidity PAUL COCKS THE Parliamentary Secretary for Fi- nancial Services and Digital Economy Clayton Bartolo yesterday launched the intake for the eBiznify programme. The eBiznify training programme is one of the initaitives under the eCom- merce National Strategy 2014 – 2020. Bartolo stressed the need for busi- ness, especially SMEs, to become pro- ficient in eCommerce during these uncertain times. "Last year, 58% of the Maltese popu- lation shopped online. With the out- break of COVID-19, we will surely see a spike this year in the number of peo- ple buying over the Internet," he said. "Therefore, we need to ensure that even small businesses can keep up with consumer demand. This pro- gramme will ensure the provision of necessary training to enhance the required digital skills" Parliamentary Secretary Bartolo stated." With a reputation for excellence since its launch in 2018, the eBiznify training programme develops valua- ble skills and provides insights on all aspects of eCommerce. This time round, the programme is being offered through a collaborative effort between the Malta Communi- cations Authority (MCA) and the eS- kills Malta Foundation. Participants attend for a series of modules via a dedicated eLearning platform sup- ported by guided online tutorials and peer-to –peer discussions. On successful completion of the eBiznify training programme, partic- ipants will be awarded an MQF certi- fied Level 4 course in digital business. Jesmond Bugeja, CEO of the Mal- ta Communications Authority said: "This is a time where digital skills need to be sharpened to ensure that the opportunities of eCommerce are exploited by local businesses". Carm Cachia, Chief Administrator at eSkills said that the involvement of eSkills Malta Foundation was a nat- ural transition towards growth and continued success of eBiznify, "This initiative directly contributes to the upskilling and skills develop- ment recommended in the National eSkills Strategy 2019-2021," he said. Those interested in following the eBiznify programm are invited to reg- ister online at www.ebiznify.com eBiznify training programme launched Carm Cachia, eSkills chiech administrator, Parliamentary Secretary Clayton Bartolo and MCA CEO Jesmond Bugeja