Following the allocation of Structural Funds earmarked by Malta Enterprise to assist Maltese industry, Bank of Valletta is offering a financial package that finances and co-finances projects under the ERDF Innovation Actions Grant Scheme.

Bank of Valletta is committed to support the business community in Malta by providing a framework to help the process of innovation. In the current financial period Bank of Valletta has issued numerous co-financing and financing packages with the aim of easing the financial burden of various organisations in the provision of value-added services to their clients.

The ERDF Innovation Actions Grant Scheme is intended for private organisations that seek to invest in product or service innovation, process innovation and organisational innovation. Eligible costs under this initiative include consultancy services required for implementing innovation management techniques and investment costs in tangible and intangible assets.

Malta Enterprise will be offering between 30 to 50 per cent grants on eligible costs. The grants percentage will depend on the available budget line while minimum grant value per project is e20,000 for a medium-sized enterprise, e25,000 for a small enterprise and e15,000 for an SME active in the transport sector.

For further information interested parties can contact any BOV branch, the Customer Service Centre on 2131 2020 or visit the website www.bov.com.