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MT 25 September 2016

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44 Events maltatoday, SUNDAY, 25 SEPTEMBER 2016 EIF and Banif Bank sign €6 million guarantee agreement THE European Investment Fund, part of the European Investment Bank Group, and Banif Bank (Malta) have signed an agreement intended to support SMEs, pro- viding €6 million of new loans to SMEs in Malta, until end 2019. This is one of the two SME Initiative transactions signed in Malta, which in total, will gen- erate more than €65 million of loans, supporting over 800 Mal- tese companies. The agreement with Banif aims to facilitate access to finance for Maltese SMEs by enabling the bank to lower the interest rates and reduce collateral require- ments. This transaction is ex- pected to benefit more than 60 SMEs and start-ups in need of finance. SME Initiative Malta is a joint financial instrument of the Euro- pean Commission, the EIB Group and the Government of Malta and aims to stimulate SME financing by providing partial risk cover for SME loan portfolios originated by financial entities. Alongside EU Structural and In- vestment Funds (ESIF) resources contributed by the Government of Malta, SME Initiative Malta is co-funded by the European Union through Horizon 2020 resources as well as EIB Group resources. "I am pleased to be supporting this signature in Malta under the SME Initiative. In collaboration with Banif Bank, I am convinced that together we will be able to reach out to many Maltese SMEs in need of finance. This new agreement is the result of an ex- cellent collaboration between the EIB Group, Maltese authorities, EC and the banks," EIB Vice- President, Dario Scannapieco said. Joaquim F. Silva Pinto, Banif Bank CEO said" "As an estab- lished core systemic bank Banif will continue to contribute sig- nificantly to the local economy, by offering credit facilities to business to support the different stages of their operations – from setting up to their development and growth. Our new agreement and collaboration with EIF means we are more than ever before in a strong position to offer entre- preneurs and businesses loans requiring minimal collateral and with advantageous rates. "Our new product 'Banif Busi- ness Accelerate' will be doing just this. We would like to thank the Ministry for European Af- fairs and the Implementation of the Electoral Manifesto for this opportunity and for being an ef- fective catalyst for nurturing the continual growth of Maltese busi- nesses." Deputy Prime Minister Louis Grech said the initiative, which complements other existing fa- cilities in Malta, was yet another building block that will continue to contribute to the growing im- petus of economic progress that the Maltese economy is experi- encing. "It also provides a unique opportunity for European citi- zens to relate to the Union and demonstrates the benefits of EU membership." Continuing on the same lines, Dr Ian Borg, Parliamentary Sec- retary for EU Funds and 2017 Presidency, said experience had shown that the business commu- nity has understood that financial instruments contribute towards improving business productivity while creating a spill over effect within the economy. "The imple- mentation of the SME Initiative through another Financial In- termediary, Banif Bank, augurs well to continue assisting SMEs through bank loans at a lower costs in order to enhance their operations and their investment capabilities." From left: Joaquim F Silva Pinto, Pier Luigi Gilibert exchange instruments of accord, with Ian Borg and Louis Grech behind them APS to provide low-cost loans under Juncker Investment Plan THE European Investment Fund (EIF) and APS Bank Limited (APS) have signed the first SME financing agreement in Malta under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The agreement will allow APS to provide low-cost loans to in- novative SMEs in Malta over the next two years. EIF's guarantee is provided under the "EU In- novFin finance for Innovators" initiative with the financial backing under Horizon 2020, the EU Framework Programme for Research and Innovation. The agreement would not have been possible so soon without the backing of the Investment Plan. This deal is the first activ- ity under the Investment Plan for Europe in Malta. Just over a year after the European Fund for Strategic Investments began op- erating to boost jobs and growth in the EU, the Plan now spans 27 EU countries. Karmenu Vella, European Commissioner for Environment, Maritime Affairs and Fisheries, said: "I am delighted to see Mal- ta benefitting from the Juncker Investment Plan for the very first time. Thanks to this new agreement between the EIF and APS which is guaranteed under the Investment Plan, innovative Maltese businesses have access to €12 million in fresh loans. SME financing under the In- vestment Plan has proven to be a great success over the past year so I am very proud that Malta is now on board. I look forward to hearing of more Maltese com- panies applying for financing under the EFSI, for example to invest in maritime tourism and the environment." Marcel Cassar, CEO of APS Bank, said: "We are proud to be associated with the European Investment Fund in bringing this programme to the Maltese SME sector. APS Bank has a history of supporting innova- tion and enterprise of small and medium-sized firms and our in- volvement in facilitating their access to finance will be stepped up going forward." Marcel Cassar (left) and Pier Luigi Giliberti (right) Fritz Energy invests in the specialisation of their employees IN any sector of work, the learning and development aspect of the job must always be carried out with care and vigilance. The world of en- gineering is no exception; it is only with the appropriate knowledge and specialisation that a company can be confident enough to provide its client with a suitable service and a high quality product. In light of this, Fritz Energy sent one of its engineers, Samuel Mamo, for special training regarding the installation and commissioning of Gilbarco distributers for specialisa- tion of fuel dispensers. Training was provided on Vapor Recovery and Monitoring: Hydraulics and Elec- tronics Training in Salzkotten, Ger- many, with the aim of helping those present understand the dispenser as a machine with its various constitu- ents in its whole entirety. Fritz Energy is the local distributor for the international brand Gilbarco Veeder-Root. The training provided by Gilbarco themselves enables lo- cal representatives to better under- stand what service and product is being offered, as well as understand how to utilise such possibilities to the best of their abilities. Fritz Energy feels that such train- ing programmes are essential if the company aims to keep itself updated with the latest related technologies within the market. For more information about the services offered by Fritz Energy and Gilbarco Veeder-Root products, you can visit www.FritzEngery.com, send an e-mail to rbusuttil@Fritz- Energy.com or call on +356 7979 7055 Atlas to support Pink October motorcycle ride for second year ATLAS plans to go even pinker this year by supporting Pink Oc- tober for the second year running. This year Atlas will be sponsoring the Motorcycle Ride again which will take place on Sunday 2 Octo- ber. The aim of Pink October is to raise money to facilitate treatment and research into breast cancer as well as to generate awareness about this illness. The ride will commence at Gold- en Bay, with the bikers making their way to the Ta' Xbiex Marina, opposite the Atlas Head Office where the bikes will be displayed and food and drinks stalls will be set up. The bikers will arrive at ap- proximately 10.30am. To keep within the Pink Octo- ber theme, Atlas will be handing out vouchers for reduced cost mammograms at St. James Hos- pital. Atlas will also be distribut- ing freebies, balloons for children and food and drink vouchers so make sure to look out for the Atlas stand! "We encourage you to attend and make a donation to this wor- thy cause," said Jackie Attard Montalto, Marketing and HR Manager. "Also, the bikes will be on display, and with hundreds of participants, it will be quite an ex- hibition. So do come and enjoy the pink atmosphere!" Commenting on Atlas Insur- ance's support for the Pink Octo- ber Motorcycle Ride, JPA Director and initiator of the Pink October campaign, Adrian Fabri said that, "we are proud to be associated with one of the leading insurance companies in Malta, which has committed itself to support the Pink October cause for the second consecutive year. Our associa- tion with the corporate sector has helped us to increase the aware- ness about the importance of liv- ing a healthy lifestyle, do regular check-ups and raise funds in aid of breast cancer research and equip- ment. Throughout October, pink ini- tiatives will continue with Atlas staff wearing pink t-shirts to remind clients to donate to the cause.

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