Bank of Valletta has been given permission from the Banque Nationale de Belgique and the Malta Financial Services Authority to open its Brussels representative office.

The objective of this office is to build links with European institutions to engage in the development of EU-funded access to finance for SMEs.

BOV has appointed Mark Scicluna Bartoli to spearhead the activities of the Brussels Representative Office. Mr Scicluna Bartoli has vast experience in the area of EU funding programmes for SMEs gained – both internationally and locally – with the European Commission, Arthur D. Little and Malta Enterprise.

Mr Scicluna Bartoli emphasised that: “The new EU funding cycle for the period 2014 to 2020 is currently being discussed by the European Council and European Parliament. Through the BOV Brussels representative office, the bank will work with a number of Brussels-based associations to ensure that the new funding programmes are more accessible to SMEs.”

Bank CEO Charles Borg said: “The BOV representative office will further consolidate the value-added service the bank offers in the area of EU funding and access to finance for SMEs. Over the years, BOV has championed EU funding opportunities and access to finance through its tailor-made financial products and the very successful BOV JEREMIE Financing Package. Through this new initiative, the bank intends to further consolidate its SME offering by assisting them to tap into EU centralised funding.”

Chief Officer Operations Michael Galea said: “As part of its strategic objectives for 2011/12, the Brussels representative office will enable BOV to position itself as the key intermediary, interlocutor and facilitator for the local business community to avail itself of EU funding opportunities.”