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€1.50 SMEs' interest in new funding scheme sees BoV, MDB planning second programme PAGE 5 INTERVIEW | PAGES 10 & 11 MASSIMO COSTA LOCAL SMEs have shown keen in- terest in a new multi-million euro funding scheme launched by Bank of Valletta and supported by Mal- ta's development bank, with a sec- ond bigger programme currently being planned. e scheme, which is a €50 mil- lion kitty being made available by BOV to small and medium enter- prises at an advantageous rates of interest, was an initiative of the Malta Development Bank (MDB), proposed to address gaps in the fi nancial support given to SMEs, MDB chairman Josef Bonnici told BusinessToday. BOV and the MDB signed an agreement for the new loan facility for businesses on Monday, with the scheme being available for loans taken out by SMEs for capital pro- jects at a minimum of €200,000 and a maximum of €750,000, with an interest rate of 3.5%. MDB is supporting the scheme by providing a guarantee of up to €10 million. e maturity of loans issued under the scheme will be at a maximum of 10 years. MIA registers record €30.3 million profit, 13.2% rise in passenger movement in 2018 Malta Developers' Association head Sandro Chetcuti on what makes the industry tick PAGE 2 PAGE 3 Prof Josef Bonnici With tech companies facing di culties to open bank accounts, Joseph Muscat says new entrants in the sector could provide solutions THURSDAY 16 MAY 2019 • ISSUE 8 WWW.BUSINESSTODAY.COM.MT New market players could unblock banking problems faced by tech companies – Prime Minister

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