ARTICLE · 24 OCTOBER 2016

Government Commits €100 Million To SMEs

Finance Malta

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Deputy Prime Minister Louis Grech said that, this year alone, the government has already committed nearly €100 million of the 2014-2020 programmes in clear support to SMEs.

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Speaking during the 'Access to Finance' information session held on Friday 14th October 2016, Deputy Prime Minister Louis Grech said that, this year alone, the government has already committed nearly €100 million of the 2014-2020 programmes in clear support to SMEs.

Louis Grech said that €50 million grants under the new ERDF Grant Schemes and €30 million from the European Social Fund will be made available. In addition, through the SME Initiative, another €60 million of funds are available, from which about 850 enterprises will benefit, he said. If these funds are absorbed, we will top up our contributions to the Fund, Deputy Prime Minister Grech continued.

Shifting to the Malta Development Bank, the Deputy Prime Minister said that the upcoming bank will be a major tool to provide much-needed finance to SMEs. The bank will provide financing, through loans, investments and guarantees to enterprises, including SMEs and start-ups. He continued by saying that the

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