Malta has hosted the annual meeting of the Financial Institutions Shareholders Group of the European Investment Fund, of which BOV is a shareholder.

The full day meeting, held at BOV Centre in St Venera, was addressed by European Investment Bank president Philippe Maystadt, European Investment Bank vice president Philippe De Fontaine Vive and European Investment Fund chief executive Francis Carpenter.

Bank of Valletta chief executive officer Tonio Depasquale opened the meeting by welcoming the senior officials of the European Investment Bank and the European Investment Fund, as well as the delegates representing the financial institutions that are shareholders in the EIF.

In his presentation, Mr Maystadt spoke about what the EIF adds, and could add in the future, to the EIB’s activities relating to SMEs. He explained that SMEs represent 99 per cent of businesses in the European Union – a fact that explains why they are central to the EIB’s activities. He spoke about the EIB Group’s SME-targeted products, including global loans.

Mr De Fontaine Vive spoke about the current consultation exercise being undertaken by the EIB that is focusing on better access to finance for SMEs, emphasising that support to SMEs is and will remain a key priority for the EIB. Mr Carpenter gave an update on EIF activities.