Antonio Tajani, vice-president of the European Commission, and John Dalli, Commissioner for Health and Consumer Policy, paid a visit to Bank of Valletta’s Head Office in Santa Venera to exchange views on matters relating to improving access to finance for small and medium sized enterprises (SMEs) in the current economic environment.

The Commissioners were greeted by BOV CEO Charles Borg who gave an overview of the bank’s operations.

“The Commission is working hard to give new credible rules to the markets while doing our utmost to facilitate access to credit for SMEs,” said Vice President Tajani.

“In this context, the role of banks and financial institutions is crucial to allow us a quick exit from the crisis by providing companies with the financial resources they need. I appreciate the efforts of Bank of Valletta to make good use of the JEREMIE initiative.”

“With over 300,000 customers from around 400,000 Maltese residents, the Bank plays a leading role in financing Maltese enterprise and assisting the country to meet its Europe 2020 objectives,” said Mr Borg. “Through the JEREMIE initiative, the European Investment Fund selected Bank of Valletta to provide over €50 million of new loans to Maltese SMEs, including micro-businesses.”

“Over 60 per cent of Malta’s GDP comes through SMEs, making them the backbone of our economy,” continued Mr Borg. “The BOV JEREMIE package is the ideal catalyst to promote growth and innovation among SMEs which is evident with over €25 million sanctioned in the first year.”

Vice President Antonio Tajani was in Malta to take part in the meeting of the Commission’s Network of SME Envoys held at the Hotel Excelsior in Valletta.