Following the European Commission’s approval of the Operational Programme for the Maltese Fisheries Industry for 2007-2013, it has been announced that the local authorities will be issuing e11.1 million in funds to assist the members of this important sector of Malta’s economy.

In order to support this industry, Bank of Valletta is introducing the BOV Fisheries and Marine Financing Package, a package linked to financing and co-financing opportunities that will directly be of benefit to the fishing community.

Through these financing packages, BOV is offering very competitive interest rates in order to improve cash flow management. BOV will also be assisting fishermen who intend to purchase a new fishing boat by offering to finance 80% of the total cost of the boat, with the customers’ contribution amounting to only 20%.

The BOV Fisheries and Marine Financing Package is open for part-time and full-time fishermen and their associated companies, fishermen cooperatives, trade related organisations (including associations) as well as network organisations that are implementing fisheries, fish farm and maritime projects involving EU structural funds.