Il-Ministru għall-Finanzi u s-Servizzi Finanzjarji Edward Scicluna jilqa’ b’sodisfazzjon l-approvazzjoni tal-Iskema ta’ Sussidju fuq ir-Rata tal-Interessi mill-Kummissjoni Ewropea, li ser tkun iffinanzjata mill-Gvern u amministrata mill-Bank Malti għall-Iżvilupp.

STQARRIJA MILL-MINISTERU GĦALL-FINANZI U S-SERVIZZI FINANZJARJI.

L-iskema, li hija miftuħa għan-negozji kollha stabbiliti u li joperaw f’Malta, issodisfat il-kundizzjonijiet kollha tal-Qafas Temporanju stabbilit mill-Kummissjoni Ewropea. Din l-iskema kienet ikkunsidrata wkoll mill-Kummissjoni bħala neċessarja, xierqa u proporzjonata biex tirrimedja rvell serju fl-ekonomija ta’ stat membru.

“Bi pjaċir nilqa’ l-approvazzjoni tal-Kummissjoni fuq din l-iskema li mistennija li ttaffi l-impatt negattiv fuq il-likwidità tan-negozji u tilħaq il-ħtiġijiet ġodda ta’ working capital minħabba l-effetti tal-COVID-19, bl-inqas spiża possibli għan-negozji”, qal il-Ministru għall-Finanzi u s-Servizzi Finanzjarji Edward Scicluna.

Il-Gvern alloka madwar €40 miljun biex iħallas sa 2.5 fil-mija tal-interessi dovuti fuq self għal spejjeż rikurrenti tal-kumpanija (working capital), koperti taħt l-iskema ta’ garanziji tal-Bank Malti għall-Iżvilupp COVID-19 Guarantee Scheme, għall-ewwel sentejn. F’ċerti każijiet, in-negozji se jħallsu biss imgħax annwali ta’ 0.1 fil-mija fuq is-self għall-ewwel sentejn tat-terminu tas-self.

Is-self se jkun disponibbli mill-istituzzjonijiet ta’ kreditu li huma akkreditati mill-Bank Malti għall-Iżvilupp u se jkopri self fuq spejjeż rikurrenti.

The European Commission approves the COVID-19 Interest Rate Subsidy Scheme

Minister for Finance and Financial Services Edward Scicluna welcomes the European Commission (EC)’s approval of the COVID-19 interest rate subsidy scheme, which will be funded by the government and managed by the Malta Development Bank (MDB).

PRESS RELEASE BY THE MINISTRY FOR FINANCE AND FINANCIAL SERVICES

The scheme, which is open to all businesses established and operating in Malta, met all the conditions of the Temporary Framework established by the EC. The scheme was considered by the Commission as necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state.

Minister for Finance and Financial Services Edward Scicluna said, “I am pleased to note the Commission’s go-ahead on this scheme, which is expected to ease the companies’ negative cashflow impact and meet their new working capital requirements due to the effects of COVID-19, at the least cost possible.”

The government has allocated around €40 million to pay up to 2.5 per cent interest due on the working capital loans covered under the MDB COVID-19 Guarantee Scheme, for the first two years. In certain cases, businesses will only be paying an annual 0.1% interest rate on the loan advanced for the first two years of the loan term.

Loans will be available from the credit institutions accredited by the MDB, and will cover new working capital loans.

Tuesday 19th May 2020