Issue link: https://maltatoday.uberflip.com/i/1528241
8 maltatoday | WEDNESDAY • 23 OCTOBER 2024 BUSINESS THE Malta Development Bank (MDB) welcomed EIB Vice Pres- ident Kyriacos Kakouris for the official presentation of the Mar- ket Assessment and Recommen- dations Report under the Green Gateway Advisory initiative. This project, launched earlier this year, aims to fast-track cli- mate action and sustainability investments across Malta. With backing from the EIB Group, which also includes the European Investment Fund (EIF), the MDB is enhancing its capabilities to identify, sup- port, and finance green pro- jects. This collaboration bol- sters the MDB's role, aligning it with international standards and enabling the Bank to tap into emerging green market opportunities. The report is a key deliverable of the MDB's €30 million cli- mate-action operation, funded by the EIB, which is focused ex- clusively on green and sustain- able projects. In addition, the MDB is gearing up to introduce new schemes under the EIF In- vestEU Sustainability Guaran- tee, designed to further boost the green transition of Maltese SMEs and small mid-caps. The Green Gateway Report pinpoints critical sectors in Malta's economy ripe for green investment, particularly in cli- mate action and environmental sustainability. It also assesses the MDB's current portfolio, evaluating existing grant and financial products to highlight untapped investment potential. A central feature of the report is its detailed comparison of eligibility criteria across vari- ous EIB Group funding sourc- es. This ensures a streamlined funding strategy, maximising efficiency and the potential for combining multiple financing sources. As part of the evaluation, four green financing solutions were proposed for discussion, focusing on electric vehicles, energy-efficient buildings, re- newable energy, and waste management. "National promotional banks like the MDB in Malta are our key partners to back the eco- nomic growth of small and medium-sized companies and promote their green and digital transition," EIB Vice President Kyriacos Kakouris said. "The Green Gateway Advi- sory initiative marks a strate- gic milestone for the MDB. By adopting innovative financing solutions, and with the support of the EIB Group, the MDB is setting the stage for significant environmental progress that will help Malta meet its climate targets." Leo Brincat, Chairman of the MDB, said, "This partnership with the EIB enables us to take a leading role in advancing Malta's sustainability agenda. With their support, the MDB is well-equipped to drive trans- formative projects that will strengthen the nation's envi- ronmental resilience." Paul V. Azzopardi, CEO of the MDB, said this report is an- other step forward in enabling Malta's transition to a greener economy. "By fostering innovative fund- ing solutions, we are not only addressing the urgent chal- lenges of climate change but al- so ensuring sustainable growth for the country's businesses and communities," he said. GEORGE Mangion, Senior Partner at PKF Malta, was a distinguished panellist at this year's Milan Fin- tech Summit, an event that stands at the forefront of international in- novation in financial technology. This prestigious panel position was made possible through Fi- nanceMalta, recognising Man- gion's extensive experience and thought leadership within the fin- tech industry. Held in Milan, the heart of Ital- ian fintech, the Milan Fintech summit convened leading com- panies, industry experts, and in- fluential figures from both na- tional and international arenas to address the critical areas of the fintech landscape, fostering a widespread appreciation for fin- tech innovations and enhancing insights into the development of embedded finance. During a highly anticipat- ed roundtable discussion titled "What A Wonderful World", Mangion shared his expert in- sights on high potential markets and the lessons these can learn from leading fintech nations. The discussion also explored how diverse cultures and fintech ecosystems contribute uniquely to the global market, as well as strat- egies to attract companies and top talent to the fintech sector. Commenting about his partic- ipation in the summit, George Mangion said: "The Milan Fin- tech Summit is a crucial meeting point for discussing the future of finance, and it was an honour to contribute to its discourse on such a critical topic. Our partic- ipation underscores PKF Malta's mission and values. As a firm that thrives on professionalism and a commitment to service, we continually seek opportunities like these to enhance our under- standing and influence in sectors that align closely with our clients' evolving needs." PKF Malta Advisory Director Miriam Sultana, who also at- tended the summit said, "It was a well-rounded event that ad- dressed all facets of the fintech sector in Europe and beyond – from technology and the use of AI and big data to essential labour skills, employee retention, and the varying regulations across juris- dictions." Key points from the summit included the need for enhanced venture capital, digital, and block- chain skills within the fintech sector, the untapped potential of IPO structures, and the increas- ing integration of sustainability in banking. The summit also spot- lighted innovative software solu- tions. PKF Malta is a leading financial services firm dedicated to provid- ing comprehensive and tailored solutions to businesses. Backed by a team of experienced profession- als, PKF Malta offers audit, tax, advisory, and consulting services to clients across various indus- tries, with commitment to excel- lence and client success that sets is apart in the financial services industry. PKF Malta is a mem- ber of PKF Global, the network of member firms of PKF Interna- tional Limited. EIB Vice President Kakouris unveils Green Gateway report during MDB Visit PKF Malta senior partner featured at Milan Fintech Summit George Mangion, PKF Malta Senior Partner with PKF Malta Advisory Director Miriam Sultana