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ARTICLE · 02 SEPTEMBER 2016

European Commission Approves Malta Development Bank

Finance Malta
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A Communication from the College of Commissioners of the European Union confirmed that it has approved the setting up of Malta's Development Bank and found it to be in line with EU state aid rules.

MaltaWealth Management
Finance Malta
Finance Malta
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A Communication from the College of Commissioners of the European Union confirmed that it has approved the setting up of Malta's Development Bank and found it to be in line with EU state aid rules.

In welcoming the decision as a "fundamental step in extending Malta's financial structure", Deputy Prime Minister, Mr Louis Grech said that "the country will now have a financial institution that specialises in development and which will not be guided solely by the profits of the shareholders."

The Deputy Prime Minister explained that the principal aim of the Bank will be to promote socio-economic development through non-commercial activities to finance different sectors, the main ones being Small and Medium Enterprises and Infrastructural Projects, without distorting competition unduly.

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