Issue link: https://maltatoday.uberflip.com/i/1507175
4 NEWS 7.9.2023 GO has announced that 75% of house- holds and 80% of businesses can today enjoy super-fast internet speeds thanks to its True Fibre network. By the end of this eight-year project, GO will have invested over €100 million in delivering the fastest possible broadband speeds technology has to offer, which is set to future-proof our homes, businesses, and communities for the next 100 years. Addressing a press conference in Luqa, one of the localities fully covered with True Fibre, GO's Chief Executive Officer Nikhil Patil noted how this pro- ject potentially stands to go down as GO's largest national project to date and confirms GO's position as one of the largest investors in Malta digital in- frastructure. "Our reliance on the Internet will continue to grow in ways we can't pre- dict today. But what we can do today is have access to a network that can han- dle our digital ambitions for the next 100 years," explained Patil. "True Fibre is the answer. GO is the only operator that has invested so heavily to bring True Fibre right into our homes and businesses – a network that enables life to happen at the speed of light. Nothing travels faster than the speed of light," he continued. "Our True Fibre network project com- menced in 2016 and notwithstanding the challenges, has been proceeding at a very good rate. To date, over 267,000 homes are now covered by our True Fibre network. is means that 75% of households and 80% of businesses are enjoying the best technology science has to offer," Patil said. "We are now well set to complete roll-out by the end of 2024, ahead of schedule." Addressing the press conference, Sil- vio Schembri, Minister for Economy, EU Funds and Lands said this mile- stone is a significant one for GO and the country. "is milestone puts Malta well above the EU average in terms of national cov- erage and well placed to be at the top of the EU leaderboard to reach full nation- wide fibre coverage by the end of 2024. As a result of GO's investment in this True Fibre network and in the country, businesses today have the flexibility to operate any place, any time, with in- creased efficiency. Such an investment and commitment to the country only serves to increase our country's com- petitive edge and contributes to our long-term sustainability," he said. GO's €100 million True Fibre network to reach 100% of the island by 2024 Malta Development Bank unveils new website VON der Heyden Group sent in this statement in reply to an article in last week's edition of BusinessToday titled " Von der Heyden unsecured notes issue raises questions after 2022 €35 million bond issue": e Von der Heyden Group refutes the apparent inference that the recently approved unsecured notes are being is- sued in order to pay the interest due in December on the current bonds in issue and this on two grounds: (1) e Unsecured Notes Prospectus is available for review on the investors section at vdhgroup.com and this clear- ly states the purpose of the new issue, principally relates to therefinancing of the renovation works at Villa Dioda- ti in Tuscany, earmarked to open next year as a boutique hotel ona 2,000m es- tate. is storied hillside villa in Lucca perfectly aligns with the Group's Cugó Gran hospitality brand, providing an exclusive touch in a new market. e Group has a real estate development track record for high-end finishes and quality, and in turn has achieved record prices for its award-winning projects when sold. Its international roots and local presence, have played a pivotal role in the Group's consistent growth, even during economic downturns. (2) In addition, a review of the recently published interim financial statements of the Von der Heyden Group Finance plc clearly indicates that, even prior to the issue of the Unsecured Notes, the fi- nance company already has in cash re- serve the interest payment that is due to the bondholders in December this year. Notes issue: Von der Heyden Group statement THE Malta Development has launched its newly designed website, accessible on www.mdb.org.mt. e revamped website offers a comprehensive plat- form highlighting the bank's various financial instruments and initiatives, catering to a wide array of beneficiar- ies including large and small enter- prises, self-employed and students. e website serves as an interactive hub, presenting a range of initiatives aimed at fostering economic growth, supporting innovation, digitalisation and environmental sustainability. With an emphasis on user-friendliness and accessibility, visitors can easily navigate through the bank's offerings, gaining insights into how they can benefit from the available opportuni- ties. "e launch of the new website marks a significant step forward in our commitment to facilitating the growth and development of diverse segments within our community," CEO Paul V Azzopardi said. He added that "From established businesses to aspiring en- trepreneurs and students, our schemes are designed to bridge market needs, particularly when traditional cred- it institutions are unable to carry the risk of financing on their own. is is particularly the case for investment in new and innovative economic niches which, at the same time, are funda- mental for Malta's renewed growth." e platform not only showcases the latest developments and information but also acts as a valuable resource centre, guiding users through the ap- plication processes and eligibility cri- teria for each scheme. Businesses in diverse economic sec- tors can stand to benefit from these opportunities. In less than six years of its existence, the MDB has supported more than 700 businesses which employ some 40,000 persons, and more than 470 students, by facilitating over €600 million in fa- vourable financing. For more information about the Mal- ta Development Bank and its schemes, visit www.mdb.org.mt.