Bank of Valletta has hosted the annual meeting of the Institutions of the European Union Specialising in Long-Term Credit, more commonly known as the ISLTC Club.
17 institutions were represented from the different European Countries along with representatives from the European Commission (EC), European Investment Bank (EIB) and European Investment Fund (EIF).
The primary objective of the Club is to exchange information, ideas and insights: in the economies of the countries, in business sectors and concerning European developments. The broadest and most important exchange of information takes place between the Heads of the Club members who meet regularly to discuss items such as financing, climate change & carbon credit or cooperation in the field of SMEs financing. Other more specialised meetings take place between specialists in various fields, such as treasury operations or information technology.
The Presidency of the Club rotates amongst member institutions for periods of one year. At present, Bank of Valletta holds the Presidency.
‘Innovation Financing; was the topic of this year’s Annual Meeting. Meeting participants presented and discussed the different vehicles they use to finance innovation: from venture capital funds investing at the seed and start-up stages, to specific products for financing innovative SMEs and larger corporations and including the setting up of intellectual property funds.
Addressing the conference, Albert Frendo, Chief Officer Credit at Bank of Valletta said “The ISLTC seeks to strengthen relations within the framework of the EU by the preparation of joint studies and the interchange of information on economies, sectors and industrial policies, with a view to improving the performance areas common to the participating countries. Bank of Valletta is proud to hold the Presidency of the ISLTC at a time when access to Innovation Financing is very high on the agenda. This is vital in ensuring European SMEs’ competiveness and their continued value proposition offers in an ever changing economic and globalised environment. Innovative Financing is also critical for European countries to foster the necessary environment to propel their way up from economic downturns in a sustainable manner. ”