Fabian Demicoli

Strong Words: GRTU and Hon Tonio Fenech on MicroCredits

Vince Farrugia, GRTU's Director General, has not minded his words in communicating with Minister Tonio Fenech on the further delays announced on the implementation of the Micro Credit Scheme, which offered easy loans of up to €25,000 for small business to help them ease the liquidity problems they face during the recession period.

 

"This scheme was top priority for GRTU. Government should have commenced the Scheme immediately in January 2010 as agreed with GRTU, utilising first Government own funds and then switching to EU funds as these funds become available. Malta Enterprise has acted with complete disregard of the pains currently suffered by many small businesses and has lost valuable time to relieve thousands of small business owners during the tough recession times." Vince Farrugia told Minister Fenech.

He continued saying that "it is incredible that five months after Budget day the Ministry of Finance is still throwing out silly excuses that convince no one as to why this most important scheme remains on the shelves. And now they talk about the end of summer. This is like giving our people an umbrella when the rainy season is over".

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