The Malta Development Bank will act as a second-tier financial institution. Its principal objective is to offer support to viable operations where financing is not accessible in the market.
During the Investment and Investment Finance – the case of Malta conference, Finance Minister Edward Scicluna maintained that the Government will be the sole shareholder of the Malta Development Bank. He also stated that this Bank will not be competing with local banks, but rather, complementing them.
The government is expected to allocate a capital of EUR200 million towards projects contributing to Malta’s development. Thus, financially supporting Small and Medium sized enterprises to expand their existing businesses or invest in the development of new plans.
Contact our team at Firstbridge to learn more about this act and how your business may benefit from it.