Issue link: https://maltatoday.uberflip.com/i/1351945
4 NEWS 18.3.2021 MDB and MEA reach agreement to col- laborate further for the benefit of local businesses e Malta Development Bank (MDB) and the Malta Employers Association (MEA) have signed a Memorandum of Understanding strengthening the rela- tionship between the two institutions and allowing the two sides to intensify their collaboration, exchange of infor- mation and mutual promotion through their respective fora. e agreement was signed by MEA's Director General Joseph Farrugia and MDB Deputy Chief Executive Officer Paul V. Azzopardi on behalf of the Bank's Chairman, Prof Josef Bonnici. In particular, the agreement will en- sure increased awareness among MEA members of the various schemes availa- ble through the MDB which are intend- ed to support business development and growth through advantageous fi- nancing rates and reduced collateral re- quirements and finance costs. rough the digital tool MEAINDEX, MDB will joining 12 other institutions which are collaborating with the As- sociation on this project. is digital platform is followed by over 38,000 entrepreneur and serves as an effective communication tool between those in- stitutions which form part of the com- mercial ecosystem and some 56,000 employers which are responsible for some 200,000 jobs in our country. is relationship assumes stronger relevance in the current scenario where businesses are seeking to balance out their survival needs following the dev- astating impact of the pandemic, while at the same time chartering their course for the future. e MDB has also sought to ensure that the delicate balance be- tween the two objectives is sought. Following the onset of the health cri- sis in 2020, it swiftly redirected its sup- port to fight the COVID-19 pandemic and its economic consequences. Over the last 10 months, through the Cov- id-19 Guarantee Scheme, the MDB has helped in delivering €420 million of crit- ical support, with close to 550 facilities provided to businesses, which together employ more than 30,000 persons. wAt the same time, the Bank is posi- tioning itself as a driver of economic regeneration by targeting those busi- nesses planning new capital investment projects by providing easier access to finance through the intermediation of private banks. An essential element of the MDB's work is to continuously monitor and ensure that its portfolio of schemes and instruments mirror the needs of the market they are meant to address. In this context, a stronger relationship with Malta's main body representing employers, will ensure a constant two- way feedback, providing the Bank with an ongoing evaluation, strengthening its role as a go-between the banking sector and the business community. MDB Deputy CEO Paul V. Azzopar- di highlighted the importance of such agreements: "Access to finance is a crit- ical determinant for the development of enterprises, in particular SMEs, which tend to have limited access to capital markets. rough this enhanced rela- tionship with the MEA we will ensure that more entrepreneurs are able to become aware of the financing oppor- tunities available to them. is will strengthen our efforts to support the regeneration of the Maltese economy in the months ahead." MEA Director General Joseph Far- rugia said that with the signing of this agreement, the MEA, during these challenging times of the pandemic, would continue to help its members not to give up, but to continue investing and look forward with optimism. "We are encouraging our members to plan objective business plans, knowing that where they need financial support, they will receive the backing of the MDB. Our role is to provide the nec- essary support both to our members as well as to those institutions which are offering schemes and other support measures. Farrugia also thanked the Chairman, Directors and officials at MDB for the trust shown in the MEA and the MEA- Index digital platform. e MEA is confident that this agree- ment will yield the desired results and will be another important tool in its efforts to facilitate information to busi- nesses, and in this case, through this agreement with the MDB, to facilitate access to finance even for investment in research and innovation. MEA Director General Joseph Farrugia with MDB Deputy CEO Paul V. Azzopardi MDB and MEA agree to ramp up cooperation for the benefit of local businesses LEARNING Works, Vassallo Group's Education Arm launched a 'Women in Leadership' programme on Internation- al Women's Day at the Learning Works Training Hub, e Landmark in Qormi. Vassallo Group's long standing tradi- tion to celebrate women's day by host- ing a lunch event for over a 100 women was not possible this year due to the pandemic, however the launch of this programme was a great way to celebrate women. Vassallo Group Chairman Nazzareno Vassallo, Vassallo Group CEO Pio Vas- sallo and CareMalta CEO Natalie Briffa Farrugia who are all on the Board of Di- rectors of Learning Works were present for this launch. Claire Agius Ordway, compering the event, introduced guest speakers who delivered their message through video conferencing to the 20 participants who joined this course. Sandra Hermitage, an expert in Man- agement and Coaching will be the lec- turer for this course. Due to a lockdown in the UK she could not be present therefore she spoke to the participants through a video mes- sage and later held the first online lec- ture live from the UK, delivering a very interesting interactive session. e session also included video mes- sages by two women who are current- ly occupying very important positions within the EU. Helena Dalli, European commission- er for Equality spoke about the aim for reaching a gender equal Europe. "Achieving gender balance in leader- ship is one of the main goals of our Gen- der Equality Strategy for 2020-2025," she said. She spoke about the efforts being made for "women to thrive and lead in all levels of our economies and society" as well as to reduce the gender pay gap. She also mentioned a proposal she presented for a new EU Directive on Pay Transparency with the aim of de- tecting gender pay discrimination and claim their right for equal pay. Roberta Metsola MEP, First Vice Pres- ident of the European Parliament said that gender has nothing to do with whether one is successful and able to implement ideas. It is only a person's capabilities that matter. She extended an invitation to all, to come up with ideas which can be dis- cussed in similar fora. She also encour- aging all to become leaders with a clear vision, supporting change. Natalie Briffa Farrugia said she be- lieves that behind every crisis there are new opportunities to keep developing and changing. She said Vassallo Group, celebrating its 75th Anniversary this year, started its journey after WOrld War II, clear- ing the roads from debris and building a better future. Charlo Bonnici, CEO of Learning Works, said Vassallo Group had spon- sored a number of its female to partici- pate in the programme. He said a number of new services are being made available to students in- cluding an improved library service as well as new VLE (Virtual Learning En- vironment) to cater for the present and future need of this growing education institution. ose interested in applying for the Autumn intake can get in touch on 79584200 to book a place. Learning Works launches 'Women in Leadership' programme on International Women's Day