Bank of Valletta is assisting Maltese Small and Medium Size Enterprises (SMEs) in tapping into EU structural and Cohesion Funds allocated by the government to strengthen the competitiveness of Maltese Enterprises.

For the programming period 2007 – 2013, the Maltese Government has allocated millions of euros coming from EU Structural and Cohesion funds. These funds are targeting sectors that include tourism, manufacturing, services, agriculture, rural development and fisheries. A significant amount of the European Union assistance is structured in the forms of grants that are designed around schemes launched by different Government Ministries and agencies including Malta Enterprise, the Paying Agency within the Ministry of Resources and Rural Development, the Tourism Sustainable Development Unit within the Office of the Prime Minister and the Employment and Training Corporation.

During the last few months, Bank of Valletta has handled over €15 million related to EU funds addressed towards local SMEs. The Bank has a dedicated EU and SME desk that handles the initial and ad hoc requests that SMEs might have. These requests vary from: assistance in business planning, tapping into EU Funding and opportunities, seeking assistance from local Government and agency incentives and general business development ventures that SMES might have.

BOV’s EU and SME desk has also developed a number of financing and co-financing packages linked with EU Grant Scheme. BOV’s, EU and SME desk can be contacted on 2275 3303, 2275 5779 or by e-mail to [email protected] or [email protected].