Bank of Valletta in collaboration with the Qormi Local Council recently organised an information session on the Bank’s JEREMIE Financing Package at the Bank’s branch in Qormi. This well-attended information session was one of the numerous information sessions that the Bank has organised with different stakeholders to increase awareness about this EU financing opportunity among the broadest spectrum of SMEs possible. .
Noel Scerri, Executive Head Business Generation and EU Affairs at BOV said that “the Bank through its Business Generation and EU Affairs Department is actively assisting both BOV and non-BOV customers to tap into both Malta-based and Brussels-based EU funding and financing opportunities. Certainly, the 2014–2020 financial perspective opens a window of opportunities for Maltese SMEs to further strengthen their competitiveness. Since its launch two and a half years ago, the Bank has financed 530 SMEs. Following a public call for tender issued last August, BOV made available a further EUR 11.6 million worth of new lending for SMEs under the JEREMIE Scheme.
Neville Bonnici, Manager within the Bank’s Business Generation team gave an overview of the BOV JEREMIE initiative. Mr Bonnici explained that “the BOV JEREMIE scheme is a positive experience for the Bank and its beneficiaries. Over the last two and a half years, we have witnessed the best of Maltese entrepreneurship emerge. A significant number of new start-up enterprises have been created and they are successfully tapping into both the domestic and international markets. Through its lower cost of funding and reduced collateral requirements, the JEREMIE initiative is enhancing the access to finance and expanding Malta’s economic pillars.”
Rosianne Cutajar, Qormi Local Council Mayor said that “the Qormi Local Council is sensitive to the needs of its business community. Through the setting up of the Qormi Business Forum, the Local Council is encouraging the Qormi business community to present suggestions and proposals for an improved business environment in this locality.”
Mr Sean Meli, the Councillor responsible for the Self-Employed and Commercial Sector, said that “the Council through the Qormi Business Forum will be approaching the business community to understand in more detail their needs and formulate solutions through collaborations with different partners. This joint seminar is one such initiative.”